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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.
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 ...
Ascensus was also chosen to manage Illinois’ retirement savings program, Secure Choice, in July 2017. Secure Choice was launched in phases in 2018 and 2019. The program is expected to cover 1.2 million workers in total. In August 2018, Ascensus was named program manager of California’s state-facilitated retirement savings program, CalSavers.
While the maximum contribution in each state’s plan may differ, any contributions over the maximum gift tax exclusion – $18,000 for 2024 – could make you liable for gift taxes. In contrast ...
Despite recent years of inflationary spikes and stock market volatility, most Americans haven't cut their retirement savings rate. They also don't plan to sell assets or investments and are taking ...
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.
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