Frequently Asked Questions
In 2022, Ascensus and Newport became part of a unified organization under Ascensus. Since then, we've been engaged in a thoughtful, measured, and collaborative approach that builds upon our collective strengths to deliver the best of the best our unified organization has to offer.
Our unique approach means the award-winning Newport web experience* you and your participants value today will serve as the digital framework moving forward, even after your plan has fully migrated to the Ascensus recordkeeping services platform in 2024.
*DALBAR Review. Q4 2021.
Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States.1 Our independence enables financial advisors and employers to build plans their way—choosing investments and services that support participants’ retirement readiness. Ascensus is well-positioned to bring a world-class experience to you and your participants.
We believe everyone deserves to feel financially secure. That's why Ascensus is helping more people save for a better future. With more than 40 years’ experience, Ascensus is a market-leading enabler of tax-advantaged savings, trusted by more than 14 million people (and counting).
We have over $808 billion in savings assets under administration. We serve more than 153,700 retirement plans and our 5,500+ associates are passionate about helping clients achieve their goals.2
Newport’s and Ascensus’ shared values and shared commitment to client experience, accountability, collaboration, quality, and integrity formed the foundation of our unification strategy and vision.
You can learn more about us at ascensus.com.
1Cerulli Associates. The Cerulli Report: U.S. Retirement Markets 2022. December 2023.
2As of March 31, 2024.
In 2013, Bell Bank teamed with Newport to expand and enhance the retirement services program. Also in 2022, Ascensus and Newport became one company under Ascensus, a premier tax-advantaged savings program provider.
Plan Migration
Yes, your plan will be migrated to the Ascensus recordkeeping services platform. But with our focus on maintaining the best of the best from each of our organizations, you'll continue to have access to key features of your Newport experience.
You can expect a smooth journey with minimal action required from you or your participants.
- You do not need to change plan documents.
- We will migrate data over a weekend, reducing time out of market.
- Login credentials will remain the same.
- Participants do not need to re-register in the plan.
Your plan is scheduled to migrate over the weekend of November 15, 2024.
Yes. There will be a brief quiet period limited time, known as a "blackout period, "when some activities will be suspended, allowing for your plan’s secure migration to Ascensus recordkeeping platform. Specific dates and cut-off times for processing transactions will be shared well ahead of migration.
November 11, 2024
- Last day for participants to request an online distribution or loan
November 12, 2024
- Last day for plan sponsors to approve online distribution or loan requests (if applicable)
- Last day to submit and fund a payroll for a payroll date on or before November 12, 2024. If funding via ACH pull, files must be received by 1:30 p.m. ET. Payrolls with a payroll date after November 12, 2024, should not be entered until after the migration is complete the week of November 18.
We anticipate trading activity and account updates to resume and the blackout period to end during the week of November 18, 2024. You'll be notified when your plan's migration is complete, and your plan website will be re-launched.
Bell Bank will continue to serve as custodian and/or trustee of your plan.
Continuity and Enhancements
Plan Sponsor Experience
We are committed to providing as much continuity as possible in your service model and maintaining the same high level of responsiveness and support you expect.
While the unified organization will be branded Ascensus, you will continue to see Newport in some parts of your experience following migration.
Yes. Your login credentials will remain the same and your current web experience will continue to serve as the digital framework moving forward, with ongoing enhancements over time.
Yes. As we bring forward the best of each organization, some reports will remain the same, others will be enhanced, and new options will be added.
Your current investment options will be automatically mapped to the Ascensus recordkeeping platform. If you'd like to make changes, you can work with your Bell Retirement Plan Consultant to do so now. There is no need to wait until migration is complete to update your investment options.
Participant Experience
We will provide participant-focused resources as we get closer to migration. We are committed to making it easy for you to share what’s happening with your employees and answer any questions they may have.
Yes, participants will continue to access their accounts the same way they do today at bellbanksretirement.com/login/participant. Participants can also call the participant service center using the same phone number they do today, 855-225-2355, with any questions about their account.
Available after migration, the READYSAVE mobile app offers a simple, streamlined, and supportive experience that is driven by data and backed by behavioral science to help participants make more informed decisions throughout their journey to retirement readiness. The app also has a Spanish language option. Participants will receive more information about downloading and using the app as soon as migration is complete.
In addition to the READYSAVE mobile app, participants will find Spanish and alternative language capabilities: On the employee website – the dashboard will still be available in Spanish; transactional pages will not. Through the call center – Spanish-speaking representatives and additional licensed and bonded language translation services are available.
Yes. Data from January 1, 2021, forward will be securely carried over to the Ascensus recordkeeping platform. Statements from prior periods will continue to be available on the employee website.
Post-migration, fees will no longer be pulled directly from SDBAs and the ability to initiate distributions directly from SDBAs will no longer be available. It will be the participant’s responsibility to have enough invested in the plan’s core funds to cover SDBA fees and any distributions. Participants will see two funds in the plan lineup for their SDBA: The “cash” fund is used for investment elections as well as transfers to and from the core funds. The “invest” fund shows the market value of all securities within the brokerage account. New contributions and/or rebalances that are initiated or scheduled by the participant will post directly into SDBA “cash.”
After migration, terminated participants may change their address by calling the Participant Service Center. Participants may also change their address at the time of a distribution by submitting the snap- on Contact Change form with the Separation from Service distribution form. Note: There is a 14-day hold on distributions that are submitted with address changes.
Where applicable, participants will also be prompted to re-establish and update their investment election, auto-rebalance election, and/or auto-increase deferral election.
Payroll & Contribution Funding
Whether you submit a file through a vendor, upload a file through the plan website, or enter contributions manually today, you can continue to do so after your plan has migrated. Though your experience might be slightly different, we’re taking great care to keep the process simple and streamlined. We’ll share more details well ahead of migration.
Yes. Your payroll integration will remain in place after your plan has migrated.
Ascensus offers a wide array of payroll integrations with external vendors, with both 180 and 360 options. See a complete list here.
After migration, the new Plan Administration portal on your dashboard will include two options to review management accounts: Search for “ZZ forfeiture” or “ZZ suspense” as last name for an individual management account in the Employee Search tool. Go to the Reports menu and run the Forfeiture and Suspense report. Manual and file upload: Available forfeiture and suspense funds will be displayed on the website when submitting your payroll. Contributions will be invested when all funding is received, including the sale of forfeiture funds, when applicable.
Yes, the process differs depending on how you submit your payroll. For manual and file upload, available forfeiture and suspense funds will be displayed on the website when submitting your payroll. Contributions will be invested when all funding is received, including the sale of forfeiture funds, when applicable. Contact your client service team to assist in offsetting future employer contributions.
Yes. After the migration is complete, the deadline for same-day trading of payroll contributions received in good order and submitted by ACH will change from 1:30 p.m. ET to 1:00 p.m. ET. Payroll contributions submitted after the deadline will trade on the following business day.
Plans will go through an initial set of edits before the file is transmitted to Ascensus. Once those edits are cleared, files are transmitted to Ascensus and go through additional checks. Any additional errors will be handled internally by Ascensus and if needed, you will be contacted for error resolution. You will be able to track the status of payroll at any time by selecting “Tracking Details” for any submitted payroll in process on the Contributions page.
Yes. All data must be in good order prior to processing the file.
Loan overpayments are removed during the payroll process. You will receive a notification with the participant(s), the overpayment amount(s), and a request that the amount(s) be refunded to the participant(s). The automated funding request (AFR) will reflect the reduced loan amount, as well.
On a monthly basis, residual distributions are automatically processed for terminated or retired participants who have balances under $100 and have taken a complete account distribution in the past 60 days. Participants may request residual distributions at any time via form or through the employee website. Residual distributions will not be automatically processed for distributions issued prior to migration.
Participants may request online distributions via the employee website for separation from service
(total payouts), in-service due to age 59½ (cash only), and hardship. As a plan sponsor, you may process online distributions via the plan website for separation from service (total payouts) and hardship.
Last updated September 13, 2024
Additional questions?
Your Bell Retirement Plan Consultant is here to support you every step of the way. Feel free to reach out with any questions.