South Carolina State Treasurer's Office, Columbia, is searching for a bundled provider for the state's two 529 college savings plans, according to an RFP posted on the treasurer's website.
The treasurer's office is interested in hiring a single “program manager” that will operate program administration, customer service, record keeping, investment management, marketing and distribution for both plans.
Currently, the $1.3 billion Future Scholar 529 College Savings Plan's provider is Columbia Management. The $121 million South Carolina Tuition Prepayment Program has Intuition Systems as record keeper; the state treasurer's office oversees investments with the assistance of investment consultant Jamison, Eaton & Wood.
Proposals are due at 5 p.m. EST on Jan. 6. Finalist interviews are scheduled for Jan. 23 with a decision expected on Jan. 30. The contract is scheduled to start March 5, with program implementation scheduled for May 1, according to the RFP, which is available on the state treasurer's website.
A phone call to Daniel McDowell at the treasurer's office was not returned.