We currently maintain relationships with 20 different service providers. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. DFA International Small Company Portfolio Institutional Class. Representative. Every plan needs a record keeping plan administrator and our team can work with any in the marketplace. Newport Capital Group works with 401 (k) clients of all sizes with the goal of ensuring their plans are running compliantly and cost-effectively. Click See More to generate a statement for a specific timeframe in the Statement on Demand section. Plan sponsors who choose to include a loan feature in their retirement plan must take care to ensure their loan program is operated in compliance with the tax rules and the plans loan policies to avoid unintended consequences for loan recipients and the plan. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Importantly, Newport Capital Groups approach to benchmarking helps our clients fulfill their fiduciary responsibility to controland account for plan expenses and both sponsor and participants services. Prior office experience within book publishing a plus, but not required to succeed as an Editorial Assistant. For Newport, your complaints would not be attended to on weekends. This allows many different types of plan qualification failures, including loan failures, to be corrected. Sure, they are sensitive to your desire to have an investment, and theyve got you covered on that. We also assist professionals, including auditors, attorneys, and third party administrators. 401(k) savers can contribute up to $22,500 in 2023. If the IRA holder turns 73 this year, he or she can defer the first distribution until April 1 of the next year. Generally, higher target returns carry greater risk. any investment. A password must contain 3 of the following types of characters: AN UPPER CASE LETTER Newport is a national retirement services provider that helps employers prepare employees for a more financially secure retirement. Contributing money to a 401 (k) gives you an immediate tax deduction and tax-deferred growth on your savings. Forgot Password? Serving as either a 3(21) and 3(38) fiduciary partner to the plan, Newport Capital Group will help ensure plan fees are reasonable, align the plan and companys goals through plan design optimization, establish and maintain a formal review process, and vet and monitor plan investments according to an investment policy statement. Newport Group. Newport Capital Group can serve as both an ERISA 3(21) and ERISA 3(38) Appointed Fiduciary. Yes, they are willing to provide you the service. 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. IRS website, 401(k) Plan Fix-It Guide Participant loans dont conform to the requirements of the plan document and IRC Section 72(p), February 7, 2019, https://www.irs.gov/retirement-plans/401k-plan-fix-it-guide-participant-loans-do-not-conform-to-the-requirements-of-the-plan-document-and-irc-section-72p Workers may be more likely to save for retirement in an employer sponsored plan if they know they can access their savings during their working years. Log in to your retirement account, choose Plans, then click Beneficiaries. Follow the prompts to set up the beneficiaries for your account. Most important, borrowing from your 401(k) can significantly reduce your retirement savings nest egg. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. We offer not just 401 (k) plans, but a full-range of retirement solutions : Full-Service Defined Contribution Plans Our 401 (k), 403 (b) and 457 plan solutions allows you to select from virtually all publicly available mutual funds to create a customized line-up of the best funds. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. First name. Representatives are available Monday through Friday, 8 a.m. to 8 p.m. Please update your bookmarks accordingly. All processes are made easy for you. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), Why Participate in Your Employer's Retirement Plan, Help Keep Your Retirement Account Cyber Secure, Things to Consider as You Near Retirement, The Importance of Saving Early for Retirement, Insurance Company-Owned Life Insurance (ICOLI). . Newport response. You quit in 2022 at age 40 and the plan year ends December 31. By Fred . In conjunction with you and your service provider, Newport Capital Group will help develop a detailed and comprehensive Education Policy Statement (EPS) based on actual plan data and demographics. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Our mission is to help plan sponsors fulfill their fiduciary responsibilities under ERISA. Its easy to change your password online. Independent recordkeeping giant Ascensus will merge with Newport Group, the companies said Wednesday. We will provide ongoing fiduciary educational support to help make sure that each retirement plan committee member understands their fiduciary roles and responsibilities. Newport Group Login In observance of President's Day, U.S. financial markets will be closed Monday, February 20, 2023. Newport Group's mobile app provides participants with fast, easy access to their accounts. . Sometimes, you might want to roll your money from one retirement plan to another plan. Workers may be more likely to save for . You sure dont want to look away. For information specific to your account, or to check the status of a pending request, please call (888) 401-5629. Many 401(k) plans allow you to borrow from your account balance, letting you repay the loan through automatic, after-tax payroll deductions. One magic that sweeps you off your feet with the Newport 401 (k) is that they offer a balanced service, to both the employer and the employee. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Newport Capital Group believes the selection of the Plans investment options to be among investment fiduciaries most important responsibilities. Maintains room quality and amenities based on hotel objectives and policy . A Plan Sponsors Duty to Search for Missing Participants, Understanding What Employees Value Most Is Key to Competing, Tax and Other Incentives to Inspire Prospective Plan Sponsors, Insurance Company-Owned Life Insurance (ICOLI), written loan agreement between the plan and the participant, loan repayments in substantially level payments at least quarterly, five-year maximum repayment period (unless loan is used to purchase a primary residence), loan amount does not exceed 50% of the participants vested account balance, or $50,000, whichever amount is less; the maximum loan amount must be further reduced if the participant had any outstanding loans within 12 months prior to the loan, a system for determining the participants maximum loan amount during the loan approval process (must consider plan terms, the participants account balance and prior loan history), procedures for monitoring loan repayments to ensure that the withheld amounts are properly determined and deposited to the plan timely, a process for tracking the cure period for participants who are in default. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. Were redirecting you to the most relevant section of NewportGroup.com. If the holder is older, he or she would normally be required to take an RMD before December 31 of this year. For informational use only. You can specify beneficiary information, such as your relationship to the person, and the percentage of assets for the primary beneficiary(s). Newport Group. However, effective April 19, 2019, certain plan loan failures may now be corrected under the Self-Correction Program of EPCRS without contacting the IRS or paying a user fee. The company has more than $300 billion in corporate retirement and insurance assets, encompassing over one million plan participants across the United States. Also, they help you make informed choices by providing experts that can provide you with all the necessary details of the plans you are choosing from. La Crosse, WI 54603-3404. Multiple employer plans (MEPs) and multiple employer aggregation programs (MEAPs) are group 401(k) solutions that can help small businesses reap the benefits of offering a retirement plan without owning all of the plan's responsibilities. We want to be your first call. On various platforms, they have ready answers to questions they have foreseen you may likely have. International Large Cap - Growth. Many retirement plans allow you to borrow from your account balance, letting you repay the loan through automatic, after-tax payroll deductions. Newport Account Service Representative Arizona 9d Newport Account Services Representative 0.12%. Why Participate in Your Employer's Retirement Plan, Help Keep Your Retirement Account Cyber Secure, Things to Consider as You Near Retirement, The Importance of Saving Early for Retirement. Copyright 2009-2023 ACM MEDIA LLC. call the Participant Service Center at844-749-9981. All trade requests received after the trade cut-off on Friday, February 17, 2023 will be processed on Tuesday, February 21, 2023. The first time you log in, youll be asked to take a few actions to help keep your account safe and secure. We retain full discretionary authority to select appropriate investment options according to the Investment Policy Statement. Plan sponsors have a fiduciary duty to ensure their employees are not overpaying for the retirement plans administrative services or the underlying investment options. With the Newport Group, you are less bothered they will take drastic decisions you might consider inconvenient. You'll feel a greater sense of purpose and enjoy a more fulfilling life. ET. Log in to your retirement account and select Statements. Cant find the statement youre looking for? Fiduciaries are required to avoid conflicts of interest and must place the interest of the beneficiary ahead of their own. Likewise, you can easily roll over your Newport group retirement account to an IRA or another retirement plan that is qualified. Participant Login FAQ Get up to $4,000 cash bonus + $200 in ACAT rebate! They must be completed no later than 2033. Now, they may decide at times to decline your emergency funds or loan requests, notwithstanding the purpose for which those funds are needed. call the Participant Service Center at844-749-9981. This is called collaborative access. DRESHER, Pa., Nov. 3, 2021 /PRNewswire/ -- Ascensus, whose technology and expertise help millions of people save for retirement, education, and healthcare, announced that it has entered into a. Plan loans are a popular feature of 401(k) and other retirement plans. After determining the investment categories to be used, Newport Capital will choose specific investment options for each of those categories based on a combination of quantitative and qualitative factors. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), Learn more about full-service defined contribution plans, Learn more about retirement plan trustee services, Click here to start the conversation with Newport, Insurance Company-Owned Life Insurance (ICOLI). Plan loans are a popular feature of 401(k) and other retirement plans. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. This is why Newport Capital Group undertakes an extremely comprehensive and thorough benchmarking process on behalf of our clients. ACM MEDIA LLC publishes content for educational purposes only, does not offer Currently, Buffalo Rock Company matches 20% of the first 6% you contribute. Thus, you can rest assured we are giving you a balanced view here. You can learn more about the pros and cons borrowing from your 401(k) here. In observance of President's Day, U.S. financial markets will be closed Monday, February 20, 2023. Many 401(k) loans charge one to two points above the prime interest rate. 20190620-877809-2649587, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Youll learn how you can enhance your hiring and retention strategies. Please update your bookmarks accordingly. The Newport Group acknowledges that cost is one of the many things that businesses consider before subscribing to a service provider. We work with the plan sponsor to follow a due diligence process, including the adoption and implementation of an Investment Policy Statement to formalize that process. 2022 Newport Capital Group , LLC. Newport Capital Group credits its flexibility to our independence; No fee or revenue sharearrangements exist to jeopardizeour judgment or potentially create a conflict of interest to sway our impartiality. personalized financial advice, and does not recommend the purchase or sale of This is just one of over 100 useful topics you can access in your Financial Wellness Center. Full-Time. Its one of the juiciest plans around. Hope to see this as a good point for money tracking, but well see. This means you might have a medical emergency and want to loan from your 401(k) plan, yet your loan may be declined. Newport Capital Group will negotiate on behalf of the committee with service providers to remedy fees and services that are not competitive. A 401 (k) plan may allow plan participants (including business owners) to take loans from their vested plan assets. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Newport Healthcare provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color . Thinking of taking a loan from your 401(k) plan? The Newport Group got you covered on that one also. Newport Capital Group will coordinate the enrollment and education meetings with the providers, and document all education offerings in the plans fiduciary file. The fiduciary must make prudent and informed decisions based on all available and material information, acting first and foremost on behalf of the beneficiary. Most importantly, we will review the success of the education offerings with the service provider and the committee through reporting. . Both the employer and the employee have access to the retirement plan, which ensures transparency in the delivery of service. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. . Aya Healthcare has an immediate opening for the following position: Medical Surgical - Neuro RN in Newport News, VA. . You should consult your own tax, legal and accounting advisors before making any decisions. 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. While setting up a plan can be fairly straightforward, maintaining best practices is not. We help mitigate your fiduciary liability. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. The U.S. financial markets will reopen on Tuesday, February 21, 2023. When you face difficulties in accessing their services, the Newport Group provides fast response modules to hear you out and proffer solutions to your demands. Proc. Features of the NEWPORT GROUP, INC. 401(K) PLAN may include: This Plan is a "Profit-Sharing Plan", where employer contributions are variable and are based upon a portion of company profits based upon quarterly or annual earnings. With the realization that retirement could be a nightmare to an employee, the Newport Group has stuck its head out to provide the best retirement plans for the employees of their clients. Enroll in Your Plan, For account questions or help logging in, RMDs are considered taxable income for the year in which they are taken. We may be compensated by the businesses we review. Enroll in Your Plan, For account questions or help logging in, Withdrawal options include standard 401(k) loans and hardship withdrawals along with several other options. Where can I see my retirement account balance? Likewise, a highly knowledgeable account manager follows up on your retirement plan, ensuring that every aspect of your plan is well covered and documented. Your 401(K) has you covered. Newport Group's compensation does not increase or decrease as a result of the investment decisions made by the sponsor or plan participants. loans are administered in compliance with the tax laws and the plan's loan policy. . Participant Login FAQ You choose where your money goes and how much you'll contribute . All trade requests received after the trade cut-off on Friday, February 17, 2023 will be processed on Tuesday, February 21, 2023. If you are no longer working for your employer, call our Participant Service Center at 844-749-9981.. The loan service affords 50% or an amount not exceeding $50,000. Remember, even if you are no longer working for the company that sponsors your retirement plan, you are still able to access your retirement account online. , LLC, a registered investment adviser select Statements including business owners ) to a. The Newport Group, you are no longer working for your employer, call our participant Center. Few actions to help make sure that each retirement plan, which ensures in... April 1 of the committee through reporting $ 22,500 in 2023 this is why Newport Capital Group will negotiate behalf. The tax laws and the plan year ends December 31 of this year employees are not overpaying the! The providers, and third party administrators that each retirement plan committee member understands their fiduciary under. Your account, or to check the status of a pending request, please call 888. ) here or she can defer the first time you log in your. 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