Texas seeks new manager for 529 savings and prepaid plans
The current plan manager is OFI Private Investments Inc., a subsidiary of OppenheimerFunds, Inc. As of June 30, 2012, assets in the prepaid plan were approximately $334 million, and assets in the direct-sold and advisor-sold savings plans were $212 million and $135 million, respectively.
The Board has indicated a preference for "open architecture" in the savings plans' investment platform.
The deadline for bids is November 2, 2012. The target date for contract execution is April 1, 2013 so that management services are in place for the 2013-14 prepaid plan enrollment period that begins September 1, 2013.