Firm Continues to Promote Awareness for Specialized Investment Program
Dresher, PA—September 7, 2017—Ascensus, a technology-enabled solutions provider that helps more than 7 million Americans save for the future, is pleased to announce that it now services Achieving a Better Life Experience (ABLE) programs across 16 states.
ABLE programs were established following the passage in December 2014 of the federal Stephen Beck Jr., Achieving a Better Life Experience Act (the ABLE Act) to allow people with a disability or blindness to save for the future without jeopardizing their federal disability benefits. ABLE savings accounts allow for tax-deferred investment growth and tax-free withdrawals when savings are spent on qualifying disability-related expenses.* Ascensus has positioned itself as a leader in the ABLE space, providing services for 16 of the 28 existing ABLE programs across the country. Current partnerships include Alabama, Alaska, Colorado, District of Columbia, Illinois, Iowa, Indiana, Kansas, Minnesota, Montana, Nebraska, Nevada, New York, North Carolina, Pennsylvania, and Rhode Island.
Ascensus provides account administration, investment management, and fulfillment services for its state partners. The firm recently teamed with the ABLE National Resource Center to celebrate the first annual #ABLEtoSave month in August. This grassroots education and informational campaign sought to increase awareness and accessibility of ABLE accounts and to accelerate the number of accounts opened across the country in the short- and long-term. The ABLE National Resource Center hosted a series of informational webinars over the course of the month focused on helping current and prospective account owners identify the ABLE program and savings strategy best suited to their goals.
Ascensus has also taken steps to make the savings process simple and convenient for account owners with the ABLE Ugift program. Ugift® is a free-to-use, easy-to-use service that enables account owners to receive gift contributions via a simple and secure web experience. Family and friends can visit UgiftABLE.com, enter the unique gifting code for the ABLE account, and complete their contribution in just a few minutes.
“The fact that we support a majority of the existing ABLE plans demonstrates our continued commitment to these programs and the families and individuals they benefit,” states Jeff Howkins, president of Ascensus’ college savings’ division. “We take pride in offering assistance to people living with disabilities or blindness to save for the specialized care and resources they need.”
Ascensus helps more than 7 million Americans save for the future—retirement, college, and healthcare—through technology-enabled solutions. With more than 35 years of experience, the firm offers tailored solutions that meet the needs of asset managers, banks, credit unions, state governments, financial professionals, employers, and individuals. Ascensus supports approximately 50,000 retirement plans, more than 4 million 529 college savings accounts, and a growing number of ABLE savings accounts. It also administers more than 1.5 million IRAs and health savings accounts. As of June 30, 2017, Ascensus had over $155 billion in total assets under administration. For more information about Ascensus, visit ascensus.com.
* Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as applicable state and local income taxes.