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Retirement savings. In December 2016, Ascensus was chosen to manage the Oregon Retirement Savings Plan, the first state-sponsored retirement savings plan in the country. With it, Oregon aims to cover around 1 million working citizens who are currently not covered by an employer-sponsored retirement plan. The program launched in July 2017.
After 16 years as President & CEO of NRS, and 40 years of service in the qualified retirement plan administration industry, Mr. Sciarra sold NRS to a pension administration and record keeping company, Ascensus, in December, 2016. Mr. Sciarra is currently a business consultant and conference speaker for a wide range of businesses and industries.
Ascensus is one of the largest independently operated retirement plan service providers in the United States, servicing more than 105,600 retirement plans through various partnerships. The company is focused on giving small businesses the same access to retirement and savings benefits as large-scale corporations. [20]
Types of retirement plans. Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.
Though retirement was viewed by some as an essential adjustment, many among the older populace resisted the idea of retirement. By 1935, the idea of paying older persons a pension sufficient to get them to quit working became widespread. A Californian, Francis Townsend, proposed a plan offering compulsory retirement at age 60. In return, the ...
Ascensus Enters into Agreement to Acquire 529 Plan Administration Business from Sallie Mae DRESHER, Pa. & NEWARK, Del.--(BUSINESS WIRE)-- Ascensus, the nation's largest independent retirement plan ...
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A pension fund, also known as a superannuation fund in some countries, is any program, fund, or scheme which provides retirement income . Pension funds typically have large amounts of money to invest and are the major investors in listed and private companies. They are especially important to the stock market where large institutional investors ...
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