Ascensus Client Wins Principal Financial Group’s 10 Best Companies Award

Aug. 30, 2010 - PRLog -- Ascensus, a leading retirement plan solutions provider, today announced that its client, Red River Federal Credit Union, based in Texarkana, Texas, has received the 2010 Principal Financial Group’s 10 Best Companies for Employee Financial Security award.  Ascensus partnered with Red River Credit Union to design, develop and deliver the 401(k) retirement plan that has achieved 100 percent employee participation and was a primary factor in receiving this recognition.

“Even during the tough economic times, we have continued to focus on improving our employee benefits in an effort to motivate, retain and attract employees,” explained Karen Rhodes, HR director for Red River Credit Union.  “Achieving 100 percent participation in our 401(k) program is a direct result of our strong relationship with Ascensus and our financial advisor, The Noble Group, and the one-on-one meetings they hold with our 200 employees to educate, advise and engage them in the plan.  We have been extremely happy with the knowledge of and service provided by our account manager, Lanna Smith, and the rest of the Ascensus team, the valuable reports that they provide our investment team and the individual employees, as well as the fact that they continually improve their processes to make year-end processing and reporting payroll contributions easy.  We never worry about compliance or audits with Ascensus’ recordkeeping.”

“Red River Credit Union’s commitment to their employees is admirable and to be a part of their effort is extremely rewarding,” said Kathleen Endres, executive vice president, Client Services for Ascensus.  “With the industry average for 401(k) participation being about 71 percent, there is no doubt that Red River Credit Union deserves this award with their 100 percent status and generous employer match.  We look forward to continuing our 10-year relationship with them and our partnership with The Noble Group and supporting Red River in their efforts to make sure each and every one of their employees is financially secure.”  

In addition to the third party 401(k) administrative services Ascensus provides Red River Credit Union, they also handle IRA administration and provide a number of ancillary products for the Credit Union.

The Principal 10 Best Companies for Employee Financial Security  is a nationwide program, sponsored by the Principal Financial Group, that recognizes growing companies that excel in giving their employees the financial edge they need in life.  The nominations were evaluated by an independent panel of financial services and human resources experts, and the winners were selected based on their commitment to benefits that contribute most to the long-term financial security of employees.

Red River Federal Credit Union and Ascensus will be recognized at a ceremony being held on October 19 at the Northridge Country Club in Texarkana, Texas.

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About 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.