Expanded tax-advantaged savings participant base of more than 15 million people across the U.S. Increase of Ascensus-administered assets under administration to more than $700 billion when combined with Newports business, Diversified client base, including more than 150,000 retirement plans, Management of an industry-leading $184 billion in government savings accounts (including 529 plans, ABLE savings accounts, and state-facilitated retirement programs), more than 700,000 health and flexible savings and COBRA accounts, nearly 300,000 COLI/BOLI policies, and more than 140,000 non-qualified retirement plan participant accounts, Broader set of products and solutions delivering enhanced value to new and existing clients, Increased investment in technology and digital solutions designed to enhance partner efficiency and drive saver outcomes, Experienced leadership teams with outstanding track records across both organizations, Continued commitment to service excellence andclient satisfaction offers opportunity to build on world-class NPS scores toset a new performance standard in markets served, Increased size and reach of sales and distribution channel relationships supporting partner growth, Depth and breadth of our combined expertise, including retirement, compliance, actuarial, non-qualified, insurance, and fiduciary services, represents a significant value-add for our clients, Newand expanded career pathopportunities for Ascensus and Newport associates resulting from the combination of two great companies focused on long-term growth, Increased ability to attract, retain, and develop top talent, Continued commitment to a diverse and inclusive work environment where every associate feels welcome, valued, and safe, and enjoys a sense of belonging, A common heritage of integrity and independence, coupled with the resourcefulness and speed of a market innovator. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newports chief operating officer (COO) since 2014has been named interim CEO. web design and development by new target, inc. Participant Login FAQ The transaction is expected to close in the first quarter of 2022, subject to receipt of regulatory approvals, including review and non-objection by the South Dakota Division of Banking and review and approval by the New Hampshire Banking Department, and satisfaction of other customary closing conditions. Greg Tschider has stepped down as CEO of Newport. Evercore acted as exclusive financial advisor to Newport in connection with the transaction. As a combined company, well be able to even further advance our mission of helping individuals save for what matters., Musto added, I want to commend Greg Tschider and his team for their leadership and success in building a strong, highly respected, and winning company in our industry., This is a tremendous opportunity for our two companies and our people, said Ramanis. Please update your bookmarks accordingly. According to a press release, the newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. Exclusive Hauser Clip, Retiree Health Care Cost Estimates Still Induce Sticker Shock, 401(k)s Increasingly Under Attack in Wake of SECURE 2.0 Passage, Record Increases Forecast for 2023 Contribution and Benefit Limits, Record Increases Projected for 2023 Retirement Plan Limits, Limits on Wealthy Retirement Accounts Not in Inflation Reduction Act, A Fresh Look at Those the WEP Affects, Proposals to Change it, Retirement Savers Withstand 2022 Rollercoaster as Balances Rebound, Good News in PBGC Pension Insurance Data Tables. We may amend this policy from time to time; if we do, we will post those changes on this page within a reasonable time after the change so that you are aware of what information we collect and how we intend to use it. Newport Group's CEO, Greg Tschider, has a CEO approval rating of 80/100, as scored by 8 Newport Group employees, placing Greg Tschider in the Top 10% of similarly-sized companies for CEO score. Please update your bookmarks accordingly. Above it says due to getting pension that SS was not collected on will have to adjust. This includes 529 plans, ABLE [Achieving a Better Life Experience] savings accounts and state-facilitated retirement programs. Under Greg's leadership, Newport has grown to a national full-service retirement provider servicing more than $265 billion of corporate retirement and insurance assets and 1.4 million plan participants. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Expanded tax-advantaged savings participant base of more than 15 million people across the U.S. Increase of Ascensus-administered assets under administration to more than $700 billion when combined with Newports business*, Diversified client base, including more than 150,000 retirement plans, Management of an industry-leading $184 billion in government savings accounts (including 529 plans, ABLE savings accounts, and state-facilitated retirement programs), more than 700,000 health and flexible savings and COBRA accounts, nearly 300,000 COLI/BOLI policies, and more than 140,000 non-qualified retirement plan participant accounts*, Broader set of products and solutions delivering enhanced value to new and existing clients, Increased investment in technology and digital solutions designed to enhance partner efficiency and drive saver outcomes, Experienced leadership teams with outstanding track records across both organizations, Continued commitment to service excellence and client satisfaction offers opportunity to build on world-class NPS scores to set a new performance standard in markets served, Increased size and reach of sales and distribution channel relationships supporting partner growth, Depth and breadth of our combined expertise, including retirement, compliance, actuarial, non-qualified, insurance, and fiduciary services, represents a significant value-add for our clients, New and expanded career path opportunities for Ascensus and Newport associates resulting from the combination of two great companies focused on long-term growth, Increased ability to attract, retain, and develop top talent, Continued commitment to a diverse and inclusive work environment where every associate feels welcome, valued, and safe, and enjoys a sense of belonging, A common heritage of integrity and independence, coupled with the resourcefulness and speed of a market innovator. CEO of Newport Group San Francisco Bay Area. Investing Companies. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Participant Login FAQ Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. Musk Made a Mess at Twitter. But employers that lose contact with participants who maintain a balance in the companys retirement plan risk breaching their fiduciary duties and jeopardizing the tax-qualified status of their plan. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, China Gives New Backing to Coal Even as Clean Energy Accelerates, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Newport Group acquires the retirement recordkeeping, administrative, and actuarial services business of People's United Bank. call the Participant Service Center at844-749-9981. The materials contained herein are intended for instruction only and are not a substitute for professional advice. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Enroll in Your Plan, For account questions or help logging in, Were redirecting you to the most relevant section of NewportGroup.com. The Newport Group expands service offerings to non-qualified plans, BOLI/ COLI, and fiduciary consulting. Pensions are not only paid for by private employers. Were redirecting you to the most relevant section of NewportGroup.com. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. 644 followers 500 . About AscensusAscensus helps millions of people save for what mattersretirement, education, and healthcare. For more information about Newport Group Consulting and its services, Newport Group Securities, Inc. or Newport Securities Insurance Services and services offered, please refer to our Form ADV Part 2, which is available by contacting us at 407-333-2905, visit our website at www.newportgroup.com, or advisorinfo.sec.gov. Founded. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. The firms hope to be operating as one team by next spring.. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. In that time, employees at the company's offices nationwide have helped more than 3,600 children get new shoes, jackets and socks! Our union confirms the hard work of our dedicated employees and partners. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Successful organizations have evaluated the competitiveness of their compensation programs, retirement plans, and employee benefits portfolio to effectively compete for and retain the talent that drives success. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. . As a combined company, well be able to even further advance our mission of helping individuals save for what matters., Musto added, I want to commend Greg Tschider and his team for their leadership and success in building a strong, highly respected, and winning company in our industry., This is a tremendous opportunity for our two companies and our people, said Ramanis. Newport Group was founded in 1985 and its current CEO is Greg Tschider. Pensions are not only paid for by private employers. Our union confirms the hard work of our dedicated employees and partners. "This transaction is a strategic fit for our company . With so much news and real time information readily at hand, it can be difficult for anyone to process what is relevant and critical for making prudent financial decisions. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Acquired Clark Consulting's operations, making us a leading provider of bank-owned life insurance (BOLI). NEWPORT GROUP, INC. is a Texas Foreign For-Profit Corporation filed on December 14, 2015. Ratings from the Employees at Newport Group's Headquarters WALNUT CREEK, CA, June 8, 2018 -- Newport Group, a leading provider of retirement plans, insurance, and consulting services, announced today that the company has reached an agreement with the private equity firm Kelso & Company (Kelso).

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