Institutional Trustee Services

Different plans require different types of trust and fiduciary services. Newport Trust’s experienced trust administrators focus on providing responsive, secure, and technologically advanced services. Newport Trust maintains a fully responsive, secure, reliable and effective operating environment with proper controls and safeguards to provide structure around the fiduciary decision making process, reinforced by a regulatory framework and periodic audits.
 
Our corporate trustee and custodial services include:
  • Services for the same-day processing of trades, individually directed accounts, separately managed accounts and company stock
  • Trust accounting, including:
    • Calculation of realized/unrealized gains and losses
    • Tax withholding, remitting and reporting
    • Daily unitization of company stock, separately managed accounts and fund portfolios
  • Allocation of plan sponsor and employee contributions
  • Collection and crediting of plan income
  • Disbursements of expenses and third-party payments
  • Check, ACH and wire distribution
  • Consolidated monthly statements and certified annual trust reports
     
Grantor (Rabbi) Trusts for Non-Qualified Plans
Newport Trust may be retained as trustee of a rabbi trust that an employer establishes to secure benefits for a non-qualified excess plan, top-hat plan, or other executive deferred compensation plan. With in-depth experience in change-of-control and change-of-heart situations, Newport Trust can hold and invest trust assets pursuant to the trust agreement, providing another layer of security to participants and beneficiaries.
 
Our responsibilities as trustee may include:
  • Asset custody
  • Defending the trust and interests of plan participants against hostile takeovers
  • Determining participants’ entitlement to distributions after a change in control
  • Administering plan distributions
  • Reporting
     

 

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Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Fiduciary consulting services are provided through Newport Group Securities, Inc., an SEC-registered investment adviser and FINRA-registered broker-dealer, and InterServ, LLC, an SEC-registered investment adviser. Newport Group Securities, Inc. and InterServ, LLC are affiliates of Newport Group, Inc. All securities transactions are provided through Newport Group Securities, Inc., in its role as broker-dealer. All fiduciary consulting services are provided through the registered investment adviser. when offering variable insurance products, Newport Group Securities, Inc. acts solely in its capacity as a broker-dealer.
Trust and custody services provided by Newport Trust Company, a New Hampshire state chartered trust company and wholly owned subsidiary of Newport Group, Inc.