Articles

Considerations for Separate Account BOLI Owners

Banks have been using separate account BOLI as informal offset to employee benefits costs since the late 1990s. During the early 2000s, the separate account structure became the product of choice for many mid- and large-sized banks. The structure requires an allocation of premiums to one or more investment sub-accounts offered by the insurance carrier.

Quarterly Product News

Upcoming Enhancements - Newport Group is strengthening our retirement plan solutions, as we continue to place high value in our plan sponsor and advisor relationships. The following summary provides an overview of what's to come, spanning across our entire suite of products and services. 

What the CEO Needs to Know About Compensation Best Practices

The marketplace for talent continues to change. So what should the CEO be aware of? Newport Group's Compensation Consulting Team can help. 

Meet the Team

Meet the Team: Newport Group's Qualified Client Services Leadership Team

Advisor Support for Plan Committee Best Practices

As a retirement plan advisor, you can help your plan sponsor clients with their fiduciary obligations by guiding them through the establishment of a plan committee. A plan committee considers, investigates, and takes action on retirement plan matters, and is one of the most effective ways plan sponsors can meet the procedural due diligence obligations of an ERISA fiduciary. Some of the potential benefits of using a committee to manage a retirement plan include:

How to Find, Fix and Avoid Plan Loan Mistakes

Plan loans are a popular feature of 401(k) and other retirement plans. Workers may be more likely to save for retirement in an employer sponsored plan if they know they can access their savings during their working years. And if they do need to do so, a plan loan enables them to restore their savings, with interest, back to their retirement plan account.

How Incentive Plans Can Drive Positive Results

An annual cash incentive plan can be a great motivator to drive organizational results. And it all begins with a good plan design.

Factors to Consider Before Executing a 1035 Exchange of BOLI Policies

Over the past two decades, Bank Owned Life Insurance (BOLI) has shown to be a great asset for banks, but occasionally a policy group may need to be replaced with a new product.  A replacement is typically executed via tax-free exchange under Internal Revenue Code Section 1035 (“1035 Exchange”). A 1035 Exchange should not be taken lightly, and there are many factors to consider before executing an exchange.

Now May Be a Good Time to Talk About the “Maybe” Notice

Mid-year offers opportunity to check in with your 401(k) plan clients to see how their plans fared on mid-year testing. These test results don’t count against the plan in any way, but they are a helpful gauge of whether the plan could fail nondiscrimination testing at year end–when there are consequences for failed testing results. 

Newport Group in the Spotlight at NAPA's 2019
401(k) Summit

Newport Group's expertise will be front and center at the 2019 National Association of Plan Advisor's (NAPA) 401(k) Summit.

Unauthorized access is prohibited. This site is designed for U.S. residents only.
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.