Illinois State Treasurer’s Office, Springfield, is searching for an investment consultant for its $3.7 Bright Start Direct, $2 billion Bright Start Advisor and $1.9 billion Bright Directions 529 plans, said an RFP on the treasurer’s website.
The selected firm will also provide consulting services for the new Achieving a Better Life Experience savings vehicle, a tax-free savings account for people with disabilities. Decisions on the program’s investment lineup are expected to be made in 2016.
Wilshire Associates is the incumbent consultant for the Bright Directions plan. It could not be learned by press time whether Wilshire provides consulting services for the Bright Start plans as well.
The treasurer’s office is looking for one consultant for all of the plans.
The RFP is available on the treasurer’s website. Proposals are due by noon CST on Dec. 15. A hiring decision is expected the week of Jan 18.
A procurement official for Treasurer Michael J. Frerichs could not immediately be reached for additional information.