Missouri Higher Education Savings Board, Jefferson City, is searching for a manager to run the state's $750 million 529 plan under a five-year contract, said Mark Hughes, policy director for Sarah Steelman, state Treasurer and board chairwoman. Current program manager TIAA-CREF's contract will expire May 9, 2006. The program now only offers funds managed by TIAA-CREF; board members want to include other mutual fund families as investment options, Mr. Hughes said. The board also wants to include a broader adviser-assisted option as well as its base direct-investment option. TIAA-CREF can rebid. Mr. Hughes said the board expects to select a program manager by Dec. 31.
AKF Consulting is assisting.