Indiana issues RFP for 529 program manager

The Indiana Education Savings Authority has issued a Request for Proposals (RFP) soliciting bids to manage the state's direct-sold and adviser-sold 529 savings plans when the current management contract with JPMorgan expires on December 31, 2007.

The direct-sold plan held $121 million at April 30, 2007 while the direct-sold plan held $464 million. Beginning with the 2007 tax year, Indiana residents can claim a 20% Indiana state tax credit on up to $5,000 in contributions to the plan.

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