Ascensus Expands Markets for its IRAdirect® Service for IRA AND HSA Programs

DRESHER, Pa. - Jan. 8, 2014 - PRLog -- Ascensus, the largest independent retirement plan and college savings services provider, announced today an  upgrade of IRAdirect®, its core software that services Fully-Administered Online individual retirement account (IRA) and health savings account (HSA) programs that enables more financial institutions to use the software.

Ascensus’ IRAdirect makes IRA and HSA administration available to financial organizations looking to increase operational efficiency, improve client service, and reduce compliance risk while increasing transactional accuracy. The key feature of the IRAdirect upgrade is an industry-leading, compliant IRA opening document and an updated user interface that allows virtually any type of financial organization to make use of the service and increased scale Ascensus now offers.

“IRAdirect allows financial organizations to manage the ever-increasing needs of their clients while also keeping up with continual regulatory changes,” said Steve Christenson, executive vice president at Ascensus. “Offering this popular solution—previously only offered to credit unions—to community banks and others has us particularly excited about the growth potential that the IRAdirect upgrades will enable.”

IRA administration from Ascensus offers tax reporting for the financial organization to both regulatory entities and account owners, beneficiary claim review, required minimum distribution notifications, and powerful forms wizards to help financial organizations do more with limited resources. A natural complement to this service is HSA administration. By adding the HSA component to IRA administration, financial organizations can expand relationships into new markets—such as small businesses and self-employed individuals.

About Ascensus

Ascensus is the largest independent retirement and college savings services provider in the United States, helping 6 million Americans save for the future. With more than 30 years of experience, the firm partners with financial institutions to offer tailored solutions that meet the needs of financial professionals, employers, and individuals. Ascensus specializes in recordkeeping, administrative, and program management services, supporting over 43,000 retirement plans and 2.8 million 529 college savings accounts. It also administers more than 1.5 million IRAs and health savings accounts. For more information, visit www.ascensus.com.