Defined Contribution
A plan made for you
As the nation's largest independent retirement services provider, Ascensus offers the freedom to design a retirement program that will work for your unique business. A defined contribution plan gives employees an opportunity to save for a more secure future, making it one of the most rewarding benefits an employer can offer. We aim to make retirement plan administration as simple as possible, so you can focus on growing your business.
Defined contribution options
These employer-sponsored retirement plans enable employees to contribute a percentage of their pay, tax-deferred, into an individual savings account. The amount of the benefit is based primarily on the amount contributed by the employee.
401(k)
One of the most well-known and popular employer-sponsored retirement plans is the 401(k), which enables employees to contribute pre-tax income through salary deferrals, and to which employers may make matching contributions. Ascensus offers a variety of 401(k) plans for businesses of all sizes.
ERISA 403(b)
A 403(b) plan enables employees of nonprofit, education, and healthcare organizations to save for retirement by contributing pre-tax dollars from their paycheck, and is subject to ERISA requirements. This type of retirement plan is typically the primary plan offered by the employer.
Non-ERISA 403(b)
Similar to the ERISA 403(b), a non-ERISA 403(b) enables employees of nonprofit, education, and healthcare organizations to save for retirement by contributing pre-tax dollars from their paycheck, and is exempt from ERISA regulations. A non-ERISA 403(b) plan is typically supplemental to another type of retirement savings offering.
Governmental 457(b)
A governmental 457(b) plan is an employer-sponsored, tax-advantaged retirement plan available to state and local government employees. With its high contribution limits, it can be used in conjunction with other tax-advantaged accounts to increase retirement savings.
Prevailing Wage
A prevailing wage retirement plan addresses the requirements of the Davis-Bacon Act by using the fringe benefit component of prevailing wage to fund a qualified retirement plan.
