Treasurer Osborn Seeking Bids for Nebraska College Savings Plan

Lincoln, Neb. Today, July 6, 2009, State Treasurer Shane Osborn has issued a Request for Proposal (RFP) to any and all parties interested in assuming Program Management Service duties for the Nebraska College Savings Plan of Nebraska (CSPN).

While the current 10-year contract with Union Bank does not expire until December 5, 2010, Treasurer Osborn wants to give the winning bidder ample time to make the necessary preparations to implement their proposal.

“The College Savings Plan of Nebraska is one of the best and most sought after 529 plans in the country and I want to make sure we are providing our account holders with the best value possible,” Treasurer Osborn said. “With the 529 market becoming more and more competitive, it is critical that we head into the next decade with a smart and prudent strategy that will make the College Savings Plan of Nebraska even better.”

The deadline for proposals is 2pm on Tuesday, September 1, 2009. A copy of the RFP is available on the Nebraska State Treasurer website. The State Treasurer is the College Savings Plan of Nebraska trustee while the Nebraska Investment Council manages and approves the underlying investment selections.

The CSPN is an education investment vehicle that combines attractive tax benefits with flexible investment options to begin saving for college funding needs. Contributions into a CSPN account grow tax-free and, when used for qualified education expenses, are exempt from federal and state taxes. CSPN has investors from all 93 Nebraska counties and from all 50 states. Nebraska taxpayers who invest in a 529 college savings plan can claim a state income tax deduction of up to $5,000. Please read all offering materials carefully before making a decision to invest.