Your ongoing loyalty, business, and partnership are greatly appreciated. Together, we delivered
a lot for our clients this year. We expanded quarterly participant education campaigns,
enhanced electronic delivery of required notices and disclosures, and added Form 5500 signing
capability for our 3(16) clients. All of this was accomplished with an eye towards reinforcing our
commitment to helping clients spend less time on retirement plan administration.
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Bank Owned Life Insurance (BOLI) purchases through the first half of 2022 continue to be elevated relative to historical standards, which has been a consistent trend since the second quarter of 2020. As of June 30, 2022, total BOLI owned by all US banks totaled $222.5 billion (1), which is a year-over-year increase of $10.8 billion.
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The latest analysis of compensation and benefits trends that advisors can use to assist their clients.
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The demand for bank-owned life insurance (BOLI) was strong in 2021. Newport experts anticipate a similar appetite for BOLI for the first quarter of 2022 and beyond.
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How can employers keep their finger on the pulse of competitive pay in today’s highly competitive labor market? Newport's Compensation Consulting experts show you how.
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Are you impacted by the Great Resignation? Newport's experts reveal how to turn it into the Great Retention with winning compensation and benefits strategies.
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The global pandemic has enabled employees across industries to become adept at virtual collaboration. Technology has transformed meetings where co-workers, colleagues and clients have become familiar online faces. Many organizations are now considering maintaining this model into the near future, but a common question is how to factor in location to determine employee pay.
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More bank mergers and acquisitions were announced in April 2021 since the COVID-19 pandemic hit the United States in March 2020. Bank consolidations are complex, time consuming and costly, with focus justifiably on systems branch network and employee culture. But one area that is frequently overlooked is the acquired BOLI portfolio.
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Newport assisted a client with assessing the competitiveness of current Board Director compensation levels as compared to market. Newport also performed an analysis of the Board’s strategic support capabilities.
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Newport anticipates significant changes and opportunities in 2021, impacting compensation and retirement benefits for highly compensated employees (HCEs) and providing opportunities for companies to rethink their business. Non-qualified plans and company-owned life insurance (COLI) can help companies address cost, compensation, and benefits issues.
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