Press Release

Morningstar Retirement and NPPG Announce Strategic Integration to Expand Access to Personalized Retirement Services

Issued by Morningstar, Inc.

Oct. 22, 2025

CHICAGO -- Morningstar Retirement, part of Morningstar, Inc. (Nasdaq: MORN) a leading provider of independent investment insights, today announced a strategic collaboration with NPPG Plan Professionals, LLC, a related company of National Professional Planning Group, Inc. (NPPG), a leading Pooled Plan Provider (PPP) and intermediary fiduciary, to deliver personalized retirement offerings to employers through Pooled Employer Plans (PEPs).

Morningstar Retirement’s advisor managed accounts service will be integrated into NPPG’s PEP offerings, bringing personalization at scale to retirement plans traditionally out of reach for small and mid-sized employers.

“High-quality, personalized retirement plans were once limited to large companies. PEPs are changing that by closing the coverage gap for small and mid-sized businesses, where 56 million U.S. workers lack workplace retirement plans. They simplify administration, lower costs, and expand access," said Nathan Voris, head of go-to-market at Morningstar Retirement. "Through our collaboration with NPPG, we’re democratizing access, bringing these strategies to a broader market, and helping more employees plan for retirement."

As the PPP, NPPG will oversee the management and administration of these PEPs, helping ensure compliance, operational efficiency, and fiduciary oversight for participating employers. With nearly three decades of expertise in employee benefits and retirement planning, NPPG is uniquely positioned to serve the small and mid-sized business community.

"Together with Morningstar Retirement, we are helping employers offer more than just a plan—we're enabling personalized, outcome-focused strategies designed to support long-term financial well-being,” said Michael Salerno, CEO at NPPG.

NPPG is committed to driving shared growth and success within the advisor community. This new offering expands opportunities for advisors across the industry, helping to strengthen client outcomes and deepen collaborative relationships. Advisor eligibility for the NPPG advisor managed accounts service will depend on each advisor’s home office policies.

For more information, visit https://www.morningstar.com/business/brands/retirement

About Morningstar Retirement

Morningstar Retirement empowers investor success by providing research- and technology-driven products and services that help individuals reach their retirement goals. With advisory services provided by Morningstar Investment Management LLC, a registered investment adviser, Morningstar Retirement supports and collaborates with workplace retirement plans and other industry players to differentiate their services, stay competitive, and reach new markets, all in service of building a better retirement system. Morningstar Retirement not only helps people save for the retirement they want but helps them make their money last once they get there.

About Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment insights in North America, Europe, Australia, and Asia. The Company offers an extensive line of products and services for individual investors, financial advisors, asset managers and owners, retirement plan providers and sponsors, institutional investors in the debt and private capital markets, and alliances and redistributors. Morningstar provides data and research insights on a wide range of investment offerings, including managed investment products, publicly listed companies, private capital markets, debt securities, and real-time global market data. Morningstar also offers investment management services through its investment advisory subsidiaries, with approximately $352 billion in AUMA as of June. 30, 2025. The Company operates through wholly-owned subsidiaries in 32 countries. For more information, visit http://www.morningstar.com/company. Follow Morningstar on LinkedIn @Morningstar.

About National Professional Planning Group, Inc.

National Professional Planning Group (NPPG) and its related companies provide comprehensive retirement planning and ERISA fiduciary services. Serving as an intermediary fiduciary, NPPG oversees billions of dollars in assets on behalf of thousands of clients nationwide, ensuring compliance, efficiency, and fiduciary integrity across every level of plan administration.

NPPG’s full suite of services includes ERISA §3(16) administrative fiduciary oversight, retirement plan third-party administration for Multiple Employer Plans (MEPs) and Pooled Employer Plans (PEPs), as well as regulatory compliance and plan correction guidance.

With a diverse client base that includes Fortune 500 corporations, publicly traded companies on the NYSE and NASDAQ, government entities, non-profit organizations, associations, Professional Employer Organizations (PEOs), and small to mid-sized businesses, NPPG delivers customized solutions designed to meet the strategic business and financial objectives of each client.

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