529 Account Owners Receive Over $750 Million via Ascensus' Ugift

DRESHER, Pa. - Nov. 27, 2018 - PRLog -- Ascensus—whose technology and expertise helps millions of people save for retirement, education, and healthcare—is pleased to announce that over $750 million has been gifted to 529 education savings accounts through Ascensus' Ugift^®.

Ugift serves as an easy, free-to-use service that lets 529 plan account owners encourage family and friends to give the gift of education savings in lieu of traditional gifts. Ugift is available to account owners invested in a 529 education savings plan administered by Ascensus.

Account owners receive a unique Ugift code for each beneficiary, which can then be shared with others and used to contribute to the account directly and securely. Contributions can be given at any time, either electronically or by mail. Ascensus also offers the Ugift program to individuals living with disabilities as a benefit of their ABLE savings accounts.

"Our vision for Ugift was to provide a simple, easy tool for friends and family to gift into 529 accounts at any time," says Kevin Cox, head of Ascensus' government savings division. "To see that vision fulfilled is truly gratifying."

Recent enhancements to the Ugift program have made it even simpler to give the gift of savings. Ugift now allows gift givers to set up a profile through which they can view their gift history and schedule recurring gifts. Within their profiles, gift givers can also add and save for multiple beneficiaries. Since the introduction of these features, Ascensus has seen 75% of recurring gift givers contributing on a monthly basis.

Ascensus' data also shows that Ugift experiences a major spike in utilization over the holiday season. In fact, over 26% of all contributions in 2017 were made in the months of November and December.

"Saving for your child or beneficiary is much easier with help from family and friends; as the Ugift program continues to grow in popularity, parents are finding it even easier to have conversations with their loved ones about this alternate gifting method," adds Cox. "With the holiday season upon us, we expect to see Ugift contributions ramp up as more people recognize the importance of giving the gift of education."

For more information on Ugift, check out this video (https://ascensus-1.wistia.com/medias/4tlrduytqq) or visit Ugift529.com or UgiftABLE.com.

About Ascensus

Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. The firm delivers technology and expertise to help millions of people save for what matters most—retirement, education, and healthcare. For more information about Ascensus, visit ascensus.com. View career opportunities at careers.ascensus.com.

Before investing in any 529 plan, please consider whether your or the beneficiary's home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that state's 529 plan.

When you invest in a 529 plan, you are purchasing municipal securities whose value may vary based on market conditions. Investment returns are not guaranteed, and you could lose money by investing in a 529 plan. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences.

The availability of tax advantages or other benefits may be contingent on meeting other requirements. Please consult your financial, tax, or other advisors to learn more about how state-based benefits and limitations would apply to your specific circumstance. You may also contact your home state's 529 plan(s), or any other 529 plan, to learn more about those plans' features, benefits and limitations.

Ugift^® is a registered service mark of Ascensus Broker Dealer Services, LLC.