Ascensus is a leading recordkeeping services provider, third-party administrator, and government savings facilitator inthe United States. Please consult your financial, tax, or other advisors to learn more about how state-based benefits and limitations would apply to your specific circumstance. Our online Knowledge Center is continually updated with the latest news and information relevant to our clients and retirement plan participants. Committed financing for the transaction has been provided by Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC. 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. Were redirecting you to the most relevant section of NewportGroup.com. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing, according to the announcement. Chief Human Resources Officer. NEWPORT GROUP, INC. is a Texas Foreign For-Profit Corporation filed on December 14, 2015. Through co-branded, private-labeled, and other governmental partnerships, our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing, according to the announcement. We expect the service platform investment, product expansion, and enhanced capabilities our union will deliver to be well-received by our collective clients. 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 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. Above it says due to getting pension that SS was not collected on will have to adjust. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. $50M to $100M. 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. Because we remain independent, Newport Group has no incentive to market specific investment products to a client, and . Please update your bookmarks accordingly. 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. retirement plan provider mergers and acquisitions, House Votes to Overturn Rule Allowing ESG Investing in Retirement Plans, SS&C Hires Nelson From Tata Consultancy as Retirement Business COO, Senate Follows House in Rejecting DOL ESG Rule, End Of The Road For Defined Benefit Plans? Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. web design and development by new target, inc. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee 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. Greg Tschider 98 Ratings Your trust is our top concern, so companies can't alter or remove reviews. Greg Tschider is Chief Executive Officer of Newport, a leading independent provider of retirement plans, insurance and consulting services. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Kieran Brady. With the merger, Ascensus-administered assets under administration (AUA) will increase to more than $700 billion, including $184 billion in government savings accounts. Job Department. 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. The company's filing status is listed as Withdrawn and its File Number is 800135460. The CARES Act Effect on Retirement Plans: Type. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Check out all Newport jobs Newport Moline, IL office. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company. Newport welcomed several expert panelists, who provided insight on retirement plan liability and fiduciary issues associated with actions taken during this current environment. Enroll in Your Plan, For account questions or help logging in, Acquisition of Evercore Trust Companys institutional trust and independent fiduciary business, now part of Newport Trust Company. CEO. Newport Group acquires Kidder Benefits Consultants, and its affiliate Kidder-Lane Actuarial Services. Securities in California are offered through Newport Securities Insurance Services. 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. Ascensus completes its merger with Newport. 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. 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. 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). Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. 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. See All 306 Reviews Diversity & Inclusion at Newport 4.3 ( 64 Reviews) According to LinkedIn Wendy Cantey started working on 1989, then the employee has changed 6 companies and 13 jobs. 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. 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. Key Principal: Greg W Tschider See more contacts Industry: Pension and retirement plan consultants. Copyright 2023 Asset International, Inc. All Rights Reserved. The firms hope to be operating as one team by next spring.. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing. 1 email found 3 phone numbers found . Participant Login FAQ Our union confirms the hard work of our dedicated employees and partners. Knowledge Center According to LinkedIn Martha started working on 1998, then the employee has changed 3 companies and 3 jobs. In that time, employees at the company's offices nationwide have helped more than 3,600 children get new shoes, jackets and socks! Terms of the transaction were not disclosed. Ugift is a registered service mark. Eric . Not Quite, The ERISA Industry Committee Promotes Two, Announces Priorities. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. 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). Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. 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. "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. Participant Login FAQ Were here to provide trusted guidance during this period of uncertainty. 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. 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. The availability of tax advantages or other benefits may be contingent on meeting other requirements. 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. "People Matter. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. 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. Multiple locations. . 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. Ascensus and the Ascensus logo are trademarks of Ascensus, LLC. 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. Greg Tschider. 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. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Edit Contacts Section. 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. 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. 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. Retirement plan participants can call Newports Participant Service Center at 844-749-9981, Monday through Friday, 8 a.m. to 8 p.m. COPYRIGHT 2023BY ASPPA. In another consolidation for the retirement plan business, Ascensus, a recordkeeping services provider and third-party administrator announced it has reached an . 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. Annual Revenue $25-100M Agree? Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. 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. Scott Pollack is Executive Vice President at Newport. Most people dont plan to stay in touch with their former employer after they change jobs or retire. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. Since its inception 38 years ago, Newport Group has grown to 1200 employees. On average, Wendy Cantey works for one company for 2 years 5 months. We expect the service platform investment, product expansion and enhanced capabilities our union will deliver to be well-received by our collective clients. Musk Made a Mess at Twitter. 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. Were redirecting you to the most relevant section of NewportGroup.com. Participant Login FAQ "PNC Bank is one of the largest and most-respected brands in the banking industry," says Greg Tschider, CEO of Newport Group. View Andre Mintz. GREG TSCHIDER, president; GREG TSCHIDER, chief executive officer; KURT LANTING, vice president; LAURA RAMANIS, chief operating officer; "This transaction is a strategic fit for our company. 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. Newport Group Chief Executive Officer Education Greg Tschider studied at University of Wisconsin-Madison. It takes less than ten minutes to set up your company page. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Since then Greg has changed 4 companies and 2 roles. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. 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. . " This transaction is a strategic fit for our. Non-Qualified Plans and the Coronavirus January 9, 2019 Uncategorized. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. Ratings from the Employees at Newport Group's Headquarters With industry-leading 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. Pensions are not only paid for by private employers. The Registered Agent on file for this company is Corporation Service Company Which Will Do Business IN California As Csc - Lawyers Incorporating Serv and is located at 2710 Gateway Oaks Dr Ste 150n, Sacramento, CA 95833. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. This transaction is a strategic fit for our company. General FAQ 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. Following a two-day planned meeting where the organization discussed its priorities for the year, the committee has named a new Alerus names new senior retirement specialist; WTW appoints global head of credit, manager research; and NFP acquires AFS Advisors. "This transaction is a strategic fit for our company. Enroll in Your Plan, For account questions or help logging in, 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 ET. With . Participant Login FAQ Greg Tschider is based out of San Francisco Bay Area and works at Newport Group as CEO. Enroll in Your Plan, For account questions or help logging in, The American Society of Pension Professionals & Actuaries is a non-profit professional society. Securities in California are offered through Newport Securities Insurance Services. According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. Terms of the deal were not disclosed. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. 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 To ensure continuity of leadership, operations, and client service through closing, Laura. Participant Login FAQ Youll learn how you can enhance your hiring and retention strategies. 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. The materials contained herein are intended for instruction only and are not a substitute for professional advice. NEWPORT GROUP, INC. is a California Stock Corporation - Out Of State - Stock filed on May 14, 2010. When you invest in a 529 plan, you are purchasing municipal securities whose value may vary based on market conditions. Most providers of our size are attached to a larger financial institution. 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. web design and development by new target, inc. 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. 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. "PNC Bank is one of the largest and most-respected brands in the banking industry," says Greg Tschider, CEO of Newport Group.

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