Ascensus and Newport are both respected leaders in the marketplaceand well-known for service excellence, deep expertise, investment independence, and purpose-built technology, said Musto. call the Participant Service Center at844-749-9981, This on-demand webinar is focused on key levers for retaining talent in todays complex environment. Under Greg's leadership, Newport has grown to a national full-service retirement provider servicing more than $265 billion of corporate retirement and insurance assets and 1.4 million plan participants. WALNUT CREEK, CA, June 8, 2018 -- Newport Group, a leading provider of retirement plans, insurance, and consulting services, announced today that the company has reached an agreement with the private equity firm Kelso & Company (Kelso). Ascensus gobbles up Newport. NEWPORT GROUP, INC. is a Texas Foreign For-Profit Corporation filed on December 14, 2015. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. According to a press release, the newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company, while Greg Tschider has stepped down as CEO of Newport. The current wave of recordkeeper consolidation continues, with the Nov. 3 announcement that Ascensus has entered into a definitive agreement under which Newport Group will merge with the firm.. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company, while Greg Tschider has stepped down as CEO of Newport. The transaction is expected to close in the first quarter of 2022, subject to receipt of regulatory approvals, including review and non-objection by the South Dakota Division of Banking and review and approval by the New Hampshire Banking Department, and satisfaction of other customary closing conditions. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. The company's filing status is listed as Active and its File Number is 3307407. This site is designed for U.S. residents only. We answer some of the most common questions non-qualified plan sponsors may be receiving in light of the novel coronavirus. Participant Login FAQ Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. Greg Tschider - Ceo - Newport Group - email id & phone of top management contacts like Founder, CEO, CFO, CMO, CTO, Marketing or HR or Finance head. 702 King Farm Boulevard, Suite 400, Rockville, MD 20850 / +1 212-944-4455 /. After the acquisition, Greg Tschider, CEO of Verisight, will be chief executive of the qualified retirement plan services business, and Newport CEO Peter Cahall, will be chief executive of the . ET. Were redirecting you to the most relevant section of NewportGroup.com. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser. The transaction is expected to close in the first quarter of 2022, subject to receipt of regulatory approvals, including review and non-objection by the South Dakota Division of Banking and review and approval by the New Hampshire Banking Department, and satisfaction of other customary closing conditions. Size. and the Ascensus logo are trademarks of Ascensus, LLC. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing, according to the announcement. Industry. Similarly, Newports clients will benefit from greater access to unique tax-advantaged savings solutions across retirement, education and health provided by Ascensus. Newport Group was founded in 1985 and its current CEO is Greg Tschider. Acquisition of Evercore Trust Companys institutional trust and independent fiduciary business, now part of Newport Trust Company. To ensure continuity of leadership, operations, and client service through closing, Laura Ramanis who has served as Newport's chief operating officer since 2014has been named interim CEO. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer (COO) since 2014has been named interim CEO. NEWPORT GROUP, INC. is a California Stock Corporation - Out Of State - Stock filed on May 14, 2010. As a provider and partner, Newport is independent, experienced and responsive. During his tenure, AST grew into one of the leading independent trust companies in the country. The recent ruling by the circuit judge on the burden of proof is deeply concerning and highlights Subject, of course, to the preservation of capital rule. The Registered Agent on file for this company is Corporation Service Company Which Will Do Business IN California As Csc - Lawyers Incorporating Serv and is located at 2710 Gateway Oaks Dr Ste 150n, Sacramento, CA 95833. Please update your bookmarks accordingly. Key Principal: Greg W Tschider See more contacts Industry: Pension and retirement plan consultants. Pensions are not only paid for by private employers. Because we remain independent, Newport Group has no incentive to market specific investment products to a client, and . Terms of the deal were not disclosed. With the merger, Ascensus-administered assets under administration (AUA) will increase to more than $700 billion, including $184 billion in government savings accounts. But employers that lose contact with participants who maintain a balance in the companys retirement plan risk breaching their fiduciary duties and jeopardizing the tax-qualified status of their plan. With . With Newports business, Ascensus will also see an expanded tax-advantaged savings participant base, which will now reach more than 15 million people across the United States. We expect the service platform investment, product expansion, and enhanced capabilities our union will deliver to be well-received by our collective clients. Together with its affiliate, Verisight, Inc., the firm has approximately 1,000 associates across the nation, more than 9,500 plans with over 975,000 plan participants, and services more than $120. This site is designed for U.S. residents only. Wendy Cantey has been working as a Senior Vice President of Strategic Initiatives and the Enterprise Project Management Office, Technol for Newport Group for 1034 . The firms hope to be operating as one team by next spring.. The wonderful folks at Newport Group, a leading provider of retirement plans, insurance and consulting services, have been working with Shoes That Fit since 2012. As one company, well deliver so much more than the sum of our capabilitiesand set a new performance standard for service excellence and client satisfaction in the markets we serve. Above it says due to getting pension that SS was not collected on will have to adjust. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Jacqueline Ward. Walnut Creek, CAMay 6, 2019 Newport Group, a leading independent retirement services provider, announced today that it has completed its acquisition of the Vested Interest defined contribution plan recordkeeping business of PNC Bank. Joining with Ascensus provides additional resources to continue the expansion of services, and I am excited to see the new ways that our combined associate teams will work together for our clients., Noting the significant opportunities to capitalize on the strengths of both companies, Musto said, Ultimately, the talent and extensive experience of our organizations are the most valuable assets our companies bring to this combination. The newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisors, and savers. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing, according to the announcement. 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Retirement plan participants can call Newports Participant Service Center at 844-749-9981, Monday through Friday, 8 a.m. to 8 p.m. In addition, the companies respective investments in technology, digital capabilities, and analytics will deliver enhanced value to clients, expand client relationships, and create better outcomes for savers. Please update your bookmarks accordingly. Privacy PolicyTerms of UseCopyright. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. According to ZoomInfo records, Greg Tschider's professional experience began in 2003. call the Participant Service Center at844-749-9981, Managing Challenges for Non-Qualified Plans Related to Coronavirus You can read Newports comprehensive analysis of this important legislation here. The newly combined organization will offer a broader set of capabilities and products to benefit institutional partners, clients, advisers and retirement savers, the firm says. Musk Made a Mess at Twitter. Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business. . Terms of the deal were not disclosed. This site is designed for U.S. residents only. Newport Group acquires Kidder Benefits Consultants, and its affiliate Kidder-Lane Actuarial Services. With so much news and real time information readily at hand, it can be difficult for anyone to process what is relevant and critical for making prudent financial decisions. Greg Tschider has stepped down as CEO of Walnut Creek, California-based Newport, and Laura Ramanis, its chief operating officer, will serve as interim CEO until the close of the transaction, the . Martha has been working as a Assistant Vice President, Relationship Management for Newport Group for 1977 days. The Newport Group, DailyAccess, and Verisight rebrand as one retirement, insurance and consulting services provider: Newport. To ensure continuity of leadership, operations, and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer since 2014has been named interim CEO. Newport Group achieves a major milestone: providing service to more than one million retirement and benefit plan participants. Edit Contacts Section. Participant Login FAQ According to the announcement, the combination will: Evercore acted as exclusive financial advisor to Newport in connection with the transaction. Copyright 2023 Asset International, Inc. All Rights Reserved. Greg Tschider is the Chief Executive Officer at Newport Group. About AscensusAscensus helps millions of people save for what mattersretirement, education, and healthcare. 1985. Specifically that with their qualified and non-qualified retirement plan services, fiduciary consulting services, and corporate and bank-owned life insurance practices, Newport will expand the solutions and expertise Ascensus provides to its clients and advisor partners, while Newports clients will gain greater access to unique tax-advantaged savings solutions across retirement, education and health. This Supreme Court Case Could Redefine Crime, YellowstoneBackers Wanted to Cash OutThen the Streaming Bubble Burst, How Countries Leading on Early Years of Child Care Get It Right, Female Execs Are Exhausted, Frustrated and Heading for the Exits, More Iranian Schoolgirls Sickened in Suspected Poisoning Wave, No Major Offer Expected on Childcare in UK Budget, China Gives New Backing to Coal Even as Clean Energy Accelerates, Oil Investors Get $128 Billion Handout as Doubts Grow About Fossil Fuels, This Former Factory Is Now New Taipeis Edgiest Project, What Do You Want to See in a Covid Memorial? But employers that lose contact with participants who maintain a balance in the companys retirement plan risk breaching their fiduciary duties and jeopardizing the tax-qualified status of their plan. Acquired Clark Consulting's operations, making us a leading provider of bank-owned life insurance (BOLI). Type. And the decisions they make have huge consequences, not just for the bottom line, but for communities, cities, even entire countries. Greg Tschider 98 Ratings 5.0 Current Employee, more than 8 years "Great place to grow your career" Dec 6, 2022 - Vice President Recommends Positive Outlook Approves of CEO Pros Career growth is encouraged and supported Cons None that I am aware of. It takes less than ten minutes to set up your company page. Greg Tschider has stepped down as CEO of Newport. Ugift is a registered service mark. The Registered Agent on file for this company is CT Corporation and is located at 124 W Capitol Ave Ste 1400 124 W Capitol Ave Ste 1400, Little Rock, AR 72201. Plan Sponsor Liability and Fiduciary Responsibilities in Light of COVID-19 Company Description We are a leading provider of retirement plans, insurance, and consulting services. According to LinkedIn Wendy Cantey started working on 1989, then the employee has changed 6 companies and 13 jobs. COPYRIGHT 2023BY ASPPA. We look forward to working with Laura Ramanis and her leadership team to unify our organizations in the months ahead and are eager to be operating as one team by next spring., Strategically Compelling CombinationMarket Strengths. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newport's chief operating officer since 2014has been named interim CEO. Work Experience Chief Executive Officer Newport 2009-2021 President Wilmington Trust 2008-2008 President Institutional Services 2008-2008 President AST Trust 2003-2008 Education Doctor of Law EVP, Client Services. General FAQ Ratings from the Employees at Newport Group's Headquarters Newport maintains investment objectivity, fee transparency and a commitment to flexible, responsive service. Please update your bookmarks accordingly. Will His AI Plans Be Any Different? The materials contained herein are intended for instruction only and are not a substitute for professional advice. The transaction is expected to close in the first quarter of 2022, subject to receipt of regulatory approvals, including review and non-objection by the South Dakota Division of Banking and review and approval by the New Hampshire Banking Department, and satisfaction of other customary closing conditions. Successful organizations have evaluated the competitiveness of their compensation programs, retirement plans, and employee benefits portfolio to effectively compete for and retain the talent that drives success. Ramanis and Laning will join the Ascensus executive leadership team and remain with the unified company post-closing. Our online Knowledge Center is continually updated with the latest news and information relevant to our clients and retirement plan participants. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company, while Greg Tschider has stepped down as CEO of Newport. Depending on your interaction with Ascensus, other privacy policies may apply in addition to this Policy. David Musto, president and CEO of Ascensus, will serve as CEO of the combined company. Website. With qualified and nonqualified retirement plan services, fiduciary consulting services and corporate- and bank-owned life insurance (COLI and BOLI) practices, Newport will expand the solutions and expertise Ascensus provides to its clients and adviser partners. GREG TSCHIDER, president; GREG TSCHIDER, chief executive officer; KURT LANTING, vice president; LAURA RAMANIS, chief operating officer; Newport Group Chief Executive Officer Education Greg Tschider studied at University of Wisconsin-Madison. She will be supported by Kurt Laning, executive vice president, Non-Qualified and Insurance Solutions, along with Newports senior management team. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. "This transaction is a strategic fit for our company. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, This Week in Crypto: Ukraine War, Marathon Digital, FTX. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. 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. In addition, the companies both invest in technology and offer digital capabilities and analytics. Participant Login FAQ Greg Tschider 70% approve of Greg Tschider 's performance Founded 1985 Company size 1001 to 5,000 Revenue $25M to $100M (USD) Industry Financial Transaction Processing Headquarters Walnut Creek, CA Link Newport Retirement Services website Opens in a new window Learn more Salaries David Musto, president and CEO of Ascensus, will serve as CEO of the combined company, while Greg Tschider has stepped down as CEO of Newport. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. The CARES Act Effect on Retirement Plans: Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. We expect the service platform investment, product expansion, and enhanced capabilities our union will deliver to be well-received by our collective clients. Newport Group has entered into a definitive agreement with PNC Bank to acquire its Vested Interest recordkeeping business. Learn how to leverage transparent company data at scale. 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 . As a combined company, well be able to even further advance our mission of helping individuals save for what matters., Musto added, I want to commend Greg Tschider and his team for their leadership and success in building a strong, highly respected, and winning company in our industry., This is a tremendous opportunity for our two companies and our people, said Ramanis. " PNC Bank is one of the largest and most-respected brands in the banking industry," said Newport Group Chief Executive Officer Greg Tschider. As a provider and partner, Newport is independent, experienced and responsive. Advisors and plan sponsor clients who have specific questions related to The CARES Act or how coronavirus is impacting benefit plans can contact us at coronavirusquestions@newportgroup.com. Non-Qualified Plans and the Coronavirus Scott Pollack is Executive Vice President at Newport. Our union confirms the hard work of our dedicated employees and partners. Greg Tschider. Above it says due to getting pension that SS was not collected on will have to adjust. Copyright 2015-2023 Newport Group, Inc. All rights reserved.Unauthorized access is prohibited. Exclusive Hauser Clip, Retiree Health Care Cost Estimates Still Induce Sticker Shock, 401(k)s Increasingly Under Attack in Wake of SECURE 2.0 Passage, Record Increases Forecast for 2023 Contribution and Benefit Limits, Record Increases Projected for 2023 Retirement Plan Limits, Limits on Wealthy Retirement Accounts Not in Inflation Reduction Act, A Fresh Look at Those the WEP Affects, Proposals to Change it, Retirement Savers Withstand 2022 Rollercoaster as Balances Rebound, Good News in PBGC Pension Insurance Data Tables. Knowledge Center The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. Were redirecting you to the most relevant section of NewportGroup.com. Greg Tschider, who led Newport's successful growth strategy, has stepped down as CEO of Newport. "People Matter. In todays highly competitive labor market coupled with high inflation and global issues, employers continue to find it more challenging to compete for talent. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Moreover, the firms say that the companies respective investments in technology, digital capabilities, and analytics will deliver enhanced value to clients, expand client relationships, and create better outcomes for savers., Ascensus and Newport are both respected leaders in the marketplaceand well-known for service excellence, deep expertise, investment independence, and purpose-built technology, said Musto. Newport Group, Inc. and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), An Update on Our Unification with Ascensus, Newport Awarded Best in Class Honors in 2021 PLANSPONSOR Defined Contribution Survey, Newport Websites Ranked Again Among Best in Industry, Ascensus and Newport to Combine and Create a Leading Provider in Tax-Advantaged Savings, Insurance Company-Owned Life Insurance (ICOLI). Newport's experts provideda comprehensive review of this unprecedented legislation and how it impacts the day-to-day operations of retirement plans. To ensure continuity of leadership, operations, and client service through closing, Laura Ramaniswho has served as Newports chief operating officer since 2014has been named interim CEO. Exclusive Hauser Clip, Retiree Health Care Cost Estimates Still Induce Sticker Shock, 401(k)s Increasingly Under Attack in Wake of SECURE 2.0 Passage, Record Increases Forecast for 2023 Contribution and Benefit Limits, Record Increases Projected for 2023 Retirement Plan Limits, Limits on Wealthy Retirement Accounts Not in Inflation Reduction Act, A Fresh Look at Those the WEP Affects, Proposals to Change it, Retirement Savers Withstand 2022 Rollercoaster as Balances Rebound, Good News in PBGC Pension Insurance Data Tables. Greg Tschider and the Newport Group leadership team are scored a B- by 9 employees placing it in the Top 40% of companies sized 1,001-5,000 Employees on Comparably. Securities are offered through Newport Group Securities, Inc., a dually-registered investment advisor and broker dealer, member FINRA. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Newport Group Consulting, LLC, Newport Group Securities, Inc., and Newport Trust Company are subsidiaries of Newport Group, Inc., an Ascensus Company. Our union confirms the hard work of our dedicated employees and partners. Successful organizations have evaluated the competitiveness of their compensation programs, retirement plans, and employee benefits portfolio to effectively compete for and retain the talent that drives success. Newport Group has 1 current employee profile, Chief Executive Officer Greg Tschider. She will be supported by Kurt Laning, executive vice president, Non-Qualified and Insurance Solutions, along with Newports senior management team. General FAQ Join the conversation on Finance 3m a Commercial Customer Service Representative What's the best way to have a lack of compensation and incentive conversation in your department? View Andre Mintz. Annual Revenue $25-100M Agree? Terms of the transaction were not disclosed. 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. Enroll in Your Plan, For account questions or help logging in, Greg Tschider, who led Newports successful growth strategy, has stepped down as CEO of Newport. Through co-branded, private-labeled, and other governmental partnerships, our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Committed financing for the transaction has been provided by Goldman Sachs Bank USA, SPC Financing Company LLC, and KKR Capital Markets LLC. Most people dont plan to stay in touch with their former employer after they change jobs or retire. Greg Tschider 98 Ratings Your trust is our top concern, so companies can't alter or remove reviews. This webinar provided insight onthe unique economic impact that the coronavirus pandemic has had on non-qualified executive benefit plans. "PNC Bank is one of the largest and most-respected brands in the banking industry," says Greg Tschider, CEO of Newport Group. In this role, he leads the company's qualified retirement client service teams. The Registered Agent on file for this company is Corporation Service Company D/B/A Csc-Lawyers Incorporationg Service Company and is located at 211 E. 7th Street, Suite 620, Austin, TX 78701-3218. On average, Martha works for one company for 9 years 9 months. "This transaction is a strategic fit for our company. Newport Trust Company is a New Hampshire state-chartered trust company Newport Trust Company provides independent fiduciary and trustee services for employee benefit plans. Expanded tax-advantaged savings participant base of more than 15 million people across the U.S. Increase of Ascensus-administered assets under administration to more than $700 billion when combined with Newports business*, Diversified client base, including more than 150,000 retirement plans, Management of an industry-leading $184 billion in government savings accounts (including 529 plans, ABLE savings accounts, and state-facilitated retirement programs), more than 700,000 health and flexible savings and COBRA accounts, nearly 300,000 COLI/BOLI policies, and more than 140,000 non-qualified retirement plan participant accounts*, Broader set of products and solutions delivering enhanced value to new and existing clients, Increased investment in technology and digital solutions designed to enhance partner efficiency and drive saver outcomes, Experienced leadership teams with outstanding track records across both organizations, Continued commitment to service excellence and client satisfaction offers opportunity to build on world-class NPS scores to set a new performance standard in markets served, Increased size and reach of sales and distribution channel relationships supporting partner growth, Depth and breadth of our combined expertise, including retirement, compliance, actuarial, non-qualified, insurance, and fiduciary services, represents a significant value-add for our clients, New and expanded career path opportunities for Ascensus and Newport associates resulting from the combination of two great companies focused on long-term growth, Increased ability to attract, retain, and develop top talent, Continued commitment to a diverse and inclusive work environment where every associate feels welcome, valued, and safe, and enjoys a sense of belonging, A common heritage of integrity and independence, coupled with the resourcefulness and speed of a market innovator. To ensure continuity of leadership, operations and client service through closing, Laura Ramaniswho has served as Newports chief operating officer since 2014has been named interim CEO. Staffed by an exceptional team of nearly 1,500 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. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), An Update on Our Unification with Ascensus, Newport Awarded Best in Class Honors in 2021 PLANSPONSOR Defined Contribution Survey, Newport Websites Ranked Again Among Best in Industry, Ascensus and Newport to Combine and Create a Leading Provider in Tax-Advantaged Savings, Insurance Company-Owned Life Insurance (ICOLI). You may also contact your home states 529 plan(s), or any other 529 plan, to learn more about those plans features, benefits and limitations. 1 email found 3 phone numbers found . Terms of the deal were not disclosed.PNC Bank is one of the largest and most-respected brands in the banking industry, says Greg Tschider, CEO of Newport Group. Deferred Compensation and Executive Benefit Plans, Insurance Company-Owned Life Insurance (iCOLI), Insurance Company-Owned Life Insurance (ICOLI).