Newport Launches Executive Benefits Benchmarking Tool

The Newport Group introduced a Focus on Total Rewards benchmarking analysis, which provides comprehensive intelligence about executive benefits.

Available exclusively to Newport clients and intermediary partners, the service helps companies create effective reward, retention and retirement strategies, the firm announced.

Newport’s proprietary Focus on Total Rewards report identifies an array of insights: the types of executive benefit plan features offered, eligibility requirements, plan participation statistics, deferral sources, vesting, distribution options, and funding alternatives—as well as the prevalence of these features among their peer companies. It also shows the competitive economic value of these benefits across peer groups.  

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The information in the report was compiled by a partner of Newport, the Main Data Group, a research and consulting company and source of executive benefit and total reward information. Content is derived from a vast array of publicly available information including proxy statements, 10k, 11k, and plan document filings, and is included in the report together with proprietary information gathered by Newport.  

“Recent surveys indicate that executive benefit plans continue to be a significant part of a company’s total compensation,” said Newport CEO Bryant Kirk. “Over 90% of Fortune 1000 companies offer one or more of these plans to their executives. Knowing what specific plan features one’s peers are offering to key talent can be a critical barometer for assessing the effectiveness of your own company’s program.” 

Principal Funds Offers Social Security Guidance

Principal Funds, the mutual fund arm of the Principal Financial Group, has created resources to help financial professionals guide clients through their Social Security benefits.  

The resources are intended to “demystify” Social Security benefits. Principal Funds suggest individuals take three steps, which should be taken along with an adviser:

  1. know your benefit,
  2. understand your options, and
  3. determine a plan to maximize your benefit.

“Understanding the complexities of Social Security is not an easy task,” said Chad Terry, director of retirement solutions at Principal Funds. “Many retirees may be missing out on hundreds of dollars each month because they’ve been unable to navigate the intricacies of the Social Security.”

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Resources include:

  • A Web site dedicated to assisting financial professionals as they help their clients make important Social Security decisions. The continually updated site includes videos, a blog written by Terry, a benefits calculator and other tools
  • A paper for financial professionals titled, “What You May Not Know About Social Security Benefits”
  • Investor guide with a step-by-step process to help clients get the most from Social Security, including a planning worksheet for clients to complete prior to an appointment with a financial professional
  • FAQ that explains key Social Security concepts such as Full Retirement Age, spousal benefits and the calculations used to determine benefit reductions
  • Access to a team of retirement specialists ready to answer financial professionals’ questions about the complexities of Social Security

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