Thanks to the 2019 Setting Every Community Up for Retirement Enhancement (SECURE) Act, Pooled Employer Plans (PEP) were introduced as a type of 401(k) plan in which multiple unrelated employers -- particularly smaller and mid-sized companies -- can participant with many advantages. In the Newport Secure Retirement Pooled Employer Plan*, employers “pool together” to provide an affordable benefit to their employees without the administrative hassles of running a single-employer retirement plan.
It doesn’t matter if these employers are in the same industry or geographic area, they can all join in the plan together—and enjoy a high level of services and efficiencies similar to those of plans offered by the largest companies in the country.
Newport Secure Retirement is a turnkey retirement plan solution for employers who may be looking to outsource responsibilities such as the burden of daily operations, fiduciary risk, liabilities and other obligations. When you join the plan, you hand many of those accountabilities to Newport—allowing you to focus on what matters most for your business.
As a leading retirement plan provider you can count on a dedicated and experienced team with deep knowledge of the industry to take the burden of running a retirement plan off your shoulders. As a Department of Labor (DOL) registered Pooled Plan Provider, Newport offers a fully turnkey, integrated end-to-end solution that encompasses all of the services needed to manage and operate the PEP. We take on many of the fiduciary risks and we manage the work for you:
Your fiduciary liabilities are lessened as Newport’s ERISA experts assume responsibility for many fiduciary functions and serve as the PEP’s 402(a) Named Fiduciary, 3(16) Administrative Fiduciary and 3(38) Investment Fiduciary.
Newport Trust Company performs all required trustee functions for the PEP. Newport’s recordkeeping platform is fully integrated with our custodian platform, ensuring integrity of data and eliminating reporting delays.
Newport is an award-winning recordkeeping and administration provider, serving over 1.5M participants. We operate the Newport Secure Retirement PEP on our primary recordkeeping platform, ensuring that the plan takes advantage of the latest features.
Newport is dedicated to providing you and your employees with expert, high-quality and responsive services along with the tools you need to adopt the PEP. This commitment begins with establishing a foundation with dedicated, experienced support including assigned on-boarding and service teams.
The success of the Newport Secure Retirement PEP starts with the participant. Our award-winning communications and education empower employees to feel financially secure in building a better retirement.
Newport provides information and reporting to make it easy for your advisor or any advisor you might wish to utilize to support you as you offer the Newport Secure Retirement PEP to your employees.
Recognized and highly rated as one of the nation’s largest defined contribution recordkeepers: 2
Ranked #1
for new defined contribution plans added in 2020
Ranked #5
in 403(b) ERISA and non-ERISA plans
Ranked #10
for 401(k) plans with less than $10 million in assets
Sources: 1. PLANSPONSOR magazine’s 2021 Defined Contribution Survey. 2. PLANSPONSOR magazine's 2021 Recordkeeping Survey.
*Registered as the Newport Secure Retirement Pooled Employer Plan with the Department of Labor.
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Newport Group, Inc., an Ascensus Company, and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services. Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, a registered investment adviser and subsidiary of Newport Group, Inc., an Ascensus Company. For more information about Newport Group Consulting and its services, please visit newportgroup.com or refer to our Form ADV Part 2, which is available by contacting us at 407-333-2905, visiting our website www.newportgroup.com or adviserinfo.sec.gov 20220330-2089981
Newport Group, Inc. is a registered Pooled Plan Provider offering professionally-managed Pooled Employer Plans (PEPs). More information regarding Newport's registration and available plans can be found using the search function at www.efast.dol.gov.
INTENDED FOR EMPLOYER AND INSTITUTIONAL USE.