Looking ahead, new plans effective 1/1/11 will benefit from an improved pricing structure. Ascensus has eliminated the one-time fee for establishing or converting a plan.
Focused on efficiency, Ascensus has increased reporting capabilities with the online quarterly Planillustrator report. Planillustrator consolidates extensive plan information into a comprehensive package giving both financial advisors and plan sponsors the ability to track key plan metrics such as plan demographics, capital market review, investment lineup review and fund fact sheets. Ascensus previously announced expanded fiduciary protection offered through strategic partnerships with sister company Crump Property and Casualty Insurance Services for fiduciary liability insurance and with Mesirow Financial Investment Strategies Group, for investment fiduciary coverage. These initiatives collectively provide plan sponsors with comprehensive tools to help ensure regulatory compliance.
Ascensus has also broadened its education program for plan participants. Each year, Ascensus will automatically send customized communications to employees who either aren’t contributing or who aren’t contributing enough to maintain a desired retirement lifestyle. These Targeted Communications are personalized and proactively prompt employees to save for retirement goals with sample illustrations and helpful suggestions. With a focus on increasing plan participation and helping more employees achieve financial security, Ascensus mails these communications at no additional cost to the plan sponsor.
“Our goal is to always provide advisors comprehensive retirement plan support and the tools to improve plan management efficiencies, increase participation and make doing business easier. The enhancements to the Ascensus platform mean even greater flexibility to deliver solutions for every type of business and need,” stated Mike Narkoff, senior vice president, Sales at Ascensus.
With more than 30 years of industry experience, Ascensus delivers high-quality solutions for every segment of the retirement plan marketplace. A division of Crump Group, Inc., a leading provider of retirement services and the largest, most diversified wholesale insurance distributor in the U.S., Ascensus services nearly 27,000 defined contribution plans in the micro to large markets and administers over 1.5 million IRAs. Core capabilities include ERISA consulting, compliance support, sales, trust services, multilingual participant education, training and documentation. Solutions are offered with open architecture investment capabilities tailored to the needs of institutional partners, third party administrators, financial advisors, plan sponsors and participants. Learn more at www.ascensus.com.
Not all enhancements are available in all products. Contact Ascensus for information on availability. Ascensus provides administrative and recordkeeping services and is not a broker-dealer or investment advisor.
Ascensus is not licensed to sell insurance, and all insurance sales will be made through Crump. Ascensus and Crump are affiliates. Crump will receive compensation for any coverage purchased. The precise coverage afforded in this program is subject to the terms, conditions and limitations of the policies as issued. Whether or to what extent a particular loss is covered depends on the facts and circumstances of the loss and the terms, conditions and limitations of the policy as issued.
Mesirow Financial and its affiliates are not related to Ascensus and its affiliates.