Articles

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:

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.

Meet the Team

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

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. 

Quarterly Product News for Advisors

What’s new at Newport? We’re keeping you informed each quarter of our latest products and services. Here's a look at what's ahead for the Fourth Quarter of 2019.

A Prudent Approach to Evaluating Target Date Funds

Target date funds provide unique challenges for evaluating and monitoring to meet the standards of ERISA. Learn about the extensive protocol designed by Newport Group.
 

Monitoring Managed Accounts: A Fiduciary Duty
 

In our previous newsletters, we discussed the growing demand for managed account services and previewed the product that Newport Group will soon be launching.  As a quick review, a managed account service identifies an investor's risk profile, assigns a portfolio that is suitable to the investor and monitors the portfolio over time, adjusting risk as needed.

May a Plan Pay the Sponsor Costs for Helping to Run an ERISA Plan?

As plan sponsors are aware, operating any employee benefit plan costs money. Depending on the nature of these costs, they may be paid from plan assets. Where a plan is subject to Employee Retirement Income Security Act of 1974 (ERISA), in addition to general considerations of prudence any such reimbursements are subject to ERISA’s prohibited transaction rules.

Determining Whether or Not You Need a Plan Committee

Managing a company retirement plan by committee is not required by the IRS or the Department of Labor. But many plan sponsors find that setting up a plan committee is the best way to manage their fiduciary responsibilities and maintain compliance with the rules governing retirement plans. 

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.

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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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