Growing into the Small Business Retirement Plan Space

9th May 2024

Ascensus acquires Vanguard Individual 401(k), Multi-SEP and SIMPLE-IRA business

In April, Ascensus expanded further into the small business retirement plan area through the acquisition of the Vanguard SIMPLE, Multiple SEP (Multi-SEP), and Individual 401(k) retirement plan segment. The company is taking over recordkeeping and client servicing for the Vanguard’s individual retirement plan group, increasing its overall retirement plans administered to around 280,000 plans. 

The move adds to their offerings for small businesses. Already the largest administrator of retirement plans in the US, the addition of 119,000 individual/small business 401(k)s and SIMPLEs, creates the opportunity for plan owners to re-examine their current 401(k) plans and see where they could be saving more. With a Defined Benefit plan like the kind offered by Dedicated Defined Benefit Services, a part of Futureplan by Ascensus, high-income self-employed clients can keep their 401(k) and potentially increase their retirement savings and access higher tax deductions.

In an example of the smoothness of the transition from Vanguard, one plan owner contacted a Plan Design Consultant at Dedicated DB and found that they were eligible and able to increase their tax savings significantly by adding a Defined Benefit plan to their individual 401(k).

If you are a doctor looking to increase your tax savings and have recently transitioned from Vanguard to Ascensus, you can easily find how much you can save. Call the plan design consultant group at Dedicated DB at 866-269-2709 today.

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