In the News
In the NewsBarb Yearout Explains HSA Investment Options
Barb Yearout, president of Chard Snyder, an Ascensus company, contributed content about how individuals can make the most of their HSA accounts for investment purposes to the Cincinnati Business Courier.
In the NewsRick Irace Discusses the Importance of Clean Participant Data
In a recent PLANSPONSOR article, Rick Irace, chief operating officer (COO) for Ascensus' Retirement line of business, talked about the importance of clean participant data when it comes to maintaining a healthy retirement plan. He notes that educating participants about why it’s important to keep their own data up to date is crucial to keeping data clean. He also discusses systems that Ascensus has in place to ensure that data is submitted accurately and points out that having clean data also reduces the risk of cybersecurity threats.
In the NewsAnna Johnson Talks About Cycle 3 Restatement for 401(k) Plans Timing
In a recent Wealth Management article, Anna Johnson, RPS director of operations, talks about the importance of timing for employers who need to start the Cycle 3 restatement for 401(k) plans process.
In the NewsRaghav Nandagopal Discusses Recordkeeping and TPA Consolidation
In a recent Citywire RIA article, Raghav Nandagopal discusses consolidation in the recordkeeping and TPA space and how scale creates competitive advantages necessary to compete in the modern retirement market.
In the NewsBarb Van Zomeren Explains What the SECURE Act Means for Retirement Plan Sponsors
In a recent PLANSPONSOR article, SVP Barb Van Zomeren discusses the key changes that the SECURE Act brings to retirement plans. "The increase in the age for RMDs, the elimination of the ability of certain beneficiaries to stretch IRA payments over their lifetime, and the exception to the 10% early distribution penalty for distributions for birth or adoption of a child are the most urgent [changes] for plan sponsors to address," she states. Van Zomeren says that more clarification is needed on the elimination of the distribution penalty for birth or adoption and the open-ended repayment period before plan sponsors should let participants take advantage of this feature. "Right now, plan sponsors should educate themselves [about SECURE Act provisions], prioritize which are impactful immediately, and consider others for plan design…Considering the law was enacted late in last year with a January 1, 2020, effective date, there will be additional guidance and relief [the retirement plan industry] should watch for," she concludes.
In the NewsDavid Musto Urges Congress to Maintain Momentum, Pass SECURE Act
Ascensus President David Musto contributed a byline to PLANADVISER in which he encourages political influencers to look beyond next year’s election and consider our nation’s outlook in 2044. Based on a retirement age of 67, the average American worker is expected to retire in 2044. Will these workers be able to retire comfortably, having accumulated adequate savings? Musto highlights how the passage of the SECURE Act, with its provisions incentivizing retirement plan creation and increasing plan accessibility, might help boost their chances. "Kudos to Congress for working together to propose meaningful and much-needed retirement reform legislation. We’re almost over the hurdle and on our way to a brighter retirement future for all Americans," he concludes.
In the NewsPeg Creonte Discusses the Benefits of 529 Apps
In a recent MONEY article, Government Savings President Peg Creonte discusses how 529 savings apps, particularly Ascensus' READYSAVE™ 529, bring a new convenience to college savings. The article specifically delves into Ascensus' app development process and the underlying behavioral psychology it incorporates to boost saving habits. In Ascensus' new app, users can check their balance, make contributions, and see their investment allocation with the click of a finger.
In the NewsPeg Creonte Highlights The Simplicity and Benefits of the 529 Gifiting Process
In a recent SavingforCollege.com article, Government Savings President Peg Creonte shares why family and friends might consider giving the gift of education savings this holiday season and explains how Ascensus' Ugift program makes the 529 gifting process simple and secure.
In the NewsAscensus Insights on Employer Match Changes Featured in WSJ
Ascensus' data on employer changes to retirement plan matching contributions is highlighted in a recent Wall Street Journal feature. The article notes that more employers that had decreased or suspended their match over the course of the COVID-19 pandemic are "reversing course as their businesses rebound."