Topic: Advisor Resources

Newport Group Again Ranked a Top DC Recordkeeper

Walnut Creek, CA—July 30, 2018—We are pleased to announce that the retirement industry’s leading publication has again named Newport Group one of the nation’s largest defined contribution recordkeepers.

Advisor Webinar: Strategic Plan Design: Smart Solutions for Overcoming Failed ADP/ACP Testing

Speaker: Regional Director David Baum and Director Compliance Tami Delaney
Air Date: July 19, 2018

Focus on Compliance: Timing of Bonus Deferral Elections

Internal Revenue Code Section 409A (“IRC 409A”) requiresthat elections to defer compensation be made only at specified times. An election to defer compensation that is made later than permitted under IRC 409A is not valid, and would preclude the intended deferral of income.

Focus on Compliance: Mid-Year Enrollments

Internal Revenue Code Section 409A (“IRC 409A”) permits employees who first become eligible to participate in a non-qualified plan during the middle of the year to enroll within 30 days of initial eligibility. This rule may be beneficial to employees who are first hired in – or promoted to an eligible position during the middle of a tax year. However, care must be taken to ensure the rule is properly applied.

Focus on Compliance: Expatriates

Multinational corporations frequently transfer employees to work in foreign countries for extended periods. Expatriation raises questions regarding the employee’s status as a participant in the company’s non-qualified deferred compensation plan. Legislation adopted in 2008 (the Heroes Earnings Assistance and Tax Relief Act) may also require that deferred compensation benefits be included in income on the expatriation date.

Investment Manager Due Diligence Process

Newport Group believes that investment managers should be selected and monitored using a well-defined process. Our dedicated team of research analysts combines both quantitative analysis and qualitative research in order to identify investment managers we believe will provide superior long-term performance.

Michael DiCenso Joins Newport Group as Executive Vice President

Walnut Creek, CA—June 19, 2018—Newport Group, a leading provider of retirement plans, insurance, and consulting services, announced today that Michael DiCenso has joined the organization as Executive Vice President.

Newport Group Secures New Investment Partner in Kelso & Company

Walnut Creek, CA—June 8, 2018—Newport Group, a leading provider of retirement plans, insurance, and consulting services, announced today that the company has reached an agreement with the private equity firm Kelso & Company (Kelso). Kelso will make a significant investment in Newport Group and provide access to capital to help fund the future growth of the company. 

Finding and Fixing Common Plan Mistakes

To err is human. Even the most organized and meticulous plan sponsors can make mistakes, as can the countless others they rely on to help them administer their plans and process plan transactions. 

Vanguard Chooses Newport Group as its Non-Qualified Plan Administration Partner

We are pleased to announce that Vanguard has selected Newport Group as a partner to provide comprehensive administration to their non-qualified plan clients.

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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 Newport Group Consulting, LLC, an SEC-registered investment adviser. Newport Group Securities, Inc. and Newport Group Consulting, 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 advisers. 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.