Creative Plan Design 

EVALUATING A CURRENT PLAN
Newport consultants can conduct a comprehensive analysis of an existing plan, identifying gaps and opportunities for enhancement. We establish plan targets, define strategic goals, and present specific, objective recommendations.

PLAN RE-DESIGN
We offer either a standardized prototype plan document or a non-standardized document for additional flexibility. Once the plan re-design is finalized, sponsors receive a completed adoption agreement. As plan changes occur, we can prepare plan amendments and produce or update summary plan descriptions. We also monitor every plan to keep it current.

KEEPING THE PLAN CURRENT
In today’s legislative environment, ongoing developments in benefit plan regulations add to the complexity of managing a retirement program. Newport proactively monitors legislative activity, providing sponsors with technical support to interpret existing or changing regulations and the impact on their plan.

COMPLIANCE AND REPORTING
In addition to keeping sponsors informed of changes in legislation, our expert in-house compliance team can perform required testing and filing of government forms to ensure the plan stays in compliance with IRS regulations. Signature-ready IRS Form 5500 and related schedules can also be prepared.

For plans that require an independent auditor’s report, a consolidated reporting package can be provided to the audit firm. Compliance professionals are available to field auditor questions.