Press Release

Ascensus Supports Institutional Partners, Advisors, and Their Clients with Challenges Related to COVID-19 Pandemic

Issued by Ascensus

Apr. 30, 2020

DRESHER, Pa., April 30, 2020 -- Ascensus, whose technology and expertise help millions of people save for retirement, education, and healthcare, is supporting institutional partners, advisors, and their clients during the COVID-19 pandemic via a variety of approaches that include COVID-19-specific resources, infographics, behavioral analytics, legislative insights, and more. 

"Advisors and retirement plan sponsors face a dual-edged challenge today: dealing with the life-altering realities of the COVID-19 pandemic and responding thoughtfully to the way that it's impacting their businesses, retirement plans, and participants," said David Musto, president and CEO of Ascensus. "We know that they look to our institutional partners and Ascensus for guidance; that is why we're committed to doing everything we can to support them during these uncertain times."

Ascensus' industry-leading ERISA team—which is among the largest in the nation—has been monitoring and analyzing all legislative and regulatory developments regarding COVID-19 since the pandemic began to tangibly affect the U.S. in March. The company immediately mobilized its client service, technology, marketing, and product teams with the intent of offering unparalleled support to partners, advisors, and their clients, including deploying the following:

• Dedicated COVID-19 Ascensus.com Homepage: The company's traditional homepage has given way to a COVID-19-focused summary of information and tools that provide resources for advisors and employers, including timely  updates, analysis, and decision-support guides. The intuitive layout and design guides site visitors to the latest COVID-19 regulatory updates and expert analysis from Ascensus' ERISA team.
• CARES Act Infographic Series: A multi-part series of easy-to-use-and-share infographics breaks down the provisions of the CARES Act and other related COVID-19 guidance. Infographics on Coronavirus-Related Distributions and the Required Minimum Distribution Waiver are now available, with several more planned in the coming weeks.
• Behavioral Analytics Series: Insights and analytics from Ascensus' data scientists are now available that highlight emerging trends in savings behaviors that can help advisors and their clients better consider plan design alternatives, support decision-making, and focus participant communication and education efforts. 
• Change of Plans Guide: This piece was created specifically for advisors to help plan sponsors manage expenses to meet their short-term financial needs, avoid undue fiduciary risk, and support their long-term retirement security goals.
• Legislative Insights and Advocacy: Our ERISA team remains a go-to resource for clients striving to stay current on evolving regulations, products, operating standards, and industry trends. Ascensus continues to be at the industry forefront, working on behalf of partners, advisors, and their clients from a legislative and regulatory perspective to provide counsel and advocate for needed relief and assistance.

"In this rapidly evolving regulatory and business environment, we want to be sure that we're providing partners, advisors, and their clients with all of the information and support that they need," added Musto. "We're listening and leveraging the full resources of the company in response, with a focus on our deep ERISA expertise and data science capabilities."  

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