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Rating:$600 MM 529 up for Bid Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 12, 2005

$600 MM 529 up for Bid

by: Theresa Sim

The board of the $600 million College Savings Plan of Maryland will conduct an RFP for a 529 provider, reports the Baltimore Sun.

T. Rowe Price's contract with the board, won in 2001, lasts until 2006. After that, the board may decide to extend T. Rowe Price's contract through July 2008, or swap providers entirely.

Currently, T. Rowe shares half of the plan's $75 enrollment fee with the state. The state plan's participants also pay an asset-based management fee and some participants pay $30 annually to maintain an account, reports the Sun.

T. Rowe spokesman Steve Norwitz declined to comment on whether the provider would submit a proposal with lower fees, reports the Sun

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