Maryland 529 is excited to announce its new partnership with Intuition College Savings Solutions, LLC as Program Manager of the Maryland Senator Edward J. Kasemeyer Prepaid College Trust (“MPCT” or “Prepaid College Trust”).
Maryland 529 conducted a competitive procurement to explore all available program manager options and chose Intuition College Savings Solutions as the company that will best meet the needs of the MPCT Account Holders. Intuition College Savings Solutions is a leading provider in the 529 industry, focused exclusively on development of premiere solutions for the 529 marketplace for over 30 years. The Maryland Prepaid College Trust will mark the 12th 529 prepaid or savings plan administered by Intuition College Savings Solutions, from their offices in Jacksonville and Tallahassee, Florida. More information about Intuition College Savings Solutions can be found on their website at intuitioncss.com
Intuition will offer a number of significant enhancements with the transition, which is expected in the fourth quarter of 2021. Highlights include:
- Eliminating the MPCT enrollment fee for new online enrollments
- Enhanced online experience
- Paperless statements and online messaging
- Online Benefit Claims
- Electronic payments for distribution (expected in early 2022)
The transition of program management operations from the State to Intuition College Savings Solutions does not affect Tuition benefits or State tax advantages of the Prepaid College Trust. Additionally, MPCT will continue to be backed by a Maryland Legislative Guarantee; should the Trust ever experience a financial shortfall, Maryland law requires the Governor to include funds in the State budget to allow the Trust to pay Account Holders’ full Benefits. As with the entire State budget, the Maryland General Assembly has final approval.
Click here to view the press release.