Data & Research January 11, 2017

Ascensus Launches New Retirement Plan Website

 Along with a revamped version of its company website, Ascensus plans to lead a series of technological enhancements in 2017.
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Ascensus, a retirement plan and college savings services provider, has announced a technological overhaul which will include a redesign of its retirement plan and participant websites expected to be unveiled at the end of the first quarter. The initiative will begin with the launch of a new www.ascensus.com  

The new website will offer an enhanced user-experience allowing visitors to self-identify before seeing relevant products, services and savings plan information. The site will also feature a newsroom section where users can access the latest on company news, thought leadership, and savings industry regulatory updates. Current clients will have access to a login portal.

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“We wanted to provide concise, easy-to-understand information to help our website visitors make sound decisions,” says Roberta Hess, vice president of marketing and communications. “Our approach is simple by design, helping Americans confidently save for their futures.”

CEO Bob Guillocheau adds, “As we head into 2017 and continue to grow our organization, it’s imperative that we maintain our focus on the value that we provide to our clients in helping them save for retirement, college, and health care. We listened hard to what our clients were asking of us with our upcoming digital initiatives—the new solutions are truly being built with our clients in mind.”

The new corporate website is designed to reflect the company’s retirement, college, and health savings account services, while helping partners and clients connect with Ascensus’ team of experts.

These updates follow the firm’s recent launch of its Web-based SEP and Simple IRA program. It also recently released a health-savings account (HSA) investment platform for banks and credit unions as well as a commission-based solution 

“The new Ascensus.com is just the first in a series of enhancements that we’re excited to provide to both current and prospective clients,” says Guillocheau. “All of us at Ascensus are looking forward to what we plan to accomplish in 2017 as our company continues to grow.”

Data & Research January 11, 2017

Businesses Not Keen on State-Run Retirement Plans

However, small and mid-sized business owners survey by The Pew Charitable Trusts do like the idea of auto-IRAs and other ways to provide retirement plans to employees.
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Small and mid-sized employers surveyed by the Pew Charitable Trusts most often cited expense (71%), limited administrative resources (63%), and lack of employee interest (50%) as main reasons for not offering retirement plans.

Three-quarters of business owners who do not offer a plan said that under current circumstances, they would be no more likely to offer one in the next two years than they are now. Key changes that could lead employers to offer a plan include greater profitability, financial incentives, and increased demand from employees.

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When asked about individual retirement account (IRA) plans funded entirely by employees that use automatic enrollment and pre-determined deductions from their pay, employers without plans were either somewhat or strongly supportive of the concept. Many said the main reason for this support was that the auto-IRA plan would help their employees.

State-Run Plans Not Widely Embraced 

At the same time, that support varied somewhat depending on which entity served as the program sponsor. Support for an auto-IRA initiative proved highest if the plan would be sponsored by an insurance or mutual fund company; it dropped if a state or federal government ran the program. Still, more than 40 percent supported a government-run program.

If their state implemented an auto-IRA plan, 13% of businesses that already have plans said they would drop theirs and enroll their workers in the state program. Meanwhile, half of those without plans said that they would start their own rather than go into the state program. For employers that have been contemplating whether to start a plan, the auto-IRA program might nudge them to consider plan sponsorship.

Employers expressed strong support for voluntary programs such as online marketplace exchanges or multiple employer plans. 

The Pew Charitable Trusts recently surveyed more than 1,600 small and medium-sized business owners or managers to better understand the barriers to—and motivations for—offering retirement plans and to get their views on policy initiatives. The survey included employers who sponsor plans and those who do not. The responses, in one of the few such surveys conducted in the past decade, generally show strong support for offering retirement benefits and for various policy initiatives that would boost savings.

The Pew Charitable Trust’s Issue Brief about its findings is here.

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