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Ascensus, LLC. is an American financial services company that provides financial recordkeeping, tax-advantaged savings and retirement plan services. As of 2024, the company reports that it manages more than 14 million accounts and oversees more than $808 billion in assets under administration.
Ascensus, founded in 1980 and based in Dresher, Pennsylvania, [ 1] is the largest independent recordkeeping services provider for retirement, government, and health savings plans in the United States, with more than $291 billion in assets under administration. [ 2] The firm expanded into the health benefits administration space through the ...
However, Ascensus would charge me fees of at least $40 a year, and possibly more. I’ve paid no annual fees to Vanguard for my Individual K account, which I opened in 2016 and fund primarily with ...
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.
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.
In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS). Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering. Retirement age in the public sector is usually lower than in the private ...
The goal of retirement planning is to achieve financial independence. The process of retirement planning aims to: [1] Assess readiness-to-retire given a desired retirement age and lifestyle, i.e., whether one has enough money to retire. Identify actions to improve readiness-to-retire. Acquire financial planning knowledge.
Defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum, or combination thereof on retirement that depends on an employee's earnings history, tenure of service and age, rather than depending directly on individual investment returns. Traditionally, many governmental ...
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