529 News

Fidelity declines to re-bid for California 529 plans

(June 13, 2011) - Fidelity Investments has made a strategic business decision not to bid for California's ScholarsShare and ScholarShare Advisor College Savings Plans as part of the state current process of re-bidding program management services.

Fidelity won California's 529 business in 2006, taking the management reins from TIAA-CREF. Several firms have submitted bids in the most recent RFP process, and the ScholarShare board is scheduled to make its choice soon.

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