Thanks to recent legislation, a PEP is a new kind of 401(k) plan with many advantages for employers both big and small. In the Newport Secure Retirement Pooled Employer Plan* (PEP), employers “pool together” to provide an affordable benefit to their employees without the administrative hassles of running a single-employer retirement plan.
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 as one of the nation’s largest defined contribution recordkeepers: 2
in 403(b) ERISA and non-ERISA plans
in total 403(b) ERISA plan assets
in plans serviced between $10 million to $100 million