PlanFacts

Quarterly Product News

 

For All Clients

  • Cybersecurity and Fraud Prevention – In an effort to mitigate cyber fraud, we will present ideas and best practices in our cybersecurity campaign that includes a webcast for advisors and plan sponsors and educational materials for plan sponsors and participants.
  • Spanish Website – Participants can dynamically change between English and Spanish translation or default to their preferred language.

For Clients with Qualified Plans

New Services

  • 3(16) Services – Newport Group can act as the fiduciary on the plan for many operational and administrative functions.
  • Spanish Statements – Participants can receive statements in Spanish.

New Regulatory Updates

  • Hardship Withdrawals – Regulatory changes announced in 2018 affecting hardship withdrawals have now been enabled. We will send amendments later this year to plans using a Newport Group document, provided that final regulations do not include unforeseen changes.

New Enhancements

  • Force Out Process – Newport Group will introduce a new force out distribution process for clients that are seeking a low cost solution.
  • Payroll Integration – Newport Group is onboarding additional payroll integration vendors supporting self-serve, 180, and 360 payroll options.
    • 180-Degree Partners: ADP, Paycom, Paychex, Namely, ConnectPay, UltiPro, and Complete Payroll (CPP)
    • 360-Degree Partners: Paylocity, CorPay
  • Stale Dated Check Process – A new report containing stale dated check information will be updated after monthly close and plan sponsors will have the option to print the report on-demand or schedule the report.
  • Participant Fee Disclosure – Continued roll out of our redesigned, easy-to-read disclosure format containing important information regarding participant accounts.
  • Sponsor Reporting – Continued enhancements to standardized reports.

Special Reminders

  • Sponsor Notifications – Functionality for plan sponsors to subscribe to receive email alerts when a participant makes a change to their account. 

Your Newport Group representative will be reaching out to discuss these enhancements as they are rolled out.

 

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Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Fiduciary consulting services are provided through Newport Group Securities, Inc., an SEC-registered investment adviser and FINRA-registered broker-dealer, and InterServ, LLC, an SEC-registered investment adviser. Newport Group Securities, Inc. and InterServ, LLC are affiliates of Newport Group, Inc. All securities transactions are provided through Newport Group Securities, Inc., in its role as broker-dealer. All fiduciary consulting services are provided through the registered investment adviser. when offering variable insurance products, Newport Group Securities, Inc. acts solely in its capacity as a broker-dealer.
Trust and custody services provided by Newport Trust Company, a New Hampshire state chartered trust company and wholly owned subsidiary of Newport Group, Inc.