News ReleasesAscensus Expands Employee Benefits Administration and Compliance Capabilities with Agreement to Acquire UnifyHR
Fortifies Expertise in ACA Compliance, COBRA Administration, and Eligibility Verification Services Within Health & Benefits Line of Business
Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—has entered into an agreement to acquire UnifyHR, a third-party administrator that provides employee benefits administration and compliance solutions including Affordable Care Act (ACA) compliance, Consolidated Omnibus Budget Reconciliation Act (COBRA) administration, and eligibility verification services. It will immediately become part of Ascensus' Health & Benefits line of business.
Industry & Regulatory NewsIRS Again Extends Temporary Relief from Physical Presence Requirement for Retirement Plan Consents
The IRS issued Notice 2021-40, extending guidance released under Notice 2020-42 and previously extended by Notice 2021-03, which provided temporary relief from the physical presence requirements for certain elections that are made by participants and beneficiaries in qualified retirement plans and other tax-favored retirement arrangements. The additional extension provides relief through June 30, 2022. This includes signatures of those making an election ordinarily needing to be witnessed in the physical presence of a plan representative or notary public, including spousal consent and certain forms of distribution from retirement plans.
News ReleasesFuturePlan by Ascensus Appoints Aaron McIsaac as Divisional Vice President for Southern California
Experienced Sales Leader Will Continue to Oversee Organization's Northwest/Central Region
FuturePlan by Ascensus—a leading national retirement third-party administrator (TPA) that specializes in the delivery of customized retirement plan consulting and administration services—announces that Aaron McIsaac will assume divisional vice president (DVP) responsibilities for the organization's Southern California region as a result of DVP Greg Taylor's planned retirement. The change is effective June 30, 2021.
News ReleasesFuturePlan by Ascensus Expands Sales Team
Jay Hollis, John Krzeminski, and Lou DePonte Join Organization to Facilitate Continued Institutional Growth and Offer Enhanced Regional Support
FuturePlan by Ascensus—a leading national retirement third-party administrator (TPA) that specializes in the delivery of customized retirement plan consulting and administration services—is pleased to announce that the following individuals have been appointed to sales leadership roles: Jay Hollis, vice president, sales consultant for the Tennessee and Southern Kentucky regions; John Krzeminski, institutional sales support & business development relationship manager; and Lou DePonte, sales effectiveness principal.
The FuturePlan sales team's expansion is intended to grow relationships with strategic institutional recordkeeping and financial advisor partners while enhancing regional and consultative support for retirement plan clients.
Hollis will drive sales with financial advisors and strategic alliance platforms while also coordinating sales activities for key employer relationships. With more than 10 years of retirement industry experience from roles with Seven Hills Group and Taylor Wealth Solutions, Hollis fills the role vacated by Mark Wiggins, who was recently appointed as FuturePlan's divisional vice president for the Southeast and Southwest regions.
Krzeminski will cultivate institutional relationships to explore new opportunities and deepen FuturePlan's relationships with existing partners. His sales, relationship management, and project leadership skills have been honed during his more than 13 years of retirement plan industry experience at Vanguard, Lincoln Financial, and Quantum Strategies.
DePonte will participate in the development of—and ultimately be responsible for—the implementation and ongoing monitoring of FuturePlan's sales operations strategy. He brings more than 30 years of experience to his new position and previously held leadership roles at Prudential, The Phoenix Companies, and Hartford Life Insurance.
"In welcoming Jay, John, and Lou to the FuturePlan sales team, we're giving our key institutional partners, financial advisors, and business-owner clients access to more than 50 combined years of industry experience and expertise," states Kasey Price, FuturePlan's head of sales. "I look forward to working with them to develop and execute strategies to take FuturePlan's sales efforts to the next level and cement our organization's standing as a leading national retirement TPA."
Industry & Regulatory NewsSeveral Health Savings Bills Proposed
Senator Ben Sasse (R-NE) recently introduced two bills aimed at providing more flexibility for the use of health savings accounts (HSAs). Senate bill 2113 proposes to expand permissible distributions from an employee’s health flexible spending arrangement or health reimbursement arrangement to the employee’s HSA. Senate bill 2099 proposes to make HSAs more broadly available by removing the requirement that individuals be enrolled in a high deductible health plan. Further details of these proposals have not yet been made available.
Industry & Regulatory NewsSupreme Court Leaves Affordable Care Act In Place
On June 17, 2021, the United States Supreme Court held that the plaintiffs did not have standing to pursue an action under the Patient Protection and Affordable Care Act (PPACA) because the individual mandate is unenforceable and, as such, “unenforceable language is insufficient to establish standing.” Regarding the states, the Supreme Court held that the "pocketbook injuries" cannot be traced to the government’s unlawful conduct. The Supreme Court failed to consider whether reducing the penalty to zero rendered the individual mandate unconstitutional and, in turn, if the individual mandate is unconstitutional, whether the individual mandate is severable from the remainder of the PPACA.
Industry & Regulatory NewsIRS Issues Final Regulations for Mandatory Deadline Postponements Related to Federally Declared Disasters
The IRS has released final regulations regarding the mandatory 60-day postponement of deadlines for certain time-sensitive, tax-related acts in circumstances of federally declared disasters, implemented under the Further Consolidated Appropriations Act of 2020.
Industry & Regulatory NewsIRS Issues Deadline Relief for Louisiana Storm Victims
The IRS has issued a news release announcing the postponement of certain tax-related deadlines for Louisiana victims of severe storms and flooding. The tax relief postpones various tax filing and payment deadlines that occurred starting May 17. The areas included in the relief are Ascension, Calcasieu, East Baton Rouge, Iberville, and Lafayette parishes.
Industry & Regulatory NewsBill Would Double IRA Contribution Limit for Those Without Retirement Plan Access
Senator John Kennedy (R-LA) has introduced the Increasing Retirement Amount Act to allow individuals without access to a workplace retirement plan to save more for retirement by providing an increased IRA contribution limit of $12,000 per year, subject to annual cost of living adjustments. The special rule would also allow catch-up contributions of up to $3,000 per year for those age 50 or older.
Industry & Regulatory NewsSECURE Act Video Series: IRA Amendments
Ascensus is excited to present the SECURE Act Video Series. This multi-video series will provide a snapshot of retirement-related SECURE Act provisions, included in the Further Consolidated Appropriations Act, 2020.