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Please update your bookmarks accordingly. Terms of the deal were not disclosed.PNC Bank is one of the largest and most-respected brands in the banking industry, says Greg Tschider, CEO of Newport Group. January 9, 2019 Uncategorized. 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. She will be supported by Kurt Laning, executive vice president, nonqualified and insurance solutions, along with Newports senior management team. Learn how to leverage transparent company data at scale. 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. "PNC Bank is one of the largest and most-respected brands in the banking industry," says Greg Tschider, CEO of Newport Group. Get a D&B Hoovers Free Trial. With the merger, Ascensus-administered assets under administration (AUA) will increase to more than $700 billion, including $184 billion in government savings accounts. Were redirecting you to the most relevant section of NewportGroup.com. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Scott Pollack. Type. Greg holds a Juris Doctor from the University of Wisconsin Law School and a Bachelors of Business Administration degree in actuarial sciences and risk management from the University of Wisconsin Madison. This webinar provided insight onthe unique economic impact that the coronavirus pandemic has had on non-qualified executive benefit plans. Newport's experts provideda comprehensive review of this unprecedented legislation and how it impacts the day-to-day operations of retirement plans. 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 American Society of Pension Professionals & Actuaries is a non-profit professional society. 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. CEO. . Size. 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. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Ratings from the Employees at Newport Group's Headquarters Please update your bookmarks accordingly. "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. Multiple locations. 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. The Registered Agent on file for this company is Corporation Service Company D/B/A Csc-Lawyers Incorporationg Service Company and is located at 211 E. 7th Street, Suite 620, Austin, TX 78701-3218. Please consult your financial, tax, or other advisors to learn more about how state-based benefits and limitations would apply to your specific circumstance. The American Society of Pension Professionals & Actuaries is a non-profit professional society. 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. Newport by the numbers Over 45% OF THE FORTUNE 500 AS CLIENTS $169+ BILLION IN RETIREMENT ASSETS UNDER ADMINISTRATION 39,000+ PLANS $330+ When you invest in a 529 plan, you are purchasing municipal securities whose value may vary based on market conditions. 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. The company's filing status is listed as Active and its File Number is 3307407. View Greg Tschider's profile on LinkedIn, the world's largest professional community. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), Managing Challenges for Non-Qualified Plans Related to Coronavirus, Plan Sponsor Liability and Fiduciary Responsibilities in Light of COVID-19, Navigating the New Normal: Anticipating Plan Compliance Challenges in the Age of Coronavirus, Helping Plan Participants in the New Normal, How the CARES Act Impacts Retirement Plans, Newports Perspective on Market Volatility, Newports vital 3(16) administrative fiduciary services, 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). 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 . 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. Were redirecting you to the most relevant section of NewportGroup.com. Investment returns are not guaranteed, and you could lose money by investing in a 529 plan. Committed financing for the transaction has been provided by Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC. Ascensus completes its merger with Newport. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Privacy PolicyTerms of UseCopyright. 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. Company - Private. 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. 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. Knowledge Center Greg Tschider 98 Ratings Your trust is our top concern, so companies can't alter or remove reviews. Our union confirms the hard work of our dedicated employees and partners. The newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisers and retirement savers, the firm says. On average, Wendy Cantey works for one company for 2 years 5 months. 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? Newport Group achieves a major milestone: providing service to more than one million retirement and benefit plan participants. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing. 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. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. Terms of the deal were not disclosed. Ascensus and the Ascensus logo are trademarks of Ascensus, LLC. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. CEO. web design and development by new target, inc. 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 business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. 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. COPYRIGHT 2023BY ASPPA. Copyright 2023 Asset International, Inc. All Rights Reserved. Pension Specialists acquires HCS division of RSM McGladrey, expanding service offerings to actuarial, compensation and benefits consulting, and ESOP services. 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. Enroll in Your Plan, For account questions or help logging in, Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. This transaction is a strategic fit for our company. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing, according to the announcement. Securities in California are offered through Newport Securities Insurance Services. 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. With qualified and nonqualified retirement plan services, fiduciary consulting services and corporate- and bank-owned life insurance (COLI and BOLI) practices, Newport will expand the solutions and expertise Ascensus provides to its clients and adviser partners. 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 Participant Login FAQ Similarly, Newports clients will benefit from greater access to unique tax-advantaged savings solutions across retirement, education and health provided by Ascensus. 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. 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.. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. 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. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. "People Matter. Were here to provide trusted guidance during this period of uncertainty. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. We look forward to working with Laura Ramanis and her leadership team to unify our organizations in the months ahead and are eager to be operating as one team by next spring., Strategically Compelling CombinationMarket Strengths. Chief Compliance Officer. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Greg Tschider is the Chief Executive Officer at Newport Group. Funding $0 Acquisitions 2 News Latest News In another consolidation for the retirement plan business, Ascensus, a recordkeeping services provider and third-party administrator announced it has reached an . 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. Acquisition of Evercore Trust Companys institutional trust and independent fiduciary business, now part of Newport Trust Company. Participant Login FAQ As a provider and partner, Newport is independent, experienced and responsive. Similarly, the firms say Newports clients will benefit from greater access to tax-advantaged savings solutions across retirement, education and health provided by Ascensus. (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. General FAQ Newport helps companies offer their associates a more secure financial future through retirement plans, insurance and consulting services. According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Musk Made a Mess at Twitter. Learn more about Newports vital 3(16) administrative fiduciary services, which are provided at no cost to clients. She will be supported by Kurt Laning, executive vice president, Non-Qualified and Insurance Solutions, along with Newports senior management team. Founded. 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. Please update your bookmarks accordingly. https . Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), Insurance Company-Owned Life Insurance (ICOLI). Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. We expect the service platform investment, product expansion, and enhanced capabilities our union will deliver to be well-received by our collective clients. Together with its affiliate, Verisight, Inc., the firm has approximately 1,000 associates across the nation, more than 9,500 plans with over 975,000 plan participants, and services more than $120. About. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. 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. Securities in California are offered through Newport Securities Insurance Services. Non-Qualified Plans and the Coronavirus Newport welcomed several expert panelists, who provided insight on retirement plan liability and fiduciary issues associated with actions taken during this current environment. 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 . Newport Group (NG) assists organizations with offering their workers a safer monetary future through retirement plans, counseling administrations, and insurance plans. Laura Ramanis Chief Operating Officer Laura Ramanis serves as the Chief Operating Officer of Newport Group. Rebranded as Verisight, a unified, fully integrated company offering a wide array of retirement services. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. 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. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Director, Executive Finance, Legal, Operations. Greg Tschider has stepped down as CEO of Newport. Please update your bookmarks accordingly. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. 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'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. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. Company Type FOREIGN STOCK Jurisdiction California (US) Branch Branch of VERISIGHT, INC. (Delaware (US)) Registered Address 1350 TREAT BOULEVARD SUITE 300 WALNUT CREEK CA 94567 United States Agent Name CORPORATION SERVICE COMPANY WHICH WILL DO BUSINESS IN CALIFORNIA AS CSC - LAWYERS INCORPORATING SERVICE Agent Address Ascensus has entered into a definitive agreement for Newport Group, a Walnut Creek, California-based retirement services provider, to merge with Ascensus. According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. To ensure continuity of leadership, operations, and client service through closing, Laura Ramanis who has served as Newport's chief operating officer since 2014has been named interim CEO. Above it says due to getting pension that SS was not collected on will have to adjust. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. 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. 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. After the acquisition, Greg Tschider, CEO of Verisight, will be chief executive of the qualified retirement plan services business, and Newport CEO Peter Cahall, will be chief executive of the . Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. 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. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Jacqueline Ward. Revenue. 1985. On average, Martha works for one company for 9 years 9 months. 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.

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