Press Release

Ascensus Pooled Employer Plans (PEPs) Surpass $1 Billion in Assets Under Administration

Issued by Ascensus

Oct. 1, 2023

Innovative Savings Solution Offers Diverse Investment Opportunities

Dresher, PA—Ascensus, whose technology and expertise help millions save for a better future, announced the company has surpassed $1 billion in PEP assets under administration.

“We’re delighted to achieve this milestone in our PEP partnerships, confirming our focus on growing this important offering,” said Nick Good, president of Ascensus. “Our nearly 30 PEPs provide employers with unprecedented flexibility, diverse investment options, and support from top to bottom, delivered with the service excellence and combined expertise of Ascensus and its partners."

Ascensus' PEPs offer a wide variety of savings solutions to plan sponsors, employers, and savers. Newport, an Ascensus company, was one of the first to register as a Pooled Plan Provider in 2021, a key component of any PEP program.

Ascensus PEP partners include Alliant, Aprio, Argent, Creative Planning, UBS, and Wealth Enhancement Group.

Ascensus’ PEP programs embrace plan features that have proven successful at improving participant outcomes, but also recognize companies often need added flexibility and the ability to deliver options tailoring key plan design elements to the needs of each adopting employer, offering:

• Turnkey PEPs for a custom advisor solution
• Convenience of a national PEP, which any advisor can access
• Newport’s role as pooled plan provider (PPP), 402(a) named fiduciary, 3(16) administrative fiduciary, trustee and custodian, recordkeeper and administrator, and participant servicer
• Flexible plan design and 3(38) appointment
• The ability to integrate other employer plans into the participant experience, including non/qual, ESOP, and more

Over the last several years, Ascensus has reached a variety of important retirement plan milestones, including servicing more than 155,000 retirement plans, 555,000 state-facilitated retirement plan accounts, and 140,000 non-qualified retirement plan accounts.

Read more about our PEPs.

 About Ascensus

Ascensus is a market-leading enabler of tax-advantaged savings—providing technology, services, and expertise that helps millions of people save for a better future.

The company is a premier savings program service provider, third-party administrator, and government savings facilitator. Its platforms, industry knowledge, and data-based insights enhance the growth and success of its partners, their clients, and savers through co-branded, private-labeled, and governmental partnerships.

Ascensus offers comprehensive qualified and nonqualified retirement plan solutions, third-party retirement plan administration, 529 education and ABLE savings program administration, corporate- and bank-owned life insurance solutions, and fiduciary and total rewards services.

The company’s brands include Ascensus; Newport, an Ascensus company; and FuturePlan by Ascensus. Ascensus has more than $742 billion in assets under administration and employs more than 5,600 associates as of June 30, 2023.

For more information, visit ascensus.com and newportgroup.com.

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