Newport Group Consulting LLC

ITEM 5: FEES AND COMPENSATION

Managed Account Service Fees
NGC charges an annual fee at the rate of fifteen (15) basis points of the account balance. Participant managed account
fees will be calculated quarterly in arrears based on the average daily balance of each subscribed participant during the
quarter. The fees for a subscribed participant begin accruing on the date that enrollment is processed and will be prorated
for partial periods. It is important to note that the 0.15% fee is for the asset management services of NGC and the
recordkeeping fee and the MAS Technology Vendor fee are charged independently of the NGC fee.

Termination
NGC will continue to manage the Participant’s Account until (i) the Participant terminates MAS or (ii) the agreement between
the Plan’s responsible plan fiduciaries and NGC to provide the MAS to the Plan is terminated. For Subscribed Accounts on
the Ascensus platform, Participants may terminate the MAS at any time by making their own investment allocations or
allocating their plan account among other investment alternatives offered under the Plan. In all instances, Participants may
also cancel by selecting the “Unsubscribe” button from within the MAS user interface. There are no fees or penalties for
cancelling the MAS. Upon termination, the Participant assumes full responsibility for allocating his or her Plan account
among the Plan’s investment options. Participants who unsubscribe will remain invested according to NGC’s most recent
allocation until the Participant changes it. Participants also will remain invested in the last NGC allocation if the service
agreement between NGC and the Plan fiduciaries is terminated. NGC is not responsible for a Participant’s investments
following termination of MAS.

ITEM 7: TYPES OF CLIENTS
The MAS generally provides portfolio management services to participant-directed retirement plans.
NGC’s discretionary authority to manage participant accounts is derived from a delegation of investment management
authority from the named fiduciaries of the retirement plan. Under ERISA, the named fiduciaries are responsible for the

Newport Group Consulting, LLC                                                   Form ADV Part 2A Managed Account Service

investment of the plan’s assets and can, under procedures specified in the plan document, delegate investment
responsibilities to third parties. The named fiduciaries generally may delegate full discretionary investment responsibilities
to an investment manager described in §3(38) of ERISA. Qualified investment managers under §3(38) include registered
investment advisers under the Investment Advisers Act of 1940, such as NGC.
The MAS is provided as a Plan feature that is selected by Participants. NGC does not provide the MAS alongside other
managers to a Plan in such a manner that the Participant has a choice of managers.