May 3, 2016
The State of Tennessee Department of Treasury is seeking a contractor to provide marketing and advertising services for the sole purpose of assisting the TNStars® College Savings 529 Plan (“TNStars®”) with increasing the number of accounts and assets in the plan. Launched in 2012, TNStars® is a 529 plan developed and maintained in accordance with 26 U.S.C. §529. Information about the plan may be found at www.tnstars.com.
Named after the section of the Internal Revenue Code, 529 plans are tax-advantaged vehicles for families to plan, save and invest for future college costs. Enrollment in TNStars® is open to individuals who are either residents of Tennessee or residing out-of-state. Funds saved in TNStars® may be used to cover qualified higher educational expenses, including tuition and fees, room & board, computers and computer software, and equipment and supplies that are required for attendance or enrollment at an institution of higher education. The funds may be used at any post-secondary institution, domestic and abroad, that accepts federal financial aid.
Marketing and advertising should be directed to both existing and prospective TNStars® participants to assist individuals in meeting their college savings goals by choosing the TNStars® College Savings 529 Program. While there is an awareness component of marketing and advertising TNStars®, the primary focus of the efforts should be toward conversions of prospective participants to contribute to new accounts and increased savings contributions by existing participants into their TNStars® accounts. Participants in the plan may contribute by check, electronic funds transfer, automatic contributions, rollovers from other 529 college savings plans, transfers from a UTMA/ UGMA account, transfers from a Coverdell Education Savings Account, transfers from the redemption of Qualified US Savings Bonds, gifts by third-party contributors such as family and friends, and payroll deduction from employers.
Through this APS, the State seeks to procure necessary goods or services at the most favorable, competitive prices and to give all qualified businesses, including those that are owned by minorities, women, Tennessee service-disabled veterans, and small business enterprises, an opportunity to do business with the state as contractors, subcontractors or suppliers.