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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. 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 Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. 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. As a provider and partner, Newport is independent, experienced and responsive. 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 . 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. How the CARES Act Impacts Retirement Plans Participant Login FAQ January 9, 2019 Uncategorized. Advisors and plan sponsor clients who have specific questions related to The CARES Act or how coronavirus is impacting benefit plans can contact us at coronavirusquestions@newportgroup.com. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. 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). DailyAccess expands service offerings to health and welfare and investment advisory services. Please consult your financial, tax, or other advisors to learn more about how state-based benefits and limitations would apply to your specific circumstance. 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. Free and open company data on Texas (US) company Newport Group, Inc. (company number 0802356195), 1350 TREAT BLVD, STE 300, Walnut Creek, CA, 94597. 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. Greg Tschider is based out of San Francisco Bay Area and works at Newport Group as CEO. Participant Login FAQ 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. "PNC Bank is one of the largest and most-respected brands in the banking industry," says Greg Tschider, CEO of Newport Group. Similarly, the firms say Newports clients will benefit from greater access to tax-advantaged savings solutions across retirement, education and health provided by Ascensus. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Newport Group achieves a major milestone: providing service to more than one million retirement and benefit plan participants. You may also contact your home states 529 plan(s), or any other 529 plan, to learn more about those plans features, benefits and limitations. 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. Above it says due to getting pension that SS was not collected on will have to adjust. COPYRIGHT 2023BY ASPPA. 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. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. During his tenure, AST grew into one of the leading independent trust companies in the country. In addition, the companies both invest in technology and offer digital capabilities and analytics. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Check out all Newport jobs Newport Moline, IL office. 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? Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. Were redirecting you to the most relevant section of NewportGroup.com. Youll learn how you can enhance your hiring and retention strategies. Employees 1.0-5.0K Agree? We answer some of the most common questions non-qualified plan sponsors may be receiving in light of the novel coronavirus. Greg Tschider 98 Ratings 5.0 Current Employee, more than 8 years "Great place to grow your career" Dec 6, 2022 - Vice President Recommends Positive Outlook Approves of CEO Pros Career growth is encouraged and supported Cons None that I am aware of. 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. 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. On average, Wendy Cantey works for one company for 2 years 5 months. Chief Financial Officer. This site is designed for U.S. residents only. Enroll in Your Plan, For account questions or help logging in, General FAQ 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. 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. 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. Please update your bookmarks accordingly. This on-demand webinar is focused on key levers for retaining talent in todays complex environment. According to ZoomInfo records, Greg Tschider's professional experience began in 2003. Alexa Gellinger. Newport Group CEO Greg Tschider said in a statement, "Our independence, coupled with our experience and responsiveness, is what our brand stands for. 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. Most people dont plan to stay in touch with their former employer after they change jobs or retire. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. 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 and the Ascensus logo are trademarks of Ascensus, LLC. Newport Group was founded in 1985 and its current CEO is Greg Tschider. Investing Companies. 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. Privacy PolicyTerms of UseCopyright. Committed financing for the transaction has been provided by Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. Greg Tschider is Chief Executive Officer of Newport, a leading independent provider of 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. The company's filing status is listed as In Existence and its File Number is 0802356195. 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. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Enroll in Your Plan, For account questions or help logging in, Job Department. Pensions are not only paid for by private employers. EVP, Client Services. According to LinkedIn Wendy Cantey started working on 1989, then the employee has changed 6 companies and 13 jobs. Search Contacts. . Newport Group Chief Executive Officer Education Greg Tschider studied at University of Wisconsin-Madison. Greg Tschider has stepped down as CEO of Newport. This site is designed for U.S. residents only. 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. Our union confirms the hard work of our dedicated employees and partners. According to LinkedIn Martha started working on 1998, then the employee has changed 3 companies and 3 jobs. On average, Martha works for one company for 9 years 9 months. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing, according to the announcement. ET. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Kieran Brady. Were redirecting you to the most relevant section of NewportGroup.com. Newport Group has 1 current employee profile, Chief Executive Officer Greg Tschider. 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.. Eric . The company's filing status is listed as Active and its File Number is 3307407. We expect the service platform investment, product expansion, and enhanced capabilities our union will deliver to be well-received by our collective clients. 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. Ascensus completes its merger with Newport. Learn how to leverage transparent company data at scale. NEWPORT GROUP, INC. is a Texas Foreign For-Profit Corporation filed on December 14, 2015. 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. (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.