Ascensus, Inc., a leading service provider for college savings plans, has introduced its new partnership that will provide a 529 solution to sponsors of child development accounts (CDAs).

The partnership between Ascensus College Savings and VistaShare, LLC., an administration software company for CDAs, will incentivize families to save for college through 529 plans. Dave Smucker, president and co-founder of VistaShare, told the 401kWire they've worked in the children savings arena since its inception around 2010 and "knew that children savings programs were going to be a big deal." He added, Ascensus is a well respected and innovative company, making them the perfect partner.

How does this work you wonder? These programs incentivize families who open their own savings accounts. Additionally, whenever families save on their own, VistaShare's Outcome Tracker technology is notified which then automates incentives, further motivating participants to save.

Vista is currently in talks with a savings program to do the first test run and testing is currently scheduled for this fall, according to Smucker.

This partnership follows the rebranding move Ascensus made just over a year ago, intended to reflect the company's recent growth and acquisition. Peg Creonte, senior vice president at Ascensus College Savings, stated the company strives to invest in children's futures and will continue "to invest in technological advancements that improve the accessibility and affordability of 529 savings plans."  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE