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According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. We expect the service platform investment, product expansion, and enhanced capabilities our union will deliver to be well-received by our collective clients. 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. Participant Login FAQ Peers. CEO. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. 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. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Acquired Clark Consulting's operations, making us a leading provider of bank-owned life insurance (BOLI). Enroll in Your Plan, For account questions or help logging in, 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. 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. Were redirecting you to the most relevant section of NewportGroup.com. 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 and the Newport Group leadership team are scored a B- by 9 employees placing it in the Top 40% of companies sized 1,001-5,000 Employees on Comparably. 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. 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. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, China Gives New Backing to Coal Even as Clean Energy Accelerates, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? Most people dont plan to stay in touch with their former employer after they change jobs or retire. 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. 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. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. When you invest in a 529 plan, you are purchasing municipal securities whose value may vary based on market conditions. 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. 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. January 9, 2019 Uncategorized. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. She will be supported by Kurt Laning, executive vice president, nonqualified and insurance solutions, along with Newports senior management team. 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. 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. 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.. Were redirecting you to the most relevant section of NewportGroup.com. The CARES Act Effect on Retirement Plans: call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. ET. 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. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Type. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. The firms hope to be operating as one team by next spring.. Participant Login FAQ The materials contained herein are intended for instruction only and are not a substitute for professional advice. As a provider and partner, Newport is independent, experienced and responsive. 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. 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. How the CARES Act Impacts Retirement Plans Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. On average, Martha works for one company for 9 years 9 months. "This transaction is a strategic fit for our company. Please update your bookmarks accordingly. 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 Kevin Patrick Senior Vice President Operations & Participant Services Investing Companies. Ratings from the Employees at Newport Group's Headquarters All Rights Reserved 2023 Ascensus, LLC. 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 Will His AI Plans Be Any Different? Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. The company's filing status is listed as Withdrawn and its File Number is 800135460. 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's experts provideda comprehensive review of this unprecedented legislation and how it impacts the day-to-day operations of retirement plans. 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. 1 email found 3 phone numbers found . Newport Group acquires the retirement recordkeeping, administrative, and actuarial services business of People's United Bank. Verisight will continue to be led by Greg Tschider, who helped a family business based in Chicago roll up trust and custody firms before they sold that and moved on to the record keeping industry. 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. In that time, employees at the company's offices nationwide have helped more than 3,600 children get new shoes, jackets and socks! The Newport Group, DailyAccess, and Verisight rebrand as one retirement, insurance and consulting services provider: Newport. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Terms of the deal were not disclosed. COPYRIGHT 2023BY ASPPA. 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. 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. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. Please consult your financial, tax, or other advisors to learn more about how state-based benefits and limitations would apply to your specific circumstance. . View Greg Tschider's profile on LinkedIn, the world's largest professional community. 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. Newport Group Chief Executive Officer Education Greg Tschider studied at University of Wisconsin-Madison. Greg Tschider is Chief Executive Officer of Newport, a leading independent provider of retirement plans, insurance and consulting services. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. 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. 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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. Check out all Newport jobs Newport Moline, IL office. 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. Multiple locations. 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. 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. The Newport Group expands service offerings to non-qualified plans, BOLI/ COLI, and fiduciary consulting. 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. Join the conversation on Finance 3m a Commercial Customer Service Representative What's the best way to have a lack of compensation and incentive conversation in your department? 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. 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. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. 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. Youll learn how you can enhance your hiring and retention strategies. With Newports business, Ascensus will see an expanded tax-advantaged savings participant base, including more than 140,000 nonqualified retirement plan participant accounts. Above it says due to getting pension that SS was not collected on will have to adjust. Laura Ramanis Chief Operating Officer Laura Ramanis serves as the Chief Operating Officer of Newport Group. call the Participant Service Center at844-749-9981. Greg has 1 job listed on their profile. Please update your bookmarks accordingly. During his tenure, AST grew into one of the leading independent trust companies in the country. Our online Knowledge Center is continually updated with the latest news and information relevant to our clients and retirement plan participants. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Were here to provide trusted guidance during this period of uncertainty. Kieran Brady. Youll learn how you can enhance your hiring and retention strategies. 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 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. Pensions are not only paid for by private employers. Were redirecting you to the most relevant section of NewportGroup.com. Ascensus gobbles up Newport. 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. BILLION IN RETIREMENT ASSETS UNDER ADMINISTRATION, BILLION IN CORPORATE RETIREMENT + INSURANCE ASSETS. General FAQ https . Greg Tschider has stepped down as CEO of Newport. Newport Group CEO Greg Tschider said in a statement, "Our independence, coupled with our experience and responsiveness, is what our brand stands for. 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 . EVP, Client Services. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Ugift is a registered service mark. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Quality First. As a provider and partner, Newport is independent, experienced and responsive. Annual Revenue $25-100M Agree? Our union confirms the hard work of our dedicated employees and partners. 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 . Most people dont plan to stay in touch with their former employer after they change jobs or retire. 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. and the Ascensus logo are trademarks of Ascensus, LLC. 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. Acquisition of Evercore Trust Companys institutional trust and independent fiduciary business, now part of Newport Trust Company. The CARES Act Effect on Retirement Plans: Securities in California are offered through Newport Securities Insurance Services. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Pension Specialists acquires HCS division of RSM McGladrey, expanding service offerings to actuarial, compensation and benefits consulting, and ESOP services. 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. He previously served as president of Wilmington Trust Retirement and Institutional Services Company (a member of the Wilmington Trust Company family; NYSE: WL) and its predecessor company, AST Capital Trust Company of Delaware. Terms of the deal were not disclosed. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing. 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. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. 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. Greg Tschider has stepped down as CEO of Newport. Chief Financial Officer. Greg Tschider is based out of San Francisco Bay Area and works at Newport Group as CEO. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Copyright 2023 Asset International, Inc. All Rights Reserved. According to LinkedIn Wendy Cantey started working on 1989, then the employee has changed 6 companies and 13 jobs. 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. Knowledge Center In addition, the companies both invest in technology and offer digital capabilities and analytics. GREG TSCHIDER, president; GREG TSCHIDER, chief executive officer; KURT LANTING, vice president; LAURA RAMANIS, chief operating officer; To ensure continuity of leadership, operations, and client service through closing, Laura. Newport helps companies offer their associates a more secure financial future through retirement plans, insurance and consulting services. "PNC Bank is one of the largest and most-respected brands in the banking industry," said Newport Group Chief Executive Officer Greg Tschider. Ascensus and the Ascensus logo are trademarks of Ascensus, LLC. 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. You can read Newports comprehensive analysis of this important legislation here. Job Department. The American Society of Pension Professionals & Actuaries is a non-profit professional society. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. 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. Committed financing for the transaction has been provided by Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC. This includes 529 plans, ABLE [Achieving a Better Life Experience] savings accounts and state-facilitated retirement programs. General FAQ Newport Group (NG) assists organizations with offering their workers a safer monetary future through retirement plans, counseling administrations, and insurance plans. Upromise is a registered service mark. Revenue. No Reproduction Without Prior Authorizations. Greg Tschider 98 Ratings Your trust is our top concern, so companies can't alter or remove reviews. . "PNC Bank is one of the largest and most-respected brands in the banking industry," says Greg Tschider, CEO of Newport Group. Evercore acted as exclusive financial advisor to Newport in connection with the transaction. 644 followers 500 . Ascensus is a leading recordkeeping services provider, third-party administrator, and government savings facilitator inthe United States.