Tag Archive for Ascensus

National Financial Literacy Month is an Opportunity for Credit Unions

Originally posted on CUInsight.

By Randy Salser, President, NAFCU Services

With the financial pitfalls of the Great Recession behind us, and security breaches becoming a common threat, members are more mindful of their personal finances than ever before.  Because credit unions are a reliable and trusted source, they have the unique opportunity to educate their members about financial literacy. For expertise on where credit unions should focus this National Financial Literacy Month, we turn to our Preferred Partners: Read more

Retirement Savings Incentives Listed Among Possible Tax Reform Options

Originally posted on CUInsight.com.

Guest post written by Dennis Zuehlke, Compliance Manager, Ascensus.

Ascensus is the NAFCU Services Preferred Partner for IRA, Retirement Plan, and Health Savings Account (HSA) Solutions Software, Training, Documents and Consulting.

The Senate Finance Committee has released its Economic Security tax reform option paper  containing a laundry list of retirement savings incentives among the possible tax reform options. The non-exhaustive list is just the latest indication that retirement savings incentives will be scrutinized as part of efforts to reform the tax code, in part because their cost to the Treasury is second only to the cost of the exclusion of employer contributions for healthcare.

Earlier this year, Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Orin Hatch (R-UT) laid out a series of discussion topics to set the stage for comprehensive tax reform. Over the past several months, the Finance Committee has been meeting weekly to discuss the tax reform option papers drafted by the majority and minority committee staffs to determine which options they may want to consider as part of comprehensive tax reform.

The option papers have covered a wide array of issues from across the tax code, including simplifying the tax system for families and businesses; business investment and innovation; infrastructure, energy, and natural resources; international competitiveness; and economic and community development. The Economic Security paper is the seventh in a series of papers and focuses on health, retirement, life insurance, fringe benefits, and executive compensation.

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