Ascensus College Savings Partners with VistaShare

Partnership offers unique alternative for organizations looking to invest in children’s future
By: Ascensus, Inc.
 
 
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College Savings
529 Plan Administration
Child Development Account
Technology Partnership
Ascensus

Industrys:
Business
Finance

Location:
Dresher - Pennsylvania - US

Subject:
Partnerships

DRESHER, Pa. - July 29, 2015 - PRLog -- Ascensus, Inc., the nation’s largest independent retirement plan and college savings services provider, announced a strategic partnership between Ascensus College Savings and VistaShare, LLC, to provide a 529 solution to sponsors of Child Development Accounts (CDAs).

Ascensus College Savings is a leading administrator of 529 plans and provides a range of service models from recordkeeping and administration to full-service program management. VistaShare is a leading vendor of administration software for CDAs, which are savings vehicles set up for cohorts of children to help save for their future and often provide monetary incentives for continued savings.

The Ascensus College Savings-VistaShare partnership is designed to provide a solution for CDA programs that want to incentivize families to save for college through 529 plans.

Many of these savings programs also provide incentives for families to open their own savings accounts. This new solution will notify VistaShare’s Outcome Tracker technology when families save on their own, automating incentives and further motivating them to save.

“This partnership has the potential to greatly advance incentivized college savings for children,” said Margaret Clancy, policy director at the Center for Social Development (CSD), at Washington University in St. Louis. At CSD, an experiment that models the first universal CDA policy in the United States is yielding promising results (http://csd.wustl.edu/Publications/Documents/RB15-08.pdf) for parents and children, including improvements in mothers’ expectations for their children’s education.

“We are honored to bring this solution to the 529 industry with the help and expertise of our business partners at VistaShare,” said Peg Creonte, senior vice president at Ascensus College Savings. “Ascensus College Savings strives to support the efforts of community organizations and families alike that are looking to invest in their children’s futures. We continue to invest in technological advancements that improve the accessibility and affordability of 529 savings plans.”

“We are grateful for the opportunity to work with Ascensus and create the technology that brings matched savings 529 accounts to children across the country,” said Dave Smucker, president and co-founder of VistaShare. “We believe Child Development Accounts will help many children realize a better future and we’re excited to be part of the effort to make CDAs available on a broader scale.”

Please note:

Before investing in any 529 plan, you should consider whether your or the designated beneficiary's home state offers a 529 plan that provides its taxpayers with state tax and other benefits that are only available through the home state's 529 plan. You also should consult your financial, tax, or other advisor to learn more about how state-based benefits (or any limitations) would apply to your specific circumstances. You also may wish to contact directly your home state's 529 plan(s), or any other 529 college savings plan, to learn more about those plans' features, benefits, and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision.

Investment objectives, risks, charges, expenses, and other important information are included in a 529 college savings plan's offering statement; read and consider it carefully before investing.

About Ascensus

Ascensus is the largest independent retirement and college savings services provider in the United States, helping over 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 40,000 retirement plans and over 3 million 529 college savings accounts. It also administers more than 1.5 million IRAs and health savings accounts.

For more information about Ascensus, visit www.ascensus.com. For the latest company news, follow @AscensusInc on Twitter.

About VistaShare

VistaShare’s Outcome Tracker is the leading software system for matched savings programs, including Child Development Accounts for children and Individual Development Accounts for adults. Outcome Tracker also serves nonprofit programs across North America in the areas of Community and Economic Development, Social Services, and HUD Housing Counseling.

For more information about VistaShare, visit www.vistashare.com, www.facebook.com/vistashare, or follow @VistaShare on Twitter.

Contact
Gregory FCA for Ascensus
***@gregoryfca.com
End
Ascensus PRs
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