Synergy transitioned its approximately $50 million in plan assets under administration and 100 adopting employers to Ascensus’ SingleSource Plus retirement plan model, according to the firm. SingleSource Plus is a full-service, open architecture 401(k) retirement program with a lineup of investment options and resources it said can streamline plan management.
The Synergy Multiple Employer Retirement Savings Plan uses portfolio investment models that are designed to encompass a variety of risk levels and investment goals. The plan also uses Ascensus’ plan sponsor support tools and employee education program—including marketing materials, meeting support, targeted communications, and plan sponsor and participant Web sites.
Ascenus provides plan administration, recordkeeping, ERISA consulting, compliance and sales support, trust and custody services, multilingual participant education programs, training, and documentation, as well as open architecture investment capabilities.