The Alabama Prepaid Affordable College Tuition fund, Montgomery, is seeking an actuarial consultant to possibly replace Mellon ACS. Officials issued an RFP Thursday because Mellon Financial recently sold its human resources unit to Affiliated Computer Services, and Mellon's HR unit was handling the account for the $651 million fund, said Anthony Leigh, state deputy treasurer. "In May, Mellon informed the board of the sale. The original contract specified that if there is a change in the contractor, the original contract would be void and a new RFP would be issued," said Mr. Leigh. "That doesn't mean that Mellon ACS can't compete for the business, but if they are to continue with it, they must go through the RFP process."
The RFP is available at www.treasury.alabama.gov. Proposals are due June 20, and a selection should be made in September, said Mr. Leigh.