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Products May 20, 2020
Ascensus to Offer App to Help Participants With Savings Decisions
As employees make savings decisions, the app will offer illustrations of what those elections might mean for future progress.
Reported by Rebecca Moore
Ascensus has announced the upcoming release of a proprietary mobile application called READYSAVE.
READYSAVE will be available to all participating employees across Ascensus’ and its outsourced partners’ 401(k) recordkeeping platforms. It will be available for download in the Apple App Store or on Google Play for Android devices beginning this summer.
READYSAVE will offer a feature that highlights potential consequences of certain decisions to encourage positive savings behaviors. As employees make savings decisions, the app will offer illustrations of what those elections might mean for future progress—including projected years to retirement and projected monthly retirement income.
“In the wake of recent market volatility and business challenges, employees are re-evaluating their financial pictures and looking for insights to help them chart appropriate savings strategies,” says David Musto, Ascensus’ president and CEO. “READYSAVE meets this need, helping retirement savers to understand their next steps and to take actions toward achieving more secure futures.”