Track open bid opportunities, contracts, public meetings, and key contacts for Maryland College Investment Plan.
Key metrics and characteristics
City
The city where this buyer is located.
Boston
Phone Number
Contact phone number for this buyer.
(888) 463-4723
Propensity to Spend
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Latest Budget Year
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Board meetings and strategic plans from Maryland College Investment Plan
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.
The meeting primarily focused on the budgets for Maryland 529 and Maryland ABLE for Fiscal Year 2019, with a review of adjustments to personnel and contractual services items. The Board discussed a projected deficit, clarifying that certain expenses were one-time occurrences. Revisions to marketing expenses for ABLE were considered in favor of funding an ambassador program. The Board also addressed funding sources for ABLE, including those with the Maryland Higher Education Commission. A question was raised regarding the eligibility of account holders with no Maryland taxable income for the State Contribution Program, leading to a resolution that allows eligibility with a notarized statement of financial status in such cases.
The Maryland 529 Board Meeting included discussions on the Executive Director recruitment process, with a decision to engage a professional recruitment firm if a suitable candidate is not found through initial interviews. UHY provided a report on the minimum benefits calculation issue, detailing their review of ICSS procedures and identification of data transfer errors and missing fields. The board also discussed the annual audit, including the application of new GASB Standards and proactive cooperation from T. Rowe Price and Vestwell. A closed session was held to discuss specific account holder information and legal advice on minimum benefit issues.
Extracted from official board minutes, strategic plans, and video transcripts.
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