Illinois issues RFP for Bright Directions program manager

The Treasurer of the State of Illinois has issued a Request for Proposals from firms interested in managing the state's Bright Directions advisor-sold 529 savings program. The 529 plan held $1.76 billion in assets as of December 31, 2014 with current program manager Union Bank and Trust whose term ends on November 15, 2015. The new management agreement will run through July 19, 2017 to coincide with the term of Illinois' other advisor-sold 529 savings program called Bright Start Advisor.
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