Alabama issues RFP for 529 program manager

The Alabama Higher Education 529 Fund has issued a Request for Proposals (RFP) and is seeking bids from qualified firms to take on program management and administrative services for its 529 savings program.

Van Kampen is currently the program manager for this plan, which holds over $500 million in assets, and offers the plan on a direct basis to Alabama residents (S shares) and through financial advisers to non-Alabama residents. The 529 program board is seeking to establish separate and distinct direct-sold and adviser-sold plans.

Bids are due by October 26, 2009 with new plans, or changes to the current plan, to be launched by July 1, 2010.
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