We answer some of the most common questions non-qualified plan sponsors may be receiving in light of the novel coronavirus. Please update your bookmarks accordingly. 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. COPYRIGHT 2023BY ASPPA. "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. All Rights Reserved 2023 Ascensus, LLC. Non-Qualified Plans and the Coronavirus 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. 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 includes 529 plans, ABLE [Achieving a Better Life Experience] savings accounts and state-facilitated retirement programs. The recent ruling by the circuit judge on the burden of proof is deeply concerning and highlights Subject, of course, to the preservation of capital rule. 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. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), An Update on Our Unification with Ascensus, Newport Awarded Best in Class Honors in 2021 PLANSPONSOR Defined Contribution Survey, Newport Websites Ranked Again Among Best in Industry, Ascensus and Newport to Combine and Create a Leading Provider in Tax-Advantaged Savings, Insurance Company-Owned Life Insurance (ICOLI). Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. . 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. 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Moreover, the firms say that 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., Ascensus and Newport are both respected leaders in the marketplaceand well-known for service excellence, deep expertise, investment independence, and purpose-built technology, said Musto. Newport Group Chief Executive Officer Education Greg Tschider studied at University of Wisconsin-Madison. On average, Wendy Cantey works for one company for 2 years 5 months. Greg Tschider CEO Approval Rating 83/100 Weigh In 1985 Walnut Creek California San Francisco Bay Area Private Merged with Ascensus, LLC Professional Services Payroll & Benefit Support Services 8744 NAICS listing http://www.newportgroup.com Est. web design and development by new target, inc. Account owners assume all investment risks as well as responsibility for any federal and state tax consequences. BILLION IN RETIREMENT ASSETS UNDER ADMINISTRATION, BILLION IN CORPORATE RETIREMENT + INSURANCE ASSETS. 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. According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. Before investing in any 529 plan, please consider whether your or the beneficiarys home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that states 529 plan. Moreover, the firms say that 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., Ascensus and Newport are both respected leaders in the marketplaceand well-known for service excellence, deep expertise, investment independence, and purpose-built technology, said Musto. Depending on your interaction with Ascensus, other privacy policies may apply in addition to this Policy. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Martha has been working as a Assistant Vice President, Relationship Management for Newport Group for 1977 days. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), An Update on Our Unification with Ascensus, Newport Awarded Best in Class Honors in 2021 PLANSPONSOR Defined Contribution Survey, Newport Websites Ranked Again Among Best in Industry, Ascensus and Newport to Combine and Create a Leading Provider in Tax-Advantaged Savings, Insurance Company-Owned Life Insurance (ICOLI). According to LinkedIn Wendy Cantey started working on 1989, then the employee has changed 6 companies and 13 jobs. The Newport Group expands service offerings to non-qualified plans, BOLI/ COLI, and fiduciary consulting. Similarly, the firms say Newports clients will benefit from greater access to tax-advantaged savings solutions across retirement, education and health provided by Ascensus. As a combined company, well be able to even further advance our mission of helping individuals save for what matters., SPONSORED MESSAGE SCROLL FOR MORE CONTENT. No Reproduction Without Prior Authorizations. Greg Tschider, who led Newports successful growth strategy, 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. In this role, he leads the company's qualified retirement client service teams. Est. Please consult your financial, tax, or other advisors to learn more about how state-based benefits and limitations would apply to your specific circumstance. 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. CEO of Newport Group San Francisco Bay Area. According to LinkedIn Martha started working on 1998, then the employee has changed 3 companies and 3 jobs. 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. 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. It takes less than ten minutes to set up your company page. Ascensus will also have more than 700,000 health and flexible savings and COBRA [Consolidated Omnibus Budget Reconciliation Act] accounts, nearly 300,000 COLI/BOLI policies, and more than 140,000 nonqualified retirement plan participant accounts. This site is designed for U.S. residents only. This site is designed for U.S. residents only. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. 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., Noting the significant opportunities to capitalize on the strengths of both companies, Musto said, Ultimately, the talent and extensive experience of our organizations are the most valuable assets our companies bring to this combination. Retirement plan participants can call Newports Participant Service Center at 844-749-9981, Monday through Friday, 8 a.m. to 8 p.m. 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. Please update your bookmarks accordingly. Wendy Cantey has been working as a Senior Vice President of Strategic Initiatives and the Enterprise Project Management Office, Technol for Newport Group for 1034 . 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.. 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. Search Contacts. 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. As one company, well deliver so much more than the sum of our capabilitiesand set a new performance standard for service excellence and client satisfaction in the markets we serve. Revenue. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back page entertainment. Industry. 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. Most people dont plan to stay in touch with their former employer after they change jobs or retire. (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. By using our website, interacting with us on social media, or communicating with us via email or other electronic messages (Digital Presence), you consent to the collection, use, and storage of your personal and non personal information as described by our Terms & Conditions of Use, which includes our Privacy & Security Statement. Greg Tschider is Chief Executive Officer of Newport, a leading independent provider of retirement plans, insurance and consulting services. Please update your bookmarks accordingly. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. 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. Newport Group CEO Greg Tschider said in a statement, "Our independence, coupled with our experience and responsiveness, is what our brand stands for. Alexa Gellinger. Greg Tschider 1 Rating Newport Moline, IL isn't hiring right now. Newport Group has 1 current employee profile, Chief Executive Officer Greg Tschider. 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 . Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. 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. Get a D&B Hoovers Free Trial. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. Greg Tschider 70% approve of Greg Tschider 's performance Founded 1985 Company size 1001 to 5,000 Revenue $25M to $100M (USD) Industry Financial Transaction Processing Headquarters Walnut Creek, CA Link Newport Retirement Services website Opens in a new window Learn more Salaries Pensions are not only paid for by private employers. Ascensus and the Ascensus logo are trademarks of Ascensus, LLC. 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. Ascensus is a leading recordkeeping services provider, third-party administrator, and government savings facilitator inthe United States. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. 1985. Annual Revenue $25-100M Agree? Terms of the transaction were not disclosed. Acquisition of Evercore Trust Companys institutional trust and independent fiduciary business, now part of Newport Trust Company. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. "People Matter. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Committed financing for the transaction has been provided by Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. Since its inception 38 years ago, Newport Group has grown to 1200 employees. Enroll in Your Plan, For account questions or help logging in, call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Newport Group acquires the retirement recordkeeping, administrative, and actuarial services business of People's United Bank. About AscensusAscensus helps millions of people save for what mattersretirement, education, and healthcare. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. She will be supported by Kurt Laning, executive vice president, Non-Qualified and Insurance Solutions, along with Newports senior management team. GREG TSCHIDER, president; GREG TSCHIDER, chief executive officer; KURT LANTING, vice president; LAURA RAMANIS, chief operating officer; The recent ruling by the circuit judge on the burden of proof is deeply concerning and highlights Subject, of course, to the preservation of capital rule. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. 702 King Farm Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455 /. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. The CARES Act Effect on Retirement Plans: Free and open company data on Texas (US) company Newport Group, Inc. (company number 0802356195), 1350 TREAT BLVD, STE 300, Walnut Creek, CA, 94597. Chief Compliance Officer. call the Participant Service Center at844-749-9981, Managing Challenges for Non-Qualified Plans Related to Coronavirus Greg Tschider 98 Ratings Your trust is our top concern, so companies can't alter or remove reviews. CEO. Were redirecting you to the most relevant section of NewportGroup.com. Securities in California are offered through Newport Securities Insurance Services. Work Experience Chief Executive Officer Newport 2009-2021 President Wilmington Trust 2008-2008 President Institutional Services 2008-2008 President AST Trust 2003-2008 Education Doctor of Law The wonderful folks at Newport Group, a leading provider of retirement plans, insurance and consulting services, have been working with Shoes That Fit since 2012. Newport Group acquires Kidder Benefits Consultants, and its affiliate Kidder-Lane Actuarial Services. Size. Most people dont plan to stay in touch with their former employer after they change jobs or retire. 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. Participant Login FAQ The CARES Act Effect on Retirement Plans: Participant Login FAQ Not Quite, The ERISA Industry Committee Promotes Two, Announces Priorities. Upromise is a registered service mark. How the CARES Act Impacts Retirement Plans 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. The newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. 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 Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), An Update on Our Unification with Ascensus, Newport Awarded Best in Class Honors in 2021 PLANSPONSOR Defined Contribution Survey, Newport Websites Ranked Again Among Best in Industry, Ascensus and Newport to Combine and Create a Leading Provider in Tax-Advantaged Savings, Insurance Company-Owned Life Insurance (ICOLI), Combination represents a compelling strategic fit and creates a leader in tax-advantaged savings that is well-positioned to lead amid industry transformation. Kieran Brady. Greg Tschider has stepped down as CEO of Newport.