Ascensus, an administrator and recordkeeper for small- and mid-sized retirement plans, has launched QuickStart, a new retirement plan for small businesses.
Designed for organizations with 15 employees or less, Quic(k)Start will offer an economical retirement plan solution with full service capabilities. Quic(k)Start combines plan administration, recordkeeping services and employee communications on an open architecture retirement platform with no proprietary fund requirements.
Product features such as (k)ruiseControl, an automatic enrollment and deferral increase program, can provide built-in safeguards to help plan sponsors meet their fiduciary obligations and employees achieve their retirement goals.
Participants are provided with the tools they need to manage their retirement account using built-in product features such as full transactional Internet and interactive voice response services, access to Morningstar Retirement Manager, automated account rebalancing and personalized rate-of-return tools.
Mike Narkoff, senior vice president of distribution support services for Ascensus, said: Small businesses face a number of challenges when it comes to attracting and retaining quality employees and providing competitive benefits. The Quic(k)Start retirement plan can be the difference that sets a company apart from the rest, and we are pleased to help employers offer a cost effective yet robust retirement solution to their employees.