The Principal Lends a Hand to Reduce Retirement Plan Administrative Burden
The Principal® EASE program can help plan sponsors save time and money
July 28, 2011 (Des Moines, Iowa) – One of the top challenges facing employers who sponsor retirement plans is finding time to manage the administrative details of the plan. A program from the Principal Financial Group® helps reduce that burden by making it possible for plan sponsors to hand off many administrative tasks.
The Principal® EASE Program brings together a broad suite of distribution, recordkeeping, plan compliance and payroll services into one simplified package. Plan sponsors can transfer many key administrative jobs to The Principal®, potentially saving them time and money.
“We understand employers need time to focus on running their businesses,” said Doug Grove, vice president, national sales director of retirement services at The Principal. “That's why, during our 65-plus years in the retirement business, we've built an extensive range of services to help make life easier for plan sponsors.”
The Principal EASE Program combines administrative services into one simplified package, making it easier for financial professionals and TPAs to explain the breadth of existing services to their clients.
From benefit event distributions, to loan processing, to plan audit support, the Principal EASE program is designed to provide EASE: Employer Administrative Solutions made Easier. It also integrates with third party administrator's (TPAs) services, further streamlining the process.
“We are so confident in the Principal EASE program that we back it up with a written service warranty,” said Grove. “If we're ever unable to fix a service problem to the client's satisfaction, we will waive the fee for the service. In addition, the service warranty provides plan fiduciaries a level of indemnification protection.”
The Principal EASE Program is just one part of the retirement plan services provided by The Principal. The core package includes a top-tier investment platform, a rigorous due diligence process and outstanding participant services.
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About the Principal Financial Group
The Principal Financial Group® (The Principal®) is a retirement and global asset management leader. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, investment services and insurance through its diverse family of financial services companies. A member of the FORTUNE 500®, the Principal Financial Group has $327.4 billion in assets under management and serves some 16.4 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG.
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- As of March 31, 2011.