September 29, 2023


Future Depends on What You Do

Schwab Retirement Strategy Services Expands Described Profit and Deferred Compensation Approach Abilities Via Guidance Agreements With Conduent and Newport

WESTLAKE, Texas, July 26, 2023–(Company WIRE)–Schwab Retirement Plan Companies (SRPS) currently announced strategies to start an expanded set of capabilities to serve described benefit designs and nonqualified deferred compensation options. SRPS will operate with two recognized marketplace leaders to assist build out the presenting — Conduent Incorporated (Nasdaq: CNDT) in the outlined advantage location and Newport, an Ascensus company, in the deferred payment place. Both of those corporations have far more than 40 many years of working experience giving workplace benefit ideas.

SRPS will keep on to provide as the program company, offering plan companies and communications to contributors and main plan sponsor consumer interactions, with assistance from Conduent and Newport. Likewise, both participants and plan sponsors will keep on to accessibility their Schwab defined benefit and deferred compensation strategies right by means of SRPS internet sites, which will contain plan facts equipped by Conduent and Newport.

“Whilst we have presented defined reward and deferred compensation options for decades, our main concentration has been on servicing 401(k) options,” stated Ben Sheppard, Controlling Director, Schwab Retirement Approach Services. “As we proceed to improve industry share in the greater segments of the retirement prepare current market, we have an opportunity to serve the broader requirements of these customers. Just after thorough overview we decided we could ideal satisfy the complicated prepare demands of big organizations much more correctly and competently by leveraging the abilities of Conduent and Newport. As top providers, equally companies carry a prolonged-standing motivation to office financial positive aspects.”

“This collaboration provides collectively Conduent’s deep knowledge in pension administration with Schwab Retirement Prepare Services’ place of work fiscal gains know-how to provide substantial-quality products and services to outlined profit prepare purchasers,” reported John Larson, Vice President and Portfolio Leader at Conduent. “Outlined advantage programs are an crucial ingredient of an employee’s retirement approach. We attempt to decrease the complexity of these plans to make them straightforward for staff members to have an understanding of and for corporations to provide these valued rewards.”

“We’re proud to operate with Schwab Retirement Prepare Products and services and offer you Newport’s extremely highly regarded nonqualified deferred compensation experience and solutions to their clientele and contributors,” explained David Musto, President and CEO of Ascensus. “Newport provides additional than 40 years of knowledge in deferred compensation approach style and design and administrative solutions. That interprets into worthwhile standpoint and abilities for all the consumers and contributors we will jointly serve.”

Expanded Capabilities

SRPS will begin programs work with the two firms this year and provide increased plans to new purchasers in 2024. Present SRPS defined profit and deferred compensation program shoppers also will migrate to the improved SRPS featuring beginning in 2024. In addition, pros from Conduent and Newport will be offered to seek the advice of along with the SRPS assistance workforce to enable clientele improve prepare design and achieve their reward plan goals.

Pursuing implementation, SRPS will offer you described advantage system clientele, which include these with regular pension options as very well as dollars stability options, a established of expanded abilities, together with:

  • Information analytics, compliance and reporting resources for strategy sponsors

  • Professional aid for facts remediation and audit services and particular initiatives such as early retirement home windows and mergers and acquisitions

  • Interactive calculators to assistance contributors make conclusions about program possibilities and retirement preparedness

  • De-risking tactics like demonstrated pension possibility transfer, annuity conversion and term vested lump sum payment programs

  • Administration for frozen defined benefit programs

Similarly, SRPS will provide deferred payment prepare consumers a array of expanded abilities which includes:

  • Comprehensive finish-to-stop alternatives for NQ plan administration with robust possibility and Segment 409A compliance procedures

  • Prepare design, legal, tax and accounting means

  • Sturdy system sponsor working experience with considerable advertisement hoc reporting capabilities

  • In-depth strategy sponsor fiscal reporting

  • Regular monthly FICA reporting for employer contributions

  • Immediate participant payments and W-2 income statement providers

  • Complete asset legal responsibility administration

  • Improved prepare financing selections like firm-owned lifestyle insurance policy, organization stock and far more

“This integrated positive aspects delivery method is commonly approved in the substantial-program current market,” Sheppard stated. “We’re energized about this initiative and the option it signifies as aspect of our long-term commitment to serving workplace consumers.”

About Charles Schwab

At Charles Schwab we think in the electricity of investing to help persons create a much better tomorrow. We have a background of challenging the position quo in our marketplace, innovating in ways that benefit buyers and the advisors and businesses who serve them, and championing our clients’ objectives with passion and integrity.

Extra information and facts is accessible at Observe us on Twitter, Fb, YouTube and LinkedIn.

About Conduent

Conduent delivers digital business enterprise methods and expert services spanning the commercial, govt and transportation spectrum – generating remarkable results for its clientele and the tens of millions of people today who rely on them. By way of a focused global team of somewhere around 60,000 associates, course of action expertise, and superior technologies, Conduent’s answers and expert services digitally renovate its clients’ operations to greatly enhance customer encounters, improve efficiency, increase efficiencies and decrease expenditures. Conduent provides momentum to its clients’ missions in several means which include offering 43 percent of diet guidance payments in the U.S., enabling 1.3 billion customer company interactions on a yearly basis, empowering tens of millions of staff via HR products and services each and every yr and processing almost 12 million tolling transactions each and every working day. Discover far more at

About Newport, an Ascensus firm

Ascensus is a market-leading enabler of tax-advantaged price savings — offering technological know-how, services, and abilities that assist more than 15 million men and women help save for retirement, training, and health care.

The enterprise is a premier savings software support provider, 3rd-social gathering administrator, and governing administration discounts facilitator. Its platforms, marketplace knowledge, and details-primarily based insights improve the progress and achievement of its associates, their customers, and savers as a result of co-branded, private-labeled, and governmental partnerships.

Ascensus presents detailed skilled and nonqualified retirement system methods, third-occasion retirement plan administration, 529 education and Able cost savings plan administration, health and fitness price savings and COBRA administration, corporate- and financial institution-owned lifetime insurance plan solutions, and fiduciary and full benefits services.

The company’s manufacturers incorporate Ascensus Newport, an Ascensus enterprise PAi, an Ascensus firm and FuturePlan by Ascensus. Ascensus has more than $722 billion in belongings below administration and employs much more than 5,600 associates as of March 31, 2023.

For a lot more facts, go to Ascensus and Newport’s sites.


Schwab Retirement Strategy Services, Inc. and Charles Schwab & Co., Inc. are separate but affiliated businesses and subsidiaries of The Charles Schwab Corporation. Schwab Retirement Plan Providers, Inc. gives recordkeeping and linked services with regard to retirement options. Brokerage goods and services are made available by Charles Schwab & Co., Inc.

As a result of its functioning subsidiaries, The Charles Schwab Corporation (NYSE: SCHW) provides a whole array of securities brokerage, banking, cash administration and monetary advisory services to individual traders and unbiased expense advisors. Its broker-vendor subsidiary, Charles Schwab & Co., Inc. (member SIPC,, and affiliates offer you a total array of investment decision services and goods such as an comprehensive variety of mutual funds fiscal setting up and expenditure guidance retirement approach and fairness payment plan services compliance and trade checking options referrals to impartial rate-primarily based expenditure advisors and custodial, operational and investing guidance for unbiased, cost-based expenditure advisors as a result of Schwab Advisor Expert services. Its banking subsidiary, Charles Schwab Financial institution, SSB (member FDIC and an Equal Housing Loan company), supplies banking and lending services and products. Much more facts is accessible at and

Securities are provided by Newport Group Securities, Inc., a dually registered expenditure advisor and broker supplier, member FINRA and affiliate of Newport Team, Inc, an Ascensus Firm. Securities in California are provided by Newport Securities Insurance policies Companies. For more data on Newport Group Securities, Inc. or Newport Securities Insurance policies Providers and products and services provided, you should check out our website at or Financial commitment Advisory and fiduciary consulting expert services are presented by means of Newport Team Consulting, LLC, a registered expense adviser and subsidiary of Newport Group, Inc, an Ascensus Corporation. For a lot more information and facts about Newport Team Consulting and its companies, be sure to go to or refer to our Type ADV Portion 2, which is accessible by getting in touch with us at 407-333-2905, traveling to our web site, or


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Mike Peterson
Charles Schwab
[email protected]

Carly Taylor
The Neibart Group
[email protected]