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Nebraska issues RFP for 529 program management

(July 6, 2009) - The Nebraska Treasurer's office has issued a request for proposals (RFP) for investment and administrative services for the state's 529 savings plans. The provider since 2002 is Union Bank & Trust of Lincoln, Nebraska under a contract that expires in December 2010.

Nebraska currently has 5 different 529 offerings, including both direct-sold and adviser-sold plans. Combined assets at May 31, 2009 were approximately $1.7 billion and there were 172,000 accounts. The RFP requests that bidders propose on both the direct- and adviser-sold plans.

The deadline for bids is September 1, 2009.

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