Ascensus SVP Barb Van Zomeren thinks state-administered plans could actually be a catalyst for wider adoption of private sector plans. (Photo: Shutterstock)
The recordkeeper that is winning the business of state-sponsored IRA retirement plans says early indicators are showing better-than-expected enrollment.
Ascensus, which administers more than 54,000 employer-sponsored retirement plans, is the service provider to programs in Oregon, California, and Illinois.
In Oregon, which was the first state to roll out an automatic enrollment IRA program in 2017, participation rates are exceeding expectations, says Barb Van Zomeren, senior vice president at Ascensus.
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Nick Thornton
Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.
