401(k) Plans have surpassed Defined Benefit pension plans as America’s primary retirement vehicle. Companies understand their 401(k) plans are not only a recruiting tool but a critical component to their employees’ overall compensation and benefit packages. While setting up a plan can be fairly straightforward, maintaining best practices is not.
Serving as a fiduciary partner to the plan, Newport Capital Group will help ensure plan fees are reasonable, align the plan and company’s goals through plan design optimization, establish and maintain a formal review process, and vet and monitor plan investments according to an investment policy statement.
When it comes to the employee experience, only a well-planned, targeted and comprehensive education program will ensure plan participants have enough information to make informed investment decisions as they save. Newport Capital Group collaborates directly with many of the industry’s most recognized record-keeping service providers to maximize performance of their tools, platforms and trained educators.
We have experience working with veteran committees, trustees and boards and we are also capable of helping to formalize a company’s first committee. Decision makers turn to us when they lack the internal personnel, do not have the necessary expertise, or are interested in sharing the heavy load of 401(k) fiduciary liability with a committed partner. Newport Capital Group works with 401(k) clients of all sizes to ensure their plans are running compliantly and cost-effectively.