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). Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. 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. Above it says due to getting pension that SS was not collected on will have to adjust. Company Description We are a leading provider of retirement plans, insurance, and consulting services. 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. 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. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), Insurance Company-Owned Life Insurance (ICOLI). 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). 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 Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Securities in California are offered through Newport Securities Insurance Services. 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. The firms hope to be operating as one team by next spring.. During his tenure, AST grew into one of the leading independent trust companies in the country. Ascensus gobbles up Newport. "This transaction is a strategic fit for our company. 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. This webinar provided insight onthe unique economic impact that the coronavirus pandemic has had on non-qualified executive benefit plans. Depending on your interaction with Ascensus, other privacy policies may apply in addition to this Policy. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Reveal contact info Contact details Work email g*****@newpor***.com Valid Reveal Latest update September 27, 2021 Location San Francisco Bay Area Greg's current employer Export Newport Group Website newportgroup.com Industry To ensure continuity of leadership, operations, and client service through closing, Laura. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Peers. According to LinkedIn Wendy Cantey started working on 1989, then the employee has changed 6 companies and 13 jobs. She will be supported by Kurt Laning, executive vice president, Non-Qualified and Insurance Solutions, along with Newports senior management team. "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. 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 has extensive experience in the retirement services industry. 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. Our union confirms the hard work of our dedicated employees and partners. 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. Privacy PolicyTerms of UseCopyright. 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. Committed financing for the transaction has been provided by Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC. Enroll in Your Plan, For account questions or help logging in, Please update your bookmarks accordingly. With Newports business, Ascensus will see an expanded tax-advantaged savings participant base, including more than 140,000 nonqualified retirement plan participant accounts. With the merger, Ascensus-administered assets under administration (AUA) will increase to more than $700 billion, including $184 billion in government savings accounts. 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. Participant Login FAQ Newport Trust Company formed, offering our clients non-discretionary, directed trustee and custodial services. 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. The newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. Most people dont plan to stay in touch with their former employer after they change jobs or retire. "PNC Bank is one of the largest and most-respected brands in the banking industry," said Newport Group Chief Executive Officer Greg Tschider. Rebranded as Verisight, a unified, fully integrated company offering a wide array of retirement services. 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. Employees 1.0-5.0K Agree? https . Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. 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. Securities in California are offered through Newport Securities Insurance Services. Greg Tschider has stepped down as CEO of Walnut Creek, California-based Newport, and Laura Ramanis, its chief operating officer, will serve as interim CEO until the close of the transaction, the . 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. / Newport Group, Inc. Newport Group, Inc. Website. Greg Tschider has stepped down as CEO of Newport. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. Youll learn how you can enhance your hiring and retention strategies. 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. Were redirecting you to the most relevant section of NewportGroup.com. Most people dont plan to stay in touch with their former employer after they change jobs or retire. The capital behind Verisight is Stone Point, a hedge fund in Greenwich, Conn. that bought out the Chicago family office a couple of years ago. Securities in California are offered through Newport Securities Insurance Services. 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. General FAQ 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. 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. As a provider and partner, Newport is independent, experienced and responsive. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. 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. web design and development by new target, inc. 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 . Annual Revenue $25-100M Agree? Non-Qualified Plans and the Coronavirus 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. 1 email found 3 phone numbers found . Integrity Always." is a registered trademark used under license by Ascensus, LLC. "This transaction is a strategic fit for our company. According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. DailyAccess expands service offerings to health and welfare and investment advisory services. Navigating the New Normal: Anticipating Plan Compliance Challenges in the Age of Coronavirus. The CARES Act Effect on Retirement Plans: "PNC Bank is one of the largest and most-respected brands in the banking industry," says Greg Tschider, CEO of Newport Group. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newports chief operating officer (COO) since 2014has been named interim CEO. Participant Login FAQ 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. 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. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Multiple locations. and the Ascensus logo are trademarks of Ascensus, LLC. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. 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. 702 King Farm Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455 /. Newport Group (NG) assists organizations with offering their workers a safer monetary future through retirement plans, counseling administrations, and insurance plans. Greg Tschider. 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. 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. Please update your bookmarks accordingly. Pension Specialists acquires NextStep Defined Contribution, Inc. Pension Specialists, Inc. is founded in California. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. Were redirecting you to the most relevant section of NewportGroup.com. This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Acquisition of Evercore Trust Companys institutional trust and independent fiduciary business, now part of Newport Trust Company. Search Contacts. 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. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. Ascensus completes its merger with Newport. Newport Group acquires Kidder Benefits Consultants, and its affiliate Kidder-Lane Actuarial Services. Wendy Cantey has been working as a Senior Vice President of Strategic Initiatives and the Enterprise Project Management Office, Technol for Newport Group for 1034 . About AscensusAscensus helps millions of people save for what mattersretirement, education, and healthcare. The firms hope to be operating as one team by next spring.. . Website. Terms of the transaction were not disclosed. 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. $50M to $100M. Our online Knowledge Center is continually updated with the latest news and information relevant to our clients and retirement plan participants. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Copyright 2023 Asset International, Inc. All Rights Reserved. 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). Enroll in Your Plan, For account questions or help logging in, Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. 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. Greg Tschider, Verisight Inc: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Surveillance: Early Edition Bloomberg Surveillance: Early Edition with Francine. 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. Kieran Brady. According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. Newport Group acquires the Vested Interest defined contribution plan recordkeeping business of PNC Bank. Get a D&B Hoovers Free Trial. General FAQ 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. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. The materials contained herein are intended for instruction only and are not a substitute for professional advice. Check out all Newport jobs Newport Moline, IL office. 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.. 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. 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. With Newports business, Ascensus will also see an expanded tax-advantaged savings participant base, which will now reach more than 15 million people across the United States. Retirement plan participants can call Newports Participant Service Center at 844-749-9981, Monday through Friday, 8 a.m. to 8 p.m. 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 Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. Greg Tschider, who led Newports successful growth strategy, has stepped down as CEO of Newport. Greg Tschider has stepped down as CEO of Newport. Were redirecting you to the most relevant section of NewportGroup.com. Securities in California are offered through Newport Securities Insurance 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. The American Society of Pension Professionals & Actuaries is a non-profit professional society. Ascensus has entered into a definitive agreement for Newport Group, a Walnut Creek, California-based retirement services provider, to merge with Ascensus. 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. Large. Chief Financial Officer. Not Quite, The ERISA Industry Committee Promotes Two, Announces Priorities. 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. Jacqueline Ward. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. COPYRIGHT 2023BY ASPPA. 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. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. 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? 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. Key Principal: Greg W Tschider See more contacts Industry: Pension and retirement plan consultants. Participant Login FAQ 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. Our union confirms the hard work of our dedicated employees and partners. Evercore acted as exclusive financial advisor to Newport in connection with the transaction. With . Newport Group has 1 current employee profile, Chief Executive Officer Greg Tschider. Upromise is a registered service mark. 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. General FAQ Director, Executive Finance, Legal, Operations. 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 Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Enroll in Your Plan, For account questions or help logging in, . Edit Contacts Section. Newport maintains investment objectivity, fee transparency and a commitment to flexible, responsive service. The company's filing status is listed as Withdrawn and its File Number is 800135460. 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.

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