FuturePlan Expands Retirement Plan Options with New Employer Aggregated Plan
New Product Diminishes Employer Burdens, Adds Fiduciary Protection
DRESHER, Pa., March 30, 2023 /PRNewswire/ -- FuturePlan by Ascensus, a leading national retirement TPA dedicated to helping advisors, recordkeepers, and plan sponsors deliver better outcomes for savers, and Voya Financial are expanding their relationship with the introduction of an innovative new Employer Aggregated Plan, called FuturePlan EAP.
This solution offers employers the ability to ease administrative burdens and limit fiduciary risk while providing retirement plan access to more savers. Voya—one of the nation's leading health, wealth, and investment companies—will serve as recordkeeper, FuturePlan will be the TPA and 3(16) service provider, and LeafHouse will provide 3(38) services.
With a focus on client convenience, FuturePlan EAP will streamline plan provisions for ease of onboarding and administration, backed by dedicated service and onboarding teams leveraging FuturePlan's long-term experience as a preferred TPA partner. Additionlly, plans with less than 10 participants will benefit from fewer decision points and key design defaults to get their plan up and running quickly, smoothly, and with minimal hassle.
Participants will also be able to take advantage of Voya's MyCompass Index—an innovative target date fund solution designed to address the unique retirement needs of all individual plan participants.
"We're excited to expand upon our successful relationship with Voya to deliver this affordable retirement plan option to an even broader group of plan sponsors and participants," said Kasey Price, president of FuturePlan. "Everyone should have the opportunity to participate in a high-quality, well-managed retirement plan that offers the flexibility, protection, and value that savers want and deserve."
"We are thrilled to be collaborating with the FuturePlan team on this new aggregation program," added Ralph DelSesto, Head of TPA & B/D Distribution and Support Strategy for Voya Financial. "As a leading provider across several markets, Voya has the breadth, scale, and resources to meet the needs of employers of all sizes. We look forward to working together with FuturePlan to bring to market a retirement program with expanded benefits and features that can ultimately help provide positive outcomes for all."
FuturePlan is a leading national retirement TPA dedicated to helping advisors, recordkeepers, and plan sponsors deliver better outcomes for savers. Our highly responsive, personalized service is backed by the strength and security of a national leader in Ascensus. As of December 31, 2022, FuturePlan's experienced team of experts supports more than 44,000 retirement plans with more than 1.8 million participants and more than $104 billion in assets under administration. For more information, visit futureplan.com.
FuturePlan's leadership team brings decades of expertise to serve clients and partners. Ascensus began building FuturePlan in 2010, uniting more than 30 exceptional retirement TPA firms from across the nation to transform the industry. The depth of experience, diverse strengths, and specialized expertise of our legacy TPA firms make FuturePlan an industry leader.
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SOURCE FuturePlan by Ascensus