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Saturday, June 25, 2016

College Savings program comes with 35 new jobs

New Warwick Office of Rhode Island's 529 College Savings Program will hire 35

General Treasurer Seth Magaziner joined with Governor Gina M. Raimondo and Warwick Mayor Scott Avedisian to celebrate the opening of Ascensus College Savings' new Warwick office. 

The opening of the Warwick office brings 35 jobs to Rhode Island and will be used to administer Rhode Island's college saving program.

"This new office is an example of how the Treasurer's Office can work with our partners to create jobs for Rhode Islanders," Treasurer Magaziner said. 

"All children deserve a good education, and our state's economic comeback will only be as strong as the skills of our workforce. Our partnership with Ascensus will ensure that more Rhode Islanders can realize the dream of receiving a college education."

Treasurer Magaziner named Ascensus College Savings as the new program administrator for Rhode Island's 529 college savings program last November.

"As the former Treasurer, and the mom of two kids in Rhode Island's 529 program, I am pleased that Ascensus, the largest independent retirement and college savings provider in the country, will add Rhode Island's 18,500 accounts to its portfolio," said Governor Gina M. Raimondo. 

"Also, I am thrilled that the opening of this Warwick office brings 35 jobs to Rhode Island. We came together as an administration to help this company, as we do with others, because we are dedicated to making it easier to do business in Rhode Island."

Ascensus has been working with the General Treasurer's office to transition Rhode Island's college saving program to Ascensus. Ascensus will officially begin administering the program on July 12, 2016.

"As a lifelong Rhode Islander, I could not be more personally and professionally thrilled to be bringing Ascensus College Savings' passion and expertise to Rhode Island to help make saving for college easier and more accessible. I'm also excited to bring jobs into the local economy - 35 full time employees now, with the potential for more," said Jeff Howkins, president and CEO of Ascensus College Savings.  

"In the recruitment process we were impressed by both the number of applicants and the quality of their talent. Our whole team looks forward to delivering on our promise to Treasurer Magaziner to increase participation in the Rhode Island's 529 plan through new investment options, lower costs, expanded service offerings and a reinvigorated marketing and sales effort."