Ascensus Adds Roth Option to SIMPLE IRA Plans
Ascensus LLC announced that the firm now supports Roth contributions for all new SIMPLE IRA plans, becoming one of the first providers to bring this capability to market. The change, enabled by the SECURE 2.0 Act of 2022, lets employees choose between traditional pre-tax and Roth after-tax salary deferrals, while employer matching and nonelective contributions remain pre-tax.
The enhancement is effective immediately for new plans established through Ascensus, giving small-business employees more flexibility to align savings with their tax goals. Existing SIMPLE IRA plans will be able to add the Roth option starting fall 2026, with an effective date of January 1, 2027.
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MissionSquare Launches Debit Card for Retirement Health Savings Accounts
MissionSquare unveiled a new debit card feature for its Retirement Health Savings program, giving participants a faster way to pay for prescriptions and eligible over-the-counter expenses. The card eliminates the need to pay out of pocket and wait for reimbursement, and it simplifies the claims process by reducing paperwork in most cases, according to the announcement.
The move builds on MissionSquare’s recent expansion of RHS investment options, including a self-directed brokerage account added earlier this year. The debit card is part of the firm’s broader push toward more personalized, technology-enabled tools to help participants manage rising healthcare costs in retirement.
SEI Expands Transfer Agency to Cover Semi-Liquid Alternative Funds
SEI Investments Co. is broadening its transfer agency business with a new SEC-registered entity, SEI Transfer Agency and Registry Services Inc., built on technology from Envision Financial Systems.
The expansion extends SEI’s 18-year institutional transfer agency track record—which already services more than 1,100 funds representing $395 billion in assets—into semi-liquid alternative vehicles such as closed-end interval funds, tender-offer funds and business development companies.
The move responds to surging demand for retail access to private markets; semi-liquid funds surpassed $530 billion in total net assets by the end of 2025.
According to SEI executives, the expanded platform will help asset managers launch and scale products, while reducing administrative burden by enabling them to use a single transfer agent.
Principal Adds New Options to Retirement Income Suite
Principal Financial Group announced the expansion of its retirement income offerings with new QDIA-eligible target-date-fund solutions designed to help workers convert savings into steady lifetime income. The lineup includes the proprietary Principal LifeTime Income Builder Index CIT series, which begins allocating participants to fixed indexed annuities at about age 47 and targets 6% income distribution starting at about age 65.
Principal is also adding third-party income options through partnerships with TIAA/Nuveen (LifeCycle Income Index) and Income America 5forLife. The expansion reflects growing plan sponsor demand for simplified ways to help participants transition from accumulation to income without added complexity, according to the announcement.
PGIM Launches Quarterly Buffer ETFs
PGIM has introduced four new S&P 500 buffer ETFs—PQV, PQX, PQXV and PQXX—offering 5%, 10%, 15% and 20% downside protection, respectively, over roughly three-month outcome periods, a shift from the one-year cycles used in its existing buffer series. The funds, listed on Cboe BZX, carry a 0.50% net expense ratio, positioning them among the lowest-cost buffer ETFs available, the firm stated in its announcement.
The launch expands PGIM’s buffer ETF suite to nearly 50 products spanning multiple indices, buffer levels and outcome periods. According to PGIM, the shorter reset cycle gives investors more frequent opportunities to adjust to market conditions as the firm continues building out its defined outcome lineup.
