Goldman Sachs Asset Management, Ascensus launch retirement plan solution

Goldman Sachs Asset Management LP and Ascensus LLC collaborated and launched a retirement plan solution designed to support the needs of small and midsized businesses.

Goldman Sachs Workplace Retirement Solution provides an integrated 401(k) or ERISA 403(b) retirement program, according to a Nov. 2 news release.

The solution gives businesses and retirement plan advisers access to Goldman Sachs Managed Advice, which is a digital advisory service focused on improving retirement readiness, a digital financial wellness solution and an open-architecture recordkeeping platform. The service also provides streamlined plan administration for sponsors that utilize Ascensus' tech-enabled platform as well as transparent and competitive recordkeeping pricing with flexible service models, the news release said.