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Employers: Retirement Plan Sponsors

Ascensus Consulting is a retirement administration, plan design, and actuarial firm that is wholly owned by Ascensus--the largest independent retirement and college savings services provider in the United States. We serve clients across the United States from our offices in Indiana, New Jersey, and Florida.

We are not associated with any particular investment fund and do not manage assets; our fees are based on administration services provided. We work as a team with financial professionals, chosen by the employer, to help design and implement plans that best serve the client’s goals.

Our Service Commitment for Employers
  • Easy - Make it as easy as possible to install an employee retirement plan
  • Fee Control – Design the plan to control administrative costs
  • Tax Deductions - Design the plan in a way that maximizes available tax deductions
  • Owner’s Retirement Savings - Design the plan to maximize retirement savings for the owners of the company in relation to available resources and the limits established by the Department of Labor and Internal Revenue Service laws and rules
  • Personal Services - Provide personal and consistent service by assigning a two-person team consisting of a consultant and an assistant to each plan
  • Education – Provide educational materials including an employer quarterly newsletter and a plan participant newsletter
Reasons for 90% Client Retention
  • Direct contact between our consultant/assistant service teams and the clients provides for personal service to address any questions specific to transitions and any ongoing plan concerns
  • Low turnover among our staff provides clients with continuity with the same service team
    Flexibility to transition to a different investment provider or financial professional while keeping Ascensus Consulting as the plan administrator to ease the transition
Installing a Plan is a Team Effort – Don’t Do it Alone
 
Employers that choose to offer a tax qualified retirement plan for their employees rely on third-party administrators, such as Ascensus Consulting, to help them comply with the Internal Revenue Service’s and Department of Labor’s rules and regulations. The consequences for employers that intentionally or unintentionally operating a tax qualified retirement plan incorrectly are severe and could include heavy civil or criminal penalties.
To function properly, a plan requires a team that works together. This team includes the employer, a financial professional, a third-party administrator, and the eligible employees. The employer makes no profit for themselves for having a plan. Employers typically offer it as a benefit to help recruit and retain employees. The employer may choose to match a portion of the employee contribution as an incentive to encourage employee participation, or might deposit money from the company’s profits into each eligible employee’s account.
 
Financial professionals help determine a plan’s asset providers (investment choices) and educate the employees on the importance of retirement savings and diversifying investments. They work with the third-party administrator to consistently review how to utilize the plan to meet the goals of the employer and the participants.
The third-party administrator monitors the plan to help ensure it is in compliance with the evolving Internal Revenue Service and Department of Labor rules. For example, among the hundreds of rules to follow, one states that no eligible employee can be discriminated against—each employee at the company should be afforded the same opportunity to participate or not. In addition to helping ensure a plan’s compliance, Ascensus Consulting provides consultation and teaches employers how to operate a plan properly.
 
Ascensus Consulting provides all levels of plan administration, compliance testing, plan design, daily valuations, government reporting, plan implementation, and retirement plan document preparation. The firm is independent from any particular investment fund, and does not manage the plan assets. An independent third-party administrator gives the employer and the financial professional the most flexibility should the employer decide to select a different asset provider, a different financial professional, or a different third-party administrator. Since these roles are all separate, the employer could replace them one at a time, and keep the stability of the other two.

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 for more information.