Defined Contribution

Ascensus brings on OregonSaves executive director as business development VP

Lisa Massena was named vice president of business development within Ascensus' government savings division, the firm announced in a recent news release.

Ms. Massena "will partner with states and governments that are in the process of developing and implementing retirement programs to address the retirement savings gap of residents," the release said. "She will also be responsible for establishing industry partnerships and collaborating to build government-based programs to support retirement savings."

Previously, Ms. Massena was executive director of the Oregon Retirement Savings Plan, the state's new Roth IRA program for employees of private companies that do not offer retirement plans. OregonSaves completed a pilot phase in 2017 and began rolling out statewide in January with workers in the program contributing a total of $2 million. The program is administered by Ascensus.

An announcement on Ms. Massena's replacement has not been made, said James Sinks, the program's spokesman.

Ascensus, a defined contribution record keeper and administrator of 529 college plans, individual retirement accounts and health savings accounts, had more than $187 billion in assets under administration as of March 31.

An Ascensus spokeswoman could not immediately be reached for additional information.