In the News

David Musto Reflects on Leading Through Challenging Times

In a recent Forbes feature​, president and CEO David Musto reflects on his experience leading through complex problems and challenging times, most recently during the COVID-19 pandemic. Musto summarizes his top priorities in the face of the COVID outbreak: shifting associates to remote work; finding ways to engage and communicate with thousands of associates, partners, & clients; addressing a broad variety of cybersecurity risk factors; and more. He also comments on the “profoundly personal” effect that the pandemic has had on people across the globe, and how that has raised the stakes even more in his quest to effectively lead and continue to deliver for Ascensus’ clients.

“Great leadership is about setting a clear direction, being a purveyor of hope and optimism, sustaining trust, and getting results. High functioning leaders are able to do some combination of those things well,” states Musto.


Chard Snyder Recognized by WEX Health for Outstanding Achievement at WEX Momentum Virtual Awards Ceremony

Earns Sales Excellence Award for Innovative Growth Strategies 

Mason, OH — Chard Snyder, a national third-party administrator of employee benefit solutions and wholly owned subsidiary of Ascensus, has been honored by WEX Health with a 2019 Partner Excellence Award for outstanding business achievements. The employee benefit solutions provider received the Sales Excellence Award at the WEX Health Momentum event held virtually in place of the annual WEX Health SPARK Partner Conference.

Chard Snyder was selected for the award because of its significant accomplishments in identifying new and innovative ways to drive growth, along with successful execution on unique and differentiated sales strategies, campaigns, and channel programs to enhance partnerships. The firm has been recognized by WEX Health in past years for innovation and service, most recently receiving the Solution Visionary Award in 2018.

“Identifying new and innovative ways to drive growth is key to succeeding in our industry,” said Jeff Ackerson, Vice President, Partner Experience at WEX Health. “Chard Snyder takes calculated risks, focuses on new markets, and leverages relationships within their parent company’s ecosystem that allow them to accelerate growth. They’re an organization that continues to impress. They work to identify key ways to partner with organizations, and constantly challenge themselves to be better, do better, and create more opportunities.”

“We are honored to receive recognition from WEX Health again this year,” said Chard Snyder President Barb Yearout. “The Chard Snyder team works hard every day to provide personal and flexible benefit solutions to make life easier for our clients and plan participants.”

“Our collaboration with best-in-class partners like WEX enables us to offer forward-thinking, easy-to-use solutions supported by smart technology and a dedicated personal team,” concluded Yearout.

The Excellence Awards, established in 2008, are presented yearly and recognize WEX Health Partners that have achieved extraordinary notable accomplishments. Chard Snyder has been a WEX Health partner since 2005.

About Chard Snyder

As a national third-party administrator of employee benefit solutions, Chard Snyder serves 1,500 employers in 38 states across the U.S. Chard Snyder administers savings and spending accounts (FSA, HSA, HRA, commuter benefits), benefit continuation services (COBRA; retiree, direct and other billing) and FMLA leave, and provides plan document services. Founded in 1988 by Ken Chard and Joy Snyder, the company employs over 200 team members today. Chard Snyder is a wholly owned subsidiary of Ascensus and part of its Health & Benefits line of business. Visit chard-snyder.com or call 833.212.1988 to learn more.

About Ascensus

Ascensus helps millions of people save for what matters—retirement, education, and healthcare. Our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. For more information, visit ascensus.com. Explore Ascensus’ latest data and insights on savings behaviors at pulse.ascensus.com.


Peg Creonte Discusses Saver Reactions to COVID-Related Market Volatility

Peg Creonte, president of Ascensus’ Government Savings line of business, was featured in a recent New York Times article​ where she commented on 529 savers’ reactions to COVID-related market volatility. She shared that while one-time contributions to 529 plans on our platform had fallen in recent months compared to 2019, scheduled contributions mostly weren’t affected. “We did not see any sort of panicked reaction,” she added.​


Ascensus’ READYSAVE™ App will Aid Participants with Savings Decisions

Following the recent announcement of Ascensus’ new READYSAVE™ mobile app, both PLANADVISER and PLANSPONSOR released articles spotlighting its features. Specifically, the articles highlight the app’s ability to predict the potential consequences of saving decisions as a way to encourage positive savings behaviors. READYSAVE, which will become available this summer, will serve all participating employees across Ascensus’ and its outsourced partners’ 401(k) recordkeeping platforms.


Ascensus Releases Online COVID-19 Resources

PLANADVISER and PLANSPONSOR recently covered Ascensus’ rollout of various COVID-19-specific resources. These resources include a new Ascensus.com homepage design, a Coronavirus Aid, Relief and Economic Security (CARES) Act infographic series, a behavioral analytics series, a Change of Plans guide, and frequent legislative updates. “Advisers and retirement plan sponsors face a dual-edged challenge today: dealing with the life-altering realities of the COVID-19 pandemic and responding thoughtfully to the way that it’s impacting their businesses, retirement plans and participants,” says David Musto, Ascensus’ president and CEO.


How Ascensus’ Plans and Participants Reacted to COVID-19 in March

Recent NAPA and ASPPA articles, citing data provided by Ascensus, discuss the effect of the COVID-19 pandemic on U.S. employees’ savings behaviors in March. The Ascensus data serves as an “early baseline” for the evolution of contribution and withdrawal behavior in response to the virus. These early insights suggest that many Americans adjusted their contributions to savings plans. However, savers haven’t yet tapped into existing savings and are making efforts to “stay the course” to help ensure financial security.


David Musto Comments on COVID-19’s Impact on Retirement Plans

In a recent BenefitsPRO article, President and CEO David Musto commented on COVID-19’s impact on retirement plans as well as Ascensus’ approach during this time. Musto states that Ascensus is working hard with plan sponsors to help solve any immediate financial needs that may arise while continuing to support their employees’ long-term retirement security goals. “Among the things that we discuss are how plan expenses and company contributions are funded, how plan expenses are allocated, and what plan design alternatives could be explored,” said Musto. “Above all else, we want to help our clients – and small businesses in particular – keep their plans intact for the American workforce.”


Dan Basile Shares Best Practices for Fostering Engagement with Financial Wellness Programs

In a PLANSPONSOR webcast​ presented on March 25, Dan Basile, Ascensus’ head of retirement product, shared perspective on tactics employers can leverage to foster employee engagement with their financial wellness offerings. He encourages employers to utilize multi-channel communications tactics and to identify employee advocates who can act as champions of the program to their colleagues.

He also shared insight on why Ascensus chose to partner with Financial Finesse and how we’ve incorporated their wellness tools and services into our core retirement plan product to ensure employees across businesses of all sizes could access the tools and education they need to chart a personalized savings strategy. Watch a full recording of the webcast here​.