College Savings Plans of Maryland, Baltimore is searching for a program manager for the $4.5 billion Maryland College Investment Plan, said an RFP posted on the 529 plan's website.
The plan is seeking a program manager to provide administration, record keeping and investment management services for the plan due to a state law mandating that services must be put up for bid when the current manager's contract expires.
The current manager, T. Rowe Price Group, offers 14 investment options for participants. Whether the firm is invited to rebid and when its contract expires could not be learned by press time.
Proposals are due at 2 p.m. EDT on Oct. 24. A timeline for a decision was not provided.
The RFP is available on the plan's website.
Lauren Shipley, executive director, could not be immediately reached to provide further information.