Alabama state treasurer’s office is searching for an actuarial consultant for the state’s 529 prepaid college tuition savings program.
The Prepaid Affordable College Tuition Program has $90 million in fixed-income assets and more than $74 million in cash. “The allocation of program assets is 100% fixed income and will be for the remaining life of the program,” the RFP said.
The search is being conducted because the contract with its current actuarial consultant, Sherman Actuarial Services, will expire in January, said a spokeswoman for the state treasurer’s office in an email.
The RFP is available on the state treasurer’s website. Proposals are due 5 p.m. CDT Aug. 13. A selection is expected to be made by the end of the year.