PlanFacts

New Product News for Sponsors

New Product News for Sponsors

An Advance Look at Our Compensation, Retirement and Benefits Trends Survey

What are the latest approaches for recruiting, rewarding and retaining talent? Find out the latest trends in Newport's annual Compensation, Retirement and Benefits (CRB) Trends Report.

Introducing Our Managed Account Service

Our newest product is now on the market! Our Managed Account service—an optional online investment service for retirement plan participants—is an easy-to-use, online investment and savings service designed to help participants meet their retirement needs. 

Get Ready for Year-End Testing

Every 401(k) plan is subject to certain year-end testing requirements (even plans that have adopted a safe harbor design feature). As the sponsor of your company’s 401(k) plan, you must ensure that plan contributions have not exceeded the annual limits set by federal tax law and are not discriminatory against lower paid workers.

Our Latest DALBAR Rankings

Our participant website was highly ranked in the latest retirement industry benchmark report from DALBAR, a leading independent market research firm. 

Determining Whether or Not You Need a Plan Committee

Managing a company retirement plan by committee is not required by the IRS or the Department of Labor. But many plan sponsors find that setting up a plan committee is the best way to manage their fiduciary responsibilities and maintain compliance with the rules governing retirement plans. 

May a Plan Pay the Sponsor Costs for Helping to Run an ERISA Plan?

As plan sponsors are aware, operating any employee benefit plan costs money. Depending on the nature of these costs, they may be paid from plan assets. Where a plan is subject to Employee Retirement Income Security Act of 1974 (ERISA), in addition to general considerations of prudence any such reimbursements are subject to ERISA’s prohibited transaction rules.

Monitoring Managed Accounts: A Fiduciary Duty
 

In our previous newsletters, we discussed the growing demand for managed account services and previewed the product that Newport Group will soon be launching.  As a quick review, a managed account service identifies an investor's risk profile, assigns a portfolio that is suitable to the investor and monitors the portfolio over time, adjusting risk as needed.

Considerations for Separate Account BOLI Owners

Banks have been using separate account BOLI as informal offset to employee benefits costs since the late 1990s. During the early 2000s, the separate account structure became the product of choice for many mid- and large-sized banks. The structure requires an allocation of premiums to one or more investment sub-accounts offered by the insurance carrier.

Quarterly Product News

Upcoming Enhancements - Newport Group is strengthening our retirement plan solutions, as we continue to place high value in our plan sponsor and advisor relationships. The following summary provides an overview of what's to come, spanning across our entire suite of products and services. 

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Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Fiduciary consulting services are provided through Newport Group Securities, Inc., an SEC-registered investment adviser and FINRA-registered broker-dealer, and InterServ, LLC, an SEC-registered investment adviser. Newport Group Securities, Inc. and InterServ, LLC are affiliates of Newport Group, Inc. All securities transactions are provided through Newport Group Securities, Inc., in its role as broker-dealer. All fiduciary consulting services are provided through the registered investment adviser. when offering variable insurance products, Newport Group Securities, Inc. acts solely in its capacity as a broker-dealer.
Trust and custody services provided by Newport Trust Company, a New Hampshire state chartered trust company and wholly owned subsidiary of Newport Group, Inc.