Maryland 529 Board Meeting Minutes
The Maryland 529 Board meeting addressed several key areas. The Maryland ABLE program's achievements, strategic development, and marketing plan were presented, including its ranking in national surveys, account statistics, and FY20 goals. The Board approved the Maryland ABLE Marketing Budget and Strategic Programs Development and Marketing Plan goals for FY21, and discussed the costs associated with the Maryland ABLE Pre-Paid Card. The Strategic Marketing Plan and Budget Plan for Maryland 529 were reviewed, with a focus on the marketplace, family usage of 529 plans, and the impact of COVID-19. The Board also approved the MPCT Tuition & Mandatory Fees, subject to updates from Baltimore City Community College. Contract renewals for GRS, BNY-Sumday, and an interagency MOU with Towson University for web hosting services were approved. The Board discussed potential annual auditors and the upcoming forensic audit. Changes to the MCIP Disclosure Statement were approved following advice from the Attorney General's Office. Proposed changes to the State Contribution Program were outlined, and the Board approved an operational change requiring applicants to file their State taxes by the standard tax filing deadline. The MPCT Program Manager Request for Proposal was presented, and the Board approved the Scope of Work for the MCPT Program Manager RFP. Draft regulatory revisions addressing the College Investment Plan and the State Contribution Program were approved, and the Assistant Attorney General and staff were directed to seek approval from the necessary government agencies.