LEXINGTON, KY: The College Savings Plans Network has hired the Rosen Group to promote “Section 529” qualified tuition plans as an effective way for families to save on college costs.
The firm beat incumbent Fahlgren Mortine for the contract following a competitive RFP process. Fahlgren held the account for more than two years before its contract ended in June.
“[Rosen's] PR experience in the personal finance arena should prove invaluable as we work to increase awareness of the need to save for college,” said Michael Fitzgerald, Iowa state treasurer and chair of the College Savings Plan Network.
A Section 529 plan is an education cost-savings plan operated by state or educational institutions. It is named after Section 529 of the Internal Revenue Code.
The two-year contract has a value of up to $200,000, depending on the network's needs, according to the RFP. The Rosen Group is tasked with increasing awareness and understanding of 529 plans by the public and federal and state decision-makers, according to the solicitation. The firm's three major responsibilities will be media relations, reputation management, and growing the organization's web presence.
“The Rosen Group has extensive experience working with higher education and personal finance clients, and the College Savings Plan Network is the perfect intersection of those two sectors," said Abby Berman, a VP at the firm. She added that 529 plans “are a critical and effective savings tool for US families wishing to ease the financial burden of college.”
Neil Mortine, president and CEO of Fahlgren, said the firm is “proud of our accomplishments together, including the relationships we built between the organization and national business reporters.” He wished the organization well in future endeavors.
The Tennessee Treasury Department recently signed a $3.2 million pact with Walker + Associates to encourage state residents to invest in Section 529 plans.