Aug 12, 2020
Walnut Creek, CA — Aug. 12, 2020 — PLANSPONSOR magazine, a premier monthly publication reporting on the retirement industry, has again ranked Newport among the nation’s largest and fastest growing defined contribution recordkeepers. Of the 53 companies featured in the magazine’s annual “Recordkeeping Survey,” Newport was #17 in overall plan assets—up one position from the previous year. Newport was also ranked in the Top 10 for a second consecutive year for most defined contribution plans added in 2019.
The survey found Newport firmly established among top recordkeepers—ranking #16 in overall plans and #20 in overall participants. This was the first time Newport has been included in the Top 20 in this category.
In addition, Newport was named a Top 10 leader in several other categories, including:
- Non-Qualified Plans: Newport is the industry leader in offering unbundled non-qualified plan services through advisors, and it was ranked #2 for overall non-qualified assets and #2 for total non-qualified plan participants.
- 403(b) Plans: Newport continues to be a leading provider of 403(b) plans, ranking #3 for total ERISA plans, #4 for total non-ERISA plans, and #10 for total ERISA plan assets (the first time Newport has been in the Top 10 in this category).
“These rankings recognize Newport’s important position in the retirement services market, and further solidify its position as one of the largest independent recordkeepers working through financial advisors,” said Newport CEO Greg Tschider. “It also reflects more than just our growth – it reflects our commitment to our clients and retirement plan participants.”
Headquartered in Walnut Creek, California, Newport is a leading independent retirement services provider that helps employers—and the advisors who serve them—prepare employees for a more financially secure retirement. The company has more than $120 billion in retirement assets under administration and more than $265 billion in corporate retirement and insurance assets. Newport maintains investment objectivity, fee transparency and a commitment to flexible, responsive service. Staffed by an exceptional team of more than 1,350 retirement, insurance, and consulting professionals, the company provides retirement solutions tailored to the needs of employers of every size, from small businesses to the Fortune 1000.