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New Product News 

Jun 24, 2021

The following enhancements will take place by the end of July:

Payroll Notification Enhancements – Qualified Plans

Sponsors currently subscribing to late payrolls notifications will be transitioned automatically to new Payroll Calendaring and Tracking functionality with updated email notifications. The emails will 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. 

Sponsors not currently receiving late payroll notifications but are interested in subscribing to this service should contact your client service manager.

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

Participant Request Tracker – for Qualified Plan Loans and Distribution Requests

Newport will begin rolling out a feature for participants who requested a loan or distribution, allowing 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.

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.
 
Quick Enroll will be automatically enabled for all plans that currently have online enrollment and online deferral change enabled.
 
The following additional enhancement will take place by September:

Financial Wellness Sponsor Insights Report

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.

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

Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Securities in California are offered through Newport Securities Insurance Services. For more information about Newport Group Consulting and its services, Newport Group Securities, Inc. or Newport Securities Insurance Services and services offered, please refer to our Form ADV Part 2, which is available by contacting us at 407-333-2905, visit our website at www.newportgroup.com, or advisorinfo.sec.gov.  

Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans.

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