Agency Office of Higher Education

Contractor TIAA-CREF, Tuition Financing Inc

SWIFT Contract Number A27891

Project Name College Savings Plan

Project Number (if applicable) {Empty}

Summarize purpose of the contract, including why it was necessary: Administration of the Minnesota College Savings Plan, an Internal Revenue Service Section 529, under M.S. 136G, specifically 136G.05, Subd. 8 and 136G.07, Subd. 3. The Office of Higher Education and State Board of Investments concluded the scope and nature of the activity required a financial services firm to keep fees and account owners as low as possible as required by Minnesota Statutes.

Project Duration

Start Date Sat, 09/01/2001 - 00:00

Original end date Mon, 08/31/2009 - 00:00

Actual end date Mon, 08/31/2009 - 00:00

Did project finish on time? Yes

Total billable hours utilized (if applicable) {Empty}

Contract Amounts

Original contract: $450000.00

Amendments $1747519.00

Contract total $2197519.00

Did project finish within budget? Yes

What was the funding source? 200 Fund

Is this a sole source contract? No

If this was a single source contract, explain why the agency determined there was only a single source for the services (if applicable) {Empty}

Evaluator Name Jack Rayburn

Evaluator Email Address Jack.Rayburn@state.mn.us

Evaluate the contractor's timeliness Contractor's Timeliness, quality, cost and overall performance under the contract were important factors in selecting TIAA-CREF from vendors responding to the Office of Higher Education and the State Board of Investment's RFP for a vendor to administer the Minnesota College Savings Plan from 9/1/09 to 8/31/09

Evaluate the contractor's quality Satisfactory.

Evaluate the contractor's cost Good.

Evaluate the contractor's overall performance Satisfactory

Would you engage the contractor's services again? Yes

Describe any negative action taken during the duration of this contract (i.e., termination, pursuit of suspension, etc.): None

Please rate the overall experience with the contractor 4 - satisfied