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. 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 . Our union confirms the hard work of our dedicated employees and partners. Chief Financial Officer. We expect the service platform investment, product expansion, and enhanced capabilities our union will deliver to be well-received by our collective clients. The company's filing status is listed as Active and its File Number is 3307407. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Acquired Clark Consulting's operations, making us a leading provider of bank-owned life insurance (BOLI). Industry. 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. " This transaction is a strategic fit for our. Revenue. 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 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. Investing Companies. NEWPORT GROUP, INC. is a Texas Foreign For-Profit Corporation filed on December 14, 2015. EVP, Client Services at Newport Group. Pension Specialists acquires NextStep Defined Contribution, Inc. Pension Specialists, Inc. is founded in California. According to LinkedIn Wendy Cantey started working on 1989, then the employee has changed 6 companies and 13 jobs. Pension Specialists acquires HCS division of RSM McGladrey, expanding service offerings to actuarial, compensation and benefits consulting, and ESOP services. "This transaction is a strategic fit for our company. Retirement plan participants can call Newports Participant Service Center at 844-749-9981, Monday through Friday, 8 a.m. to 8 p.m. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. 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. 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. 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. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. In another consolidation for the retirement plan business, Ascensus, a recordkeeping services provider and third-party administrator announced it has reached an . 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. Copyright 2023 Asset International, Inc. All Rights Reserved. Securities in California are offered through Newport Securities Insurance Services. Newport Group Chief Executive Officer Education Greg Tschider studied at University of Wisconsin-Madison. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Quality First. Multiple locations. call the Participant Service Center at844-749-9981, Managing Challenges for Non-Qualified Plans Related to Coronavirus . 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. Learn more about Newports vital 3(16) administrative fiduciary services, which are provided at no cost to clients. Director, Executive Finance, Legal, Operations. As a provider and partner, Newport is independent, experienced and responsive. COPYRIGHT 2023BY ASPPA. Youll learn how you can enhance your hiring and retention strategies. 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? Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing, according to the announcement. Kevin Patrick Senior Vice President Operations & Participant Services 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. Alerus adds senior retirement specialist; HSA Bank acquires HSA solutions provider; Innocap to acquire BNY Mellons HedgeMark business; and more. Check out all Newport jobs Newport Moline, IL office. Scott Pollack. This webinar provided insight onthe unique economic impact that the coronavirus pandemic has had on non-qualified executive benefit plans. 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 company has more than $150 billion in retirement assets under administration and more than $300 billion in corporate retirement and insurance assets. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Funding $0 Acquisitions 2 News Latest News During his tenure, AST grew into one of the leading independent trust companies in the country. With the merger, Ascensus-administered assets under administration (AUA) will increase to more than $700 billion, including $184 billion in government savings accounts. 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. The newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. Rebranded as Verisight, a unified, fully integrated company offering a wide array of retirement services. 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 has 1 job listed on their profile. 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. 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? 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. University of Wisconsin-Madison Bachelor Business Administration Recent News and Activity There is no recent news or activity for this profile. Together with its affiliate, Verisight, Inc., the firm has approximately 1,000 associates across the nation, more than 9,500 plans with over 975,000 plan participants, and services more than $120. Were redirecting you to the most relevant section of NewportGroup.com. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. This includes 529 plans, ABLE [Achieving a Better Life Experience] savings accounts and state-facilitated retirement programs. The Newport Group expands service offerings to non-qualified plans, BOLI/ COLI, and fiduciary consulting. 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 Participant Login FAQ Printer Friendly View Address: 35 Iron Point Cir Ste 300 Folsom, CA, 95630-8589 United States . Greg has extensive experience in the retirement services industry. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing. 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. Large. Newport offers comprehensive plan solutions and consulting expertise to plan sponsors and the advisors who serve them. The materials contained herein are intended for instruction only and are not a substitute for professional advice. Before investing in any 529 plan, please consider whether your or the beneficiarys home state offers any state tax or other state benefits such as financial aid, scholarship funds, and protection from creditors that are only available for investments in that states 529 plan. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. Youll learn how you can enhance your hiring and retention strategies. Terms of the deal were not disclosed. Staffed by an exceptional team of nearly 1,500 retirement, insurance, and consulting professionals, the company provides retirement solutions tailored to the needs of employers of every size, from small businesses to the Fortune 1000. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. Please update your bookmarks accordingly. Newport maintains investment objectivity, fee transparency and a commitment to flexible, responsive service. Get a D&B Hoovers Free Trial. Greg Tschider has stepped down as CEO of Newport. Ratings from the Employees at Newport Group's Headquarters You can read Newports comprehensive analysis of this important legislation here. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. This site is designed for U.S. residents only. See All 306 Reviews Diversity & Inclusion at Newport 4.3 ( 64 Reviews) 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. Above it says due to getting pension that SS was not collected on will have to adjust. Ascensus and Newport are both respected leaders in the marketplaceand well-known for service excellence, deep expertise, investment independence and purpose-built technology, Musto says. Annual Revenue $25-100M Agree? Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. https . 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. 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. Participant Login FAQ Our union confirms the hard work of our dedicated employees and partners. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. David Musto, president and chief executive officer (CEO) of Ascensus, will serve as CEO of the combined company. Enroll in Your Plan, For account questions or help logging in, Free and open company data on Texas (US) company Newport Group, Inc. (company number 0802356195), 1350 TREAT BLVD, STE 300, Walnut Creek, CA, 94597. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. 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? Contacts. Key Principal: Greg W Tschider See more contacts Industry: Pension and retirement plan consultants. To ensure continuity of leadership, operations, and client service through closing, Laura. Participant Login FAQ . Not Quite, The ERISA Industry Committee Promotes Two, Announces Priorities. Greg Tschider is based out of San Francisco Bay Area and works at Newport Group as 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. 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. Similarly, the firms say Newports clients will benefit from greater access to tax-advantaged savings solutions across retirement, education and health provided by Ascensus. EVP, Client Services. In addition, the companies both invest in technology and offer digital capabilities and analytics. Privacy PolicyTerms of UseCopyright. 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. Because we remain independent, Newport Group has no incentive to market specific investment products to a client, and . The firms hope to be operating as one team by next spring.. In this role, he leads the company's qualified retirement client service teams. Newport Group has 1 current employee profile, Chief Executive Officer Greg Tschider. Please consult your financial, tax, or other advisors to learn more about how state-based benefits and limitations would apply to your specific circumstance. On average, Martha works for one company for 9 years 9 months. 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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). and the Ascensus logo are trademarks of Ascensus, LLC. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. This site is designed for U.S. residents only. 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. "This transaction is a strategic fit for our company . Since its inception 38 years ago, Newport Group has grown to 1200 employees. 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. 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. January 9, 2019 Uncategorized. Since then Greg has changed 4 companies and 2 roles. Plan Sponsor Liability and Fiduciary Responsibilities in Light of COVID-19 Similarly, Newports clients will benefit from greater access to unique tax-advantaged savings solutions across retirement, education and health provided by Ascensus. Please update your bookmarks accordingly. Ascensus and the Ascensus logo are trademarks of Ascensus, LLC. 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. 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 achieves a major milestone: providing service to more than one million retirement and benefit plan participants. 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. Youll learn how you can enhance your hiring and retention strategies. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Type. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. web design and development by new target, inc. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Please update your bookmarks accordingly. 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. Est. 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. 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. About AscensusAscensus helps millions of people save for what mattersretirement, education, and healthcare. Newport by the numbers Over 45% OF THE FORTUNE 500 AS CLIENTS $169+ BILLION IN RETIREMENT ASSETS UNDER ADMINISTRATION 39,000+ PLANS $330+ 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. Committed financing for the transaction has been provided by Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC. 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 . 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. 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. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Greg Tschider. Will His AI Plans Be Any Different? 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.

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