The Coronavirus Aid, Relief, and Economic Security (CARES) Act signed on March 27, 2020, includes several provisions intended to loosen restrictions on and reduce the tax consequences of distributions and loans from retirement plans. Expand thetax-advantaged savings participant base of more than 15 million people across the country, Increase Ascensus-administered assets under administration to more than $700 billion when combined with Newports business, Provide management to $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, Why the New ESG Rule And Why Now? Participant Login FAQ Please update your bookmarks accordingly. With the merger, Ascensus-administered assets under administration (AUA) will increase to more than $700 billion, including $184 billion in government savings accounts. NEWPORT GROUP, INC. is a Texas Foreign For-Profit Corporation filed on December 14, 2015. Newport welcomed several expert panelists, who provided insight on retirement plan liability and fiduciary issues associated with actions taken during this current environment. Alexa Gellinger. To ensure continuity of leadership, operations, and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer since 2014has been named interim CEO. Please update your bookmarks accordingly. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. 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. Securities in California are offered through Newport Securities Insurance Services. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. She will be supported by Kurt Laning, executive vice president, Non-Qualified and Insurance Solutions, along with Newports senior management team. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. As a provider and partner, Newport is independent, experienced and responsive. Banks, Credit Unions, & Financial Institutions, Combination represents acompelling strategic fit and creates a leader in tax-advantaged savings that is well-positioned to lead amid industry transformation. Greg Tschider has stepped down as CEO of Newport. Director, Executive Finance, Legal, Operations. 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. DRESHER, Pa., Nov. 3, 2023 /PRNewswire/ Ascensus, whose technology and expertise help millions of people save for retirement, education, and healthcare, announced that it has entered into a definitive agreement under which Newport Group (Newport), the Walnut Creek, California-based retirement services provider, will merge with Ascensus.The newly combined organization will offer a broader . Specifically that with their qualified and non-qualified retirement plan services, fiduciary consulting services, and corporate and bank-owned life insurance practices, Newport will expand the solutions and expertise Ascensus provides to its clients and advisor partners, while Newports clients will gain greater access to unique tax-advantaged savings solutions across retirement, education and health. She will be supported by Kurt Laning, executive vice president, nonqualified and insurance solutions, along with Newports senior management team. Est. To ensure continuity of leadership, operations, and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer since 2014has been named interim CEO. Securities in California are offered through Newport Securities Insurance Services. Were here to provide trusted guidance during this period of uncertainty. 1601 River Drive, Suite 200 Moline, IL, 61265 Get Directions Newport Moline, IL Reviews 5.0 Current Employee, less than 1 year "Great atmosphere and People!" Mar 14, 2017 - Compliance Secialit in Moline, IL Recommends About AscensusAscensus helps millions of people save for what mattersretirement, education, and healthcare. https . CEO. Investment returns are not guaranteed, and you could lose money by investing in a 529 plan. Similarly, Newports clients will benefit from greater access to unique tax-advantaged savings solutions across retirement, education and health provided by Ascensus. In addition, the companies respective investments in technology, digital capabilities, and analytics will deliver enhanced value to clients, expand client relationships, and create better outcomes for savers. Above it says due to getting pension that SS was not collected on will have to adjust. Youll learn how you can enhance your hiring and retention strategies. Printer Friendly View Address: 35 Iron Point Cir Ste 300 Folsom, CA, 95630-8589 United States . About NewportHeadquartered in Walnut Creek, California, Newport is a leading retirement services provider that helps employersand the advisors who serve themprepare employees for a more financially secure retirement. The company's filing status is listed as Active and its File Number is 3307407. Company - Private. The capital behind Verisight is Stone Point, a hedge fund in Greenwich, Conn. that bought out the Chicago family office a couple of years ago. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. On average, Martha works for one company for 9 years 9 months. Depending on your interaction with Ascensus, other privacy policies may apply in addition to this Policy. According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. When you invest in a 529 plan, you are purchasing municipal securities whose value may vary based on market conditions. 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. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. DailyAccess expands service offerings to health and welfare and investment advisory services. On average, Wendy Cantey works for one company for 2 years 5 months. Scott Pollack is Executive Vice President at Newport. Please update your bookmarks accordingly. DRESHER, Pa., Nov. 3, 2021 /PRNewswire/ -- Ascensus, whose technology and expertise help millions of people save for retirement, education, and healthcare, announced that it has entered into a . 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. Most providers of our size are attached to a larger financial institution. Specifically that with their qualified and non-qualified retirement plan services, fiduciary consulting services, and corporate and bank-owned life insurance practices, Newport will expand the solutions and expertise Ascensus provides to its clients and advisor partners, while Newports clients will gain greater access to unique tax-advantaged savings solutions across retirement, education and health. ET. CEO of Newport Group San Francisco Bay Area. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company, while Greg Tschider has stepped down as CEO of Newport. The Registered Agent on file for this company is CT Corporation and is located at 124 W Capitol Ave Ste 1400 124 W Capitol Ave Ste 1400, Little Rock, AR 72201. Newport Group CEO Greg Tschider said in a statement, "Our independence, coupled with our experience and responsiveness, is what our brand stands for. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company, while Greg Tschider has stepped down as CEO of Newport. The transaction is expected to close in the first quarter of 2022, subject to the receipt of regulatory approvals, including review and non-objection by the South Dakota Division of Banking; review and approval by the New Hampshire Banking Department; and satisfaction of other customary closing conditions. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. 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. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. Were redirecting you to the most relevant section of NewportGroup.com. The current wave of recordkeeper consolidation continues, with the Nov. 3 announcement that Ascensus has entered into a definitive agreement under which Newport Group will merge with the firm. During his tenure, AST grew into one of the leading independent trust companies in the country. The company's filing status is listed as Withdrawn and its File Number is 800135460. Newport's experts provideda comprehensive review of this unprecedented legislation and how it impacts the day-to-day operations of retirement plans. Ascensus and the Ascensus logo are trademarks of Ascensus, LLC. Ascensus is a leading recordkeeping services provider, third-party administrator, and government savings facilitator inthe United States. Contacts. Revenue. (November 3, 2020) - Newport Group, Inc. (Newport) announced today that it has completed the purchase of Plan Administrators, Inc. (PAi), a third party administrator and recordkeeper headquartered in De Pere, Wisconsin. "Evercore's institutional trust and independent fiduciary business has earned the confidence and dedication of its clients through its reputation as a best-in-class service provider and is well-positioned for future growth," said Newport Group Chief Executive Officer Greg Tschider. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing. 702 King Farm Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455 /. 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? Ugift is a registered service mark. The current wave of recordkeeper consolidation continues, with the Nov. 3 announcement that Ascensus has entered into a definitive agreement under which Newport Group will merge with the firm. Jacqueline Ward. GREG TSCHIDER, president; GREG TSCHIDER, chief executive officer; KURT LANTING, vice president; LAURA RAMANIS, chief operating officer; As a provider and partner, Newport is independent, experienced and responsive. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. "PNC Bank is one of the largest and most-respected brands in the banking industry," said Newport Group Chief Executive Officer Greg Tschider. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Securities in California are offered through Newport Securities Insurance Services. Copyright 2023 Asset International, Inc. All Rights Reserved. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. Learn how to leverage transparent company data at scale. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Alerus adds senior retirement specialist; HSA Bank acquires HSA solutions provider; Innocap to acquire BNY Mellons HedgeMark business; and more. Walnut Creek, CAMay 6, 2019 Newport Group, a leading independent retirement services provider, announced today that it has completed its acquisition of the Vested Interest defined contribution plan recordkeeping business of PNC Bank. This site is designed for U.S. residents only. She will be supported by Kurt Laning, executive vice president, Non-Qualified and Insurance Solutions, along with Newports senior management team. "This transaction is a strategic fit for our company . Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. Most people dont plan to stay in touch with their former employer after they change jobs or retire. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newports chief operating officer since 2014has been named interim CEO. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Our online Knowledge Center is continually updated with the latest news and information relevant to our clients and retirement plan participants. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer (COO) since 2014has been named interim CEO. "People Matter. "PNC Bank is one of the largest and most-respected brands in the banking industry," says Greg Tschider, CEO of Newport Group. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. The company has more than $150 billion in retirement assets under administration and more than $300 billion in corporate retirement and insurance assets. Type. All Rights Reserved 2023 Ascensus, LLC. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. Newport Group acquires the retirement recordkeeping, administrative, and actuarial services business of People's United Bank. Joining with Ascensus provides additional resources to continue the expansion of services, and I am excited to see the new ways that our combined associate teams will work together for our clients.. Our union confirms the hard work of our dedicated employees and partners. It takes less than ten minutes to set up your company page. Privacy PolicyTerms of UseCopyright. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. Our union confirms the hard work of our dedicated employees and partners. . Newport Group Chief Executive Officer Education Greg Tschider studied at University of Wisconsin-Madison. Greg Tschider. Annual Revenue $25-100M Agree? Plan Sponsor Liability and Fiduciary Responsibilities in Light of COVID-19
We expect the service platform investment, product expansion and enhanced capabilities our union will deliver to be well-received by our collective clients. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. With Newports business, Ascensus will see an expanded tax-advantaged savings participant base, including more than 140,000 nonqualified retirement plan participant accounts. The current wave of recordkeeper consolidation continues, with the Nov. 3 announcement that Ascensus has entered into a definitive agreement under which Newport Group will merge with the firm. Non-Qualified Plans and the Coronavirus
. Greg Tschider Chief Executive Officer, Newport Informative Webinars Managing Challenges for Non-Qualified Plans Related to Coronavirus This webinar provided insight on the unique economic impact that the coronavirus pandemic has had on non-qualified executive benefit plans. 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. You can read Newports comprehensive analysis of this important legislation here. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Reveal contact info Contact details Work email g*****@newpor***.com Valid Reveal Latest update September 27, 2021 Location San Francisco Bay Area Greg's current employer Export Newport Group Website newportgroup.com Industry