Texas Comptroller of Public Accounts, Austin, is searching for a bank loan manager for the state’s $887 million Texas Guaranteed Tuition Plan, spokesman Chris Bryan said.
Incumbent manager Shenkman Capital Management’s contract expires at the end of August. It could not immediately be learned whether Shenkman is invited to rebid.
The selected manager might also be requested to provide services for the state’s Achieving a Better Life Experience plan, a tax-free savings account for people with disabilities, which is expected to be launched later this year.
The RFP is available on the Comptroller Glenn Hegar’s procurement website. Proposals are due by 2 p.m. CDT on June 17. A hiring decision is expected by Aug. 19.
Separately, Aon Hewitt Investment Consulting was rehired as investment consultant for the Texas Prepaid Higher Education Tuition Board, pending successful contract negotiations.
The tuition board administers the Texas Guaranteed Tuition Plan, ABLE plan, $605 million Texas Tuition Promise Fund, $351 million Texas College Savings Plan and $169 million LoneStar 529 Plan, among other programs.
An RFP was issued in March due to Aon Hewitt’s Aug. 31 contract expiration.