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Not-For-Profit Plans: Plan Services

Overview

A Not-For-Profit plan lets employees save for retirement by reducing current salary on a before-tax basis. It can be used with profit-sharing, money purchase, Defined Benefit, and Nonqualified plans.

Spend time making a difference, not managing your retirement plan
Our team of dedicated not-for-profit retirement specialists can work with you and your financial professional to help create an optimal plan design and enhance your retirement program with services and efficiencies to fit the needs of your administrative staff and employee populations. Combine this personalized service with an impressive array of investment options, and that's one great value from a company with over a century of financial expertise.

Delivering a broad range of services
We take a holistic approach that helps integrate your retirement program with services that help to reduce your administrative burden. This includes:

Have questions?

Combine your plan services together to obtain relevant information and offer suggestions quickly.Plan Sponsor Services – An extension of your plan resources

Managing your retirement program is only one of your many responsibilities and services you provide. So it's important the provider you choose offers the support you need for your retirement program so you can concentrate more on helping in your community. We understand the unique challenges and complexity of transitioning your 403(b) plan. And, we make the 403(b) transition more efficient by dedicating a transition service representative to help you early and often throughout the transition process.

Administrative services

We make providing a retirement program easy with individualized attention that includes:

  • Daily updates to records
  • An easy program to distribute benefits to participants
  • Combined plan services to simplify administration across all retirement plans

Compliance services

We pay special attention to compliance details. We provide government forms ready for your review and signature and the information your auditor needs for a limited scope audit to help keep your retirement plan in compliance with government regulations.

Beginning in 2010, ERISA 403(b) plan sponsors will face the same financial reporting and auditing requirements as 401(k) plans. You can use the following samples to help ease into the new requirements:

  • 2008 Life Count Package: View a sample package that helps determine if a plan is large enough to require an audit.
  • Audit Package: See a snapshot of the data we provide to help with future audits.
  • Form 5500 Sample Packet: Get familiar with the type of information you will need to verify and see what missing data you may need to provide for a full Form 5500 report.

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Offer employees an array of solutions to meet their changing priorities.Participant Services – Helping employees dream again

We know that if employees don't act, they are less likely to enjoy retirement. As a group, employees generally don't know how much to save, how to invest or even when to get started.

Flexible education program

We offer My Principal Edge-403(b)[2] - a flexible, personalized, ongoing participant education program to help your organization from transition through ongoing retirement plan needs. Our dedicated team is with you and your employees every step of the way:

  • Transition and administrative services
  • Education through one-on-one meetings or a mix of one-on-one and group meetings
  • Ongoing education and communication /li>

Watch the My Principal Edge 403(b) video to learn more.

Reaching employees their way

We employ traditional communication methods as well as new technologies, such as social media, mobile and web technologies, to help reach a more diverse participant base. We also deliver retirement plan awareness and education to participants the way they prefer – on-site, on-the-go or online.

Making it easier to take action

Your participants will also have access to automated solutions, including:

  • Easy enrollment online, by telephone or mail.
  • Automatic enrollment for participants who meet your retirement plan's eligibility requirements.
  • Automatic salary deferral increases.
  • One of the most comprehensive line-ups of retirement-focused lifecycle investment options in the industry.

Developing a plan

Retirement planning is critically important for participants, so we assist participants by providing guidance in developing a written plan.

  • An exclusive online tool, My Principal Edge Milestones®, helps participants identify their retirement goals, determine if they are on track, and create a personalized, action-oriented guide to help them reach their goals.
  • Principal Retire Secure conducts a holistic financial needs analysis and helps participants develop a personalized, action-oriented guide to help them take steps to achieve their retirement goals.
  • Through Principal Retirement Income EdgeSM we continue to:
    • Support participants as they approach and enter retirement,
    • Help participant convert savings into income at retirement, and
    • Help participants plan for savings to last throughout retirement.

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Through our experienced actuaries and consultants, we can help make certain your Defined Benefit plan meets your needs.Consulting services – expertise drives solutions

When you work with The Principal®, you have access to a wide variety of products and services, including our non-profit consulting services. We provide retirement-focused solutions on issues such as plan compliance, taxation, distributions, mergers and acquisitions and legislative changes. Our non-profit consulting services include[5]:

  • Review of multiple vendor plans for 403(b) plan and contract compliance
  • Customized plan compliance nondiscrimination testing and analysis
  • Legislative interpretation and guidance
  • Plan benchmarking information and analysis
  • 457(b) and 457(f) plan design

We take a proactive, consultative approach to your retirement plan. Our consultants:

  • Keep up-to-date on the latest legislation, guidelines and news on your behalf.
  • Have an average of over 15 years of experience in retirement plan design and administrative services, our retirement plan consultants.
  • Generally focus on specific fields of expertise as they apply to defined contribution, defined benefit, and nonqualified plans for non-profit and governmental organizations.
  • Offer retirement-focused solutions and help you implement them, making plan changes easier for you and your employees.

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Have questions?

Contact a local representative today for more information or to find a financial professional in your area.

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[2]
My Principal Edge - 403(b) is available when plan assets under management of at least $5 million are projected to be transferred to The Principal.
[3]
Each Principal LifeTime portfolio and Principal Strategic Asset Management Portfolio is available through a Separate Account or Principal Funds mutual fund. Principal LifeTime Separate Accounts and Principal Strategic Asset Management Separate Accounts are made available through a group annuity contract with the Principal Life Insurance Company, Des Moines, IA 50392. May not be available in all states or U.S. commonwealths.
[4]
The investment advice provided through the Principal Managed Account Program is provided by Ibbotson Associates. Access to the advice and securities and advisory products are offered through Princor Financial Services Corporation, 1.800.547.7754. Princor is a member of the Principal Financial Group, Des Moines, Iowa, 50392. To obtain a copy of Ibbotson Associates disclosure brochure or the Princor Financial Services Corporation Disclosure Brochure and Privacy Notice, visit www.principal.com or call 1.800.547.7754 and speak to a retirement specialist.
[5]
Dependent upon the level of service an additional fee may apply.

Before investing in mutual funds, investors should carefully consider the investment objectives, risks, charges and expenses of the funds. This and other information is contained in the free prospectus, which can be obtained from your local representative or by contacting us at 1.800.547.7754. Please read the prospectus carefully before investing.

The value of the investment options will fluctuate so that when redeemed, shares or units may be worth more or less than the original cost.

No investment strategy, such as asset allocation or diversification, can guarantee a profit or protect against loss in periods of declining values.

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Have a question? Call us at 1.800.986.3343

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