New studies continuously show that the American workforce is inadequately preparing for retirement. These go on to claim that poor retirement preparation adds to an employee’s financial stress. Further, the combination of these two factors is impacting employee work productivity, resulting in costs to employers. Are these studies accurate? If so, what can be done to improve the situation? This white paper from Newport explores what is driving retirement preparation in America and the reasons behind financial stress in the U.S. workplace.
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Newport's independent fiduciaries can provide increased transparency into the PBM landscape by assessing the reasonableness of fees charged and providing an unbiased assessment of the cost and quality of PBM arrangements.
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Employers work continuously to improve their retirement plans. Whether through refining the plan menu, enhancing the default option, or adding auto-enroll or auto-escalation features, employers strive to keep retirement plans evolving in ways that benefit their employees. But are employers measuring the effectiveness of the plan to see if these improvements are working?
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Performance evaluation is a critical aspect of executive talent management. Independent board of directors and chairpersons have a fiduciary responsibility unto shareholders; their role also includes providing strategic direction and formulating policy. Newport’s Compensation Consulting Practice works with clients to develop robust performance evaluation criteria and leadership competencies that are unique to the organization and industry.
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If your clients would benefit from robust plan administration and compliant programs at an affordable cost and reduced fiduciary risk when it comes to providing affordable retirement benefits to their employees, the Newport Pooled Employer Plan (PEP) might be just what you are looking for.
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New rules are now in effect for beneficiaries who inherit defined contribution retirement plan and IRA assets on or after January 1, 2020. It's important for plan sponsors to understand how the rule changes may affect their plan operations and beneficiaries’ payment options.
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You're most likely continuously looking for ways to enhance your retirement plan in a way that's beneficial to employees. But are your improvements effective? Find out how an analysis from Newport can measure how your employees are progressing relative to their retirement goals.
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The reach of pharmacy benefit managers (PBMs) has expanded significantly and they have garnered increased visibility in recent years as their earnings have increased along with the rise in health care costs, particularly prescription drug costs. This brings new opportunities to provide additional support to your current clients--and Newport can help.
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All organizations want effective leaders whose values align with those of the organization. Leaders should act with integrity, be ethical, and hold themselves and others accountable to the highest standards of excellence. High-functioning boards and CEOs can enhance and sustain an organization’s competitive advantage in uncertain times, making peformance evaluations a critical aspect of talent management.
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