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Ascensus College Savings Partners with VistaShare
Partnership offers unique alternative for organizations looking to invest in children’s future
By: Ascensus, Inc.
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/
“We are honored to bring this solution to the 529 industry with the help and expertise of our business partners at VistaShare,”
“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.”
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)
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.
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.
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/
Gregory FCA for Ascensus