WASHINGTON, April 19, 2017 /PRNewswire/ -- Ascensus College Savings is pleased to announce the launch of the improved DC College Savings Plan. The District of Columbia selected Ascensus College Savings, the nation's largest administrator of 529 college savings programs, to serve as the plan's new program and investment manager.
As the #1 529 program manager in assets under administration, Ascensus College Savings currently services 4 million 529 college savings accounts and was uniquely positioned to help the District of Columbia enhance its college savings program. With the addition of the DC plan, the firm now administers a total of thirty-four 529 plans across eighteen states and the District.
Ascensus College Savings provides all program management for the plan, including customer service and online functionality for account management. Service excellence is one of the firm's key strengths; it recently earned the National Quality Review's (NQR) five-star rating for service quality and the NQR Best Overall Accuracy designation for the third quarter of 2016.
Ascensus College Savings has launched a redesigned 529 account website for DC plan participants, making it simpler for them to track their savings progress at their convenience. The firm worked closely with the Office of Finance and Treasury, Lowe & Associates LLC, and Capital Cities LLC to craft a new investment lineup featuring a diverse selection of low-cost funds to help investors meet their specific savings objectives. Ascensus College Savings is also responsible for marketing and distribution for the plan and will hire a local field representative to engage DC community groups and employers at a grassroots level.
"We're pleased to partner with a 529 industry leader in our continued efforts to ensure the DC College Savings Plan helps our residents save for college," states Jeffrey Barnette, District Deputy Chief Financial Officer and Treasurer. "Through our collaboration and partnership with Ascensus College Savings, we aim to help more District families cover rising education costs to give their children a brighter future."
"We're honored to have been selected as the District of Columbia's 529 program manager and look forward to partnering with the District to offer families the support they need to achieve their college savings goals," states Jeff Howkins, president of Ascensus College Savings.
About the DC College Savings Plan
Since 2002, the DC College Savings Plan has enabled over 22,000 families to save more than $500 million for their children to go to college. DC College Savings Plan gives families a simple way to help save for rising college and vocational school costs.
Please consider before investing in any 529 Plan whether your or the beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.
For more information about The DC College Savings Plan ("the Plan"), call 800-987-4859, or visit www.dccollegesavings.com to obtain a Program Disclosure Booklet, which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing.
The Plan is administered by the District of Columbia Office of the Chief Financial Officer, Office of Finance and Treasury. Ascensus College Savings Recordkeeping Services, LLC ("ACSR"), the Program Manager, and its affiliates, have overall responsibility for the day-to-day operations including recordkeeping and administrative services. Ascensus Investment Advisors, LLC serves as the Investment Manager.
The Plan's Portfolios invest in: (i) exchange-traded funds, (ii) mutual funds and (iii) a funding agreement. Investments in The Plan are municipal securities that will vary with market conditions. Investments are not guaranteed or insured by the Government of the District of Columbia, the District of Columbia College Savings Program Trust, the District of Columbia Chief Financial Officer, the District of Columbia Treasurer, the Trustee for the District of Columbia College Savings Program Trust or any co-fiduciary or instrumentality thereof, the Federal Deposit Insurance Corporation or any instrumentality thereof.
Ascensus is the largest independent retirement and college savings services provider in the United States, helping over 7 million Americans save for the future. With more than 35 years of experience, the firm partners with financial institutions to offer tailored solutions that meet the needs of financial professionals, employers, and individuals. Ascensus specializes in recordkeeping, administrative, and program management services, supporting over 47,000 retirement plans, 4 million 529 college savings accounts, and a growing number of ABLE savings accounts. It also administers more than 1.5 million IRAs and health savings accounts and is home to one of the largest ERISA consulting teams in the country. For more information about Ascensus, visit www.ascensus.com.