Rhode Island Higher Education Assistance Authority, Warwick, and the Rhode Island State Investment Commission, Providence, renewed AllianceBernstein as provider of the state’s $7.4 billion 529 plan, confirmed Jennifer DeLong, senior marketing director for AllianceBernstein’s defined contribution and subadvisory relationships.
According to a news release, AllianceBernstein will continue to manage the state’s CollegeBound fund program, including investment management services for the fund’s assets, for five years, with a provision allowing for an additional five years.
AllianceBernstein has overseen the fund since 2000.
Peter Kerwin, a spokesman for the Rhode Island fund, couldn’t immediately be reached for comment.
