Ascensus, a technology-enabled solutions provider that helps more than 7 million Americans save for the future, is proud to participate in National Retirement Security Week 2017. National Retirement Security Week is an annual weeklong initiative dedicated to raising public awareness about the importance of saving for retirement.
National Retirement Security Week, held during the third week of October, was established by the United States Congress in 2006 as a way to promote retirement savings among Americans and encourage more employees to participate in their employer-sponsored retirement plans.
According to the 2016 National Employee Benefits Survey by the Bureau of Labor Statistics, 69% of American workers have access to retirement benefits through their employers but only 54% participate in these plans. The Boston College Center for Retirement Research’s National Retirement Risk Index (the NRRI) has shown that about half of today’s working-age households won’t be able to maintain their preretirement standard of living in retirement. In order to address this retirement savings gap, retirement plan sponsors and providers like Ascensus join in the celebration of National Retirement Security Week, giving savers the insights they need to make informed decisions.
Ascensus specializes in recordkeeping and administration, third-party administration, and compliance services for qualified retirement plans, IRAs, and state-sponsored retirement programs. The firm channels its vast experience to create retirement plan solutions and tools that make it easier for individuals to reach their savings goals. As a National Retirement Security Week participant, Ascensus will share savings tips throughout the week on social media using the campaign’s official hashtag (#NRSW17).
“At Ascensus, we understand that everyday priorities and competing expenses can make saving for the future a challenge. With our recent acquisitions and entrance into the state-sponsored retirement plan market, we can now help an even broader base of Americans, including those who might not have access to a workplace plan, save for their retirement goals,” states Shannon Kelly, Ascensus’ president of retirement.
“This National Retirement Security Week, we celebrate our dedicated associates, our clients who provide their employees with a plan for retirement, our financial institution partners, and our network of financial professionals who encourage positive savings behaviors.”
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.
About National Retirement Security Week (NRSW)
NRSW is a national effort to raise public awareness about the importance of saving for retirement. It is held annually during the third week of October. Congress first passed the enabling legislation for NRSW in 2006, at the request of the National Association of Government Defined Contribution Administrators (NAGDCA), NRSW has continued each year with Congressional support. Most recently, in 2016, the Senate passed Resolution 575 continuing its support of National Retirement Security Week. The primary sponsors of are Senator Ben Cardin (D-MD) and Senator Mike Enzi (R-WY).