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New Product News 

Jun 10, 2021

Payroll Notification Enhancements – Qualified Plans

In July, if sponsors currently subscribe to late payrolls notifications, they will be transitioned automatically to new Payroll Calendaring and Tracking functionality with updated email notifications. The emails will now be sent through our new enterprise messaging and communications platform. The email notifications will inform sponsors of late payroll file and/or payroll funding that has not been received. Sponsors will receive one combined email of both notifications. 

For sponsors not currently receiving late payroll notifications but are interested in subscribing to this service, please contact your client service manager.

Please note that for adopting employers in Pooled Employer Plans (PEPs), email notifications will be enabled in August. Until August, the current process will remain in place.  

 

Participant Request Tracker – for Qualified Plan Loans and Distribution Requests

Starting in July, Newport will begin rolling out a feature for participants who requested a loan or distribution, that will allow them to monitor the progress of their request online using the new Participant Request Tracker. The Participant Request Tracker appears on both the participant website and the Newport App. In addition, we will be sending notification emails using our new enterprise messaging and communications platform to the electronic address on record for the participant.

Financial Wellness Sponsor Insights Report

In the third quarter, we will begin posting a Financial Wellness Insights Report to the Plan Sponsor Access website. The new report will give sponsors a lens into how their participants are interacting with the Financial Wellness tool. Please keep an eye out for materials coming soon on how best to utilize the report.

Quick Enroll

Newport’s mobile friendly enrollment experience will introduce an entirely re-envisioned enrollment process that leverages fully-responsive design and messaging to drive user behavior, increase engagement and participation. In addition to making qualified enrollment available on mobile devices, we’ll be adding new enrollment alerts to the mobile experience, ensuring users are reminded they’re eligible for an enrollment event.
 
In July, Quick Enroll will be automatically enabled for all plans that currently have online enrollment and online deferral change enabled.

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Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services.
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