The Rhode Island state treasurer’s office is searching for a program manager to run the state’s $7.4 billion 529 plan, CollegeBoundfund, Providence.
The search is being conducted because the state’s contract with the current program manager, AllianceBernstein, is set to expire on June 30, 2016. AllianceBernstein is welcome to rebid, said Shana Autiello, spokeswoman for Treasurer Seth Magaziner.
There are eight active options (three value equity, two growth equity and three fixed income options) and three passive (two equity and one fixed income) options, all managed by AllianceBernstein, the RFP said.
The RFP is available on the treasurer’s website. Proposals are due by 4 p.m. EDT on Aug. 5. A selection is expected to be made in September or October.