David Musto Notes GOP Tax Bill May Affect Retirement Savers

By Paula Aven Gladych, Employee Benefit Adviser December 20, 2017

Employee Benefit Adviser​ recently published an article featuring commentary from David Musto, president of Ascensus, about the GOP tax bill. This final tax reform bill merges ​versions from the House and the Senate, and it may affect the ability for ​small businesses to host retirement plans. ​The bill will also relax hardship distribution rules for employer-sponsored retirement plans. Musto comments, “It could be good for the […]

Neil Smith Discusses Shifting Retirement Industry Landscape

By Ascensus December 20, 2017

PLANADVISER recently spoke​ with Neil Smith, executive ​vice president of corporate strategy, to discuss how financial advisors can adapt to the shifting landscape of the retirement industry. Neil highlights some of advisors’ primary challenges, how they can position themselves to succeed, and how Ascensus can help. “Ascensus is and always has been advisor-centric. We only service plans through the […]

Senate Passes Tax Reform Bill, House Must Now Revote

By ERISA News December 20, 2017

Early morning today, December 20, the Senate passed the Tax Cuts and Jobs Act, after minor changes to the House of Representatives-passed version that took place yesterday. These changes will require that the House to vote on the bill a second time, expected to occur today. This will set the stage for the legislation to be signed […]

House and Senate Conferees Agree on Tax Reform Provisions, Voting Soon

By ERISA News December 18, 2017

A conference committee made up of select members of the U.S. House of Representatives and U.S. Senate has agreed on final provisions of tax reform legislation, and late Friday released text of a compromise version of the Tax Cuts and Jobs Act of 2017.  The next step will be votes in the full Senate and […]

Scott Morrison Discusses 529 College Savings Plans and Auto-IRA Market Predictions

By Mark Miller, Reuters December 15, 2017

In a recent Reuters article​, Scott Morrison discussed the historical track record of 529 college savings plans, as well as his predictions for the state-sponsored auto-IRA market. “Ascensus administers 529 plans in 18 states; many launched 15 years ago charging account holders 150 basis points, with additional fees for enrollment and disbursement transactions,” notes Morrison. “We think […]

IRS Issues Reminder About Retirement Effects of Hurricane Relief Legislation

By ERISA News December 13, 2017

The IRS has released a reminder notice of the tax-related relief granted by the Disaster Tax Relief and Airport and Airway Extension Act of 2017. This legislation, enacted in early October, provides special options for those affected by Hurricanes Harvey, Irma, and Maria, including options specific to IRA and employer retirement plan assets. The reminder […]

Washington Pulse: Automatic Retirement Plan Act Proposes Mandatory Retirement Plans

By ERISA News December 11, 2017

Rep. Richard Neal (D-MA), the ranking democrat on the House Ways and Means Committee, recently introduced the Automatic Retirement Plan Act of 2017 (ARPA). The bill, if enacted, would have significant retirement savings plan implications. ARPA is a step beyond Rep. Neal’s past legislative efforts, which have included introducing bills to require employers with no […]

Scott Morrison Discusses OregonSaves Pilot Program

By Lisa Nagele-Piazza, Society for Human Resource Management December 11, 2017

In a recent article​ published by Society for Human Resource Management, ​Scott Morison, chief product officer at Ascensus, discusses the OregonSaves ​retirement program. OregonSaves is an ​automatic individual ​retirement account (auto- IRA), in which ​employees invest a percentage of their wages every pay period. “We are pioneers and understand the world is watching,” says Morrison. “Folks from the HR industry, financial services companies […]

Rick Irace Explains How to Establish a Service Culture

By Rick Irace, Ascensus December 11, 2017

Rick Irace, chief operating officer of Ascensus’ retirement division, explains the strategies behind establishing a ​service culture at any organization, in a recent article​ published by Chief Executive.​ A service culture has the potential to improve client satisfaction, employee happiness, and ​​work environment. ​​”Service cultures start with you, the executive, and trickle down to every aspect of th​e business,” states Irace. ​

Ugift Reaches $500 Million Gifted Milestone

By Asia Martin, Financial Advisor December 11, 2017

The Ascensus Ugift program has reached the milestone of ​​$500 million gifted to 529 accounts, as noted in a recent article​ ​by Financial Advisor. Launched in 2007, Ugift allows family and friends of 529 and ABLE account holders to electronically contribute toward a loved one’s education. The program ​first ​reached $100 million in contributions only a few years ago​. ​​​

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