Special Fiduciary Services

Protect Your Plan with Special Fiduciary Services by Newport Trust

When it comes to employee benefit plans, plan sponsors may need more than just recordkeeping—they need a partner to safeguard their plan and plan participants and help navigate fiduciary complexities. Our Special Fiduciary Services group at Newport Trust offer trusted solutions for independent fiduciary, fiduciary auditor, and institutional trustee services for plans.

Custom services to fit your needs

We offer a range of special fiduciary (also known as “independent fiduciary”) services available through Newport Trust, an Ascensus company, specifically designed to help clients achieve their financial and retirement goals while avoiding potential regulatory and investment pitfalls.

Plan fiduciaries must act prudently and with a high standard of care. In cases of conflict of interest or need for specialized expertise, they can delegate responsibilities to an independent fiduciary like Newport Trust, which has the ERISA expertise to handle various tasks, including litigation settlement reviews, service evaluations, benefits oversight, asset transactions, and compliance with prohibited transaction exemptions.

Investment firms must comply with complex ERISA rules related to self-dealing and prohibited transactions. Asset managers can address conflicts of interest by delegating fiduciary responsibilities and ensuring compliance through independent auditors. Newport Trust partners with both large and boutique investment managers for legal and regulatory compliance, covering various asset types on investment issues, as well as serving as a fiduciary independent auditor for investment managers.

Executives can receive deferred compensation and other benefits through nonqualified plans held in grantor (rabbi) trusts and secular trusts. As a state-chartered trust company, retained as directed or discretionary trustee on behalf of both qualified plans and nonqualified deferred compensation plans. Our expertise is recognized by asset managers, ERISA lawyers, and corporations for handling both complex and straightforward trusts*.

Retirement plans holding company stock offer tax-efficient savings for participants but pose unique challenges for corporate sponsors. Newport Trust helps 401(k) plan sponsors and committees mitigate risks and oversee company stock funds. We also evaluate in-kind contributions and employer securities for defined benefit plans and serve as independent fiduciaries or discretionary trustees for ESOPs.

Learn how our fiduciary expertise can support your needs.

Special Fiduciary Services you can trust

Special Fiduciary Services are provided by Newport Trust Company, LLC a market leader in the provision of these customized services for over 35 years. Newport Trust’s highly experienced team consists of in-house ERISA lawyers, financial analysts, relationship managers, and support professionals working to help clients develop and implement retirement and employee benefit solutions. Newport Trust has ongoing fiduciary responsibility for qualified and non-qualified employee benefit plans, including defined contribution plans, defined benefit pension plans, health and welfare plans, VEBAs, ESOPs, grantor (rabbi) trusts and secular trusts.

Disclaimer:

Newport Trust Company, a New Hampshire state-chartered trust company and wholly owned subsidiary of Newport Group, Inc. (“NGI”), provides independent fiduciary and trustee services for employee benefit plans. NGI, an Ascensus Company, and its affiliates provide recordkeeping, plan administration, trust and custody, consulting, fiduciary consulting, insurance and brokerage services.

Securities are offered through Ascensus Broker Dealer Services, LLC (“ABDS”), member FINRA/SIPC. Securities in California are offered under the d/b/a Ascensus Corporate Insurance Solutions. Other insurance products may be offered by NGI. For more information, please visit - www.ascensus.com 

Investment Advisory and fiduciary consulting services are offered through Newport Group Consulting, LLC, an SEC registered investment adviser and subsidiary of NGI. 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 at adviserinfo.sec.gov.

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