Vermont Student Assistance Corp., Winooski, is searching for a program manager for the $247 million Vermont Higher Education Investment Plan, said Richard Westman, program director.
The search is being conducted due to the expiration of current manager TIAA-CREF’s contract on March 31, 2015. Mr. Westman said TIAA-CREF, which has operated as the 529 plan’s “all-in” program manager for 15 years, is invited to rebid.
He added the only changes that VSAC is considering is taking on call center and marketing responsibilities currently overseen by TIAA-CREF; otherwise, the corporation is seeking a program manager to handle record keeping, administration and investment management of the plan.
Proposals are due at 2 p.m. EDT on Oct. 31. Finalist presentations, if any, are tentatively scheduled for Nov. 17 with a decision shortly thereafter. A five-year contract begins on April 1, 2015.
The RFI is available here.