In the News

Peg Creonte Shares Data on Use of 529 Savings for K-12 Education

In a recent USA Today feature​, Peg Creonte, SVP of business development for our government savings division, shared insight on the usage of 529 account savings for education expenses for beneficiaries in kindergarten through 12th grade. Ascensus data suggests a minor jump in the overall percentage of qualified 529 withdrawals made for beneficiaries ages 16 and under, at 5.5% in 2018 versus just 4% in 2016. Individual states are taking different approaches on how to educate savers on the potential use of 529 savings for K-12 related expenses, notes Creonte. “Some states are neutral…And on the other end of the spectrum, some states are actively encouraging people to use the funds for K-12,” she adds.

Peg Creonte Offers Insight on Advisor Opportunity to Engage Employers Enrolled in State-Facilitated IRA Programs

In Lee Barney’s recent PLANADVISER feature, SVP Peg Creonte offers insight into how state-facilitated auto-IRA programs are helping business owners recognize the value of workplace retirement programs. As these business owners and their employees get more familiar with these programs as offered by the state, they become more informed retirement plan prospects for financial advisors. “We believe that over time, as an employer grows its plan and its employees get more comfortable with setting aside money, they could become a source for financial advisers to pursue selling qualified plans to these businesses,” adds Creonte.

Rick Irace Discusses Key 401(k) Rollover Considerations

In a recent PLANADVISER feature, Rick Irace, COO of Ascensus’ Retirement division, discusses how plan participants often learn about their 401(k) rollover options and how to best manage the rollover process. Many of Ascensus’ financial advisor partners discuss rollover considerations in plan enrollment meetings, said Irace. “A lot of financial wellness programs now include online videos and tools to help answer participants’ questions about rollovers and withdrawals,” he added.

Peg Creonte Discusses Advisor Opportunity Presented by CalSavers

In a recent Wealth Management article​, Peg Creonte, SVP of business development for Ascensus Government Savings, discusses how the recently launched CalSavers retirement program offers advisors the opportunity to engage a larger pool of business owners and prospective clients​. “Ultimately, as these [auto-IRA] programs grow, these could be an opportunity for advisors, both for the participants, who are starting to accumulate assets, and also for employers who grow into a 401(k),” said Peg Creonte, “Both on the employer side and the participant side, there’s a lot of potential for advisors.”

David Musto Discuses Ascensus’ Noble Purpose

In a recent BenefitsPRO article, David Musto explains that despite speculation from onlookers due to Ascensus’ recent acquisitiveness and solicitations by its owners, “there is absolutely no doubt Ascensus will be Ascensus in five years.” Ascensus’ ownership will not affect our noble purpose to help 8 million individuals save for what matters most in their lives. ​He also mentions that the SECURE Act’s Open MEP provisions will not disrupt Ascensus’ client base. “We feel that we are already able to deliver on the promises held out by Open MEPs. Many of the aspects that excite people—purchasing power on investments, administrative efficiency—already exist. We have the ability to deliver very cost-effective programs for small companies with high levels of client satisfaction, and high levels of efficiency for the sponsor.”