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. 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'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. All Rights Reserved 2023 Ascensus, LLC. David Musto, president and chief executive officer (CEO) of Ascensus, will serve as CEO of the combined company. . . Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. 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. Will His AI Plans Be Any Different? COPYRIGHT 2023BY ASPPA. Founded. As a provider and partner, Newport is independent, experienced and responsive. 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. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. 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. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Contacts. Greg Tschider has stepped down as CEO of Newport. Check out all Newport jobs Newport Moline, IL office. With . Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. The company's filing status is listed as Withdrawn and its File Number is 800135460. With so much news and real time information readily at hand, it can be difficult for anyone to process what is relevant and critical for making prudent financial decisions. 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. The company has more than $150 billion in retirement assets under administration and more than $300 billion in corporate retirement and insurance assets. EVP, Client Services at Newport Group. "PNC Bank is one of the largest and most-respected brands in the banking industry," says Greg Tschider, CEO of Newport Group. 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. 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. Kevin Patrick Senior Vice President Operations & Participant Services No Reproduction Without Prior Authorizations. 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. Greg Tschider is Chief Executive Officer of Newport, a leading independent provider of retirement plans, insurance and consulting services. 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. She will be supported by Kurt Laning, executive vice president, Non-Qualified and Insurance Solutions, along with Newports senior management team. As a provider and partner, Newport is independent, experienced and responsive. . During his tenure, AST grew into one of the leading independent trust companies in the country. Multiple locations. 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. 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. We expect the service platform investment, product expansion, and enhanced capabilities our union will deliver to be well-received by our collective clients. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. 644 followers 500 . 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. Greg Tschider, who led Newports successful growth strategy, has stepped down as CEO of Newport. The company's filing status is listed as In Existence and its File Number is 0802356195. To ensure continuity of leadership, operations, and client service through closing, Laura. Committed financing for the transaction has been provided by Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC. 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. Please update your bookmarks accordingly. This site is designed for U.S. residents only. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. 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. Scott Pollack. 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. Employees 1.0-5.0K Agree? Account owners assume all investment risks as well as responsibility for any federal and state tax consequences. According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. Alerus adds senior retirement specialist; HSA Bank acquires HSA solutions provider; Innocap to acquire BNY Mellons HedgeMark business; and more. 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 firms hope to be operating as one team by next spring.. Est. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. 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. Newport helps companies offer their associates a more secure financial future through retirement plans, insurance and consulting services. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. Please consult your financial, tax, or other advisors to learn more about how state-based benefits and limitations would apply to your specific circumstance. call the Participant Service Center at844-749-9981, Managing Challenges for Non-Qualified Plans Related to Coronavirus Alexa Gellinger. This webinar provided insight onthe unique economic impact that the coronavirus pandemic has had on non-qualified executive benefit plans. 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 . 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 Greg Tschider is the Chief Executive Officer at Newport Group. CEO of Newport Group San Francisco Bay Area. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. General FAQ It takes less than ten minutes to set up your company page. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. call the Participant Service Center at844-749-9981. 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. The CARES Act Effect on Retirement Plans: 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. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. " PNC Bank is one of the largest and most-respected brands in the banking industry," said Newport Group Chief Executive Officer Greg Tschider. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage 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. 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.. Evercore acted as exclusive financial advisor to Newport in connection with the transaction. Greg Tschider serves as the CEO / President of Newport Group. According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. Greg Tschider is Chief Executive Officer of Newport, a leading independent provider of retirement plans, insurance and consulting services. With the merger, Ascensus-administered assets under administration (AUA) will increase to more than $700 billion, including $184 billion in government savings accounts. General FAQ Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Chief Human Resources Officer. 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. 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 Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. 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. Ascensus completes its merger with Newport. 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. According to LinkedIn Wendy Cantey started working on 1989, then the employee has changed 6 companies and 13 jobs. 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.

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