Third-Party Administrator Plans: Plan Services
Overview
A strong partnership between us and your TPA will give you the best of the both worlds - a local administrator combined with our legacy of expertise and commitment to your success.
Delivering a broad range of services
We will work your TPA to provide a holistic approach to your retirement plan needs, so you can be more strategic. This includes:
Plan Sponsor Services
When your plan services are with The Principal, Both you and your TPA will have more convenient access to your retirement plan information online. This enables all groups to access relevant information and offer suggestions more quickly, which helps increase your efficiency. We will work with your TPA on your retirement plan - thus making it easy for you. Services can include:
- Recordkeeping
- Investment services
- Fiduciary support
- Employee education and communication
- Benefit determination and payment
- Retiree payout services
Participant Services
Your employees may not fully understand, appreciate or take advantage of your organization's retirement program.
Unique education program
We offer a unique education program, known as My Principal® Edge. This program uses three strategies:
- Multiple approaches - meaning that we use a variety of methods to stay in contact with your employees.
- Action-oriented - we motivate employees by focusing on specific actions.
- Personalized - we look at the employee’s specific situation to help them take action.
Making it easier to take action
Your employees 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
- Target date investment options
Other solutions to help employees plan for retirement
To make your retirement plan successful, you not only need an effective enrollment and education program, but also a variety of solutions for employees to consider, so they can meet their changing priorities. These services can include:
- An exclusive tool that helps participants assess how close they are to meeting their retirement goals and provides a personalized timeline with action items to complete over the next 12 months - access My Principal Edge Milestones® online tool now.
- An education strategy tailored to your organization - from targeted communications to online tools and more.
- World-class customer service that allows your employees to speak directly to our highly-trained specialists.
Solutions for the "Do-It-Myself" investor
Help participants determine their risk tolerance and decide which asset classes are right for them. Investor Profile Quiz (PDF: 248 KB)
Solutions for the "Do-It-For-Me" investor
Participants can consider a target-date approach, where they choose a portfolio based on their expected retirement date. Principal LifeTime Portfolios[3] (PDF: 284 KB)
We also provide professional asset allocation options where participants choose the mutual fund portfolio that most closely matches their risk tolerance. Russell LifePoints® Portfolios (PDF: 154 KB)
Participants who choose more risk-based investments may choose the SAM portfolio that most closely aligns with their risk profile. These are five strategically diversified portfolios that use a target risk-based approach. Principal Strategic Asset Management (SAM) Portfolios[3] (PDF: 245 KB)
The Principal Managed Account ProgramSM helps you manage your fiduciary responsibilities by providing personalized investment recommendations to participants. This program is a service provided by Ibbotson Associates and offered through Princor Financial Services Corporation's Registered Investment Adviser. Principal Managed Account Program[4] (PDF: 754 KB)
Other Benefits
A 800 number with automated services
A toll-free, interactive voice response system gives participants the ability to:
- Review retirement plan statement information
- Move account balances
- Get a loan (if available through your retirement plan)
Client Contact Center
We provide world class customer service through the Client Contact Center. Participants can call and speak directly to multilingual retirement specialists who can answer their detailed questions about the retirement account.
Easy-to-read participant statements
These retirement plan statements help keep employees informed about the status of the retirement savings and investment performance. The statements have received the Seal of Excellence from DALBAR, one of the nation's leading independent financial services research firms.
Post-employment support
Our benefit counselors can help reduce your administrative burden by working directly with your former employees. We have numerous options available for your employees to keep their retirement savings working tax deferred when they are no longer a part of your organization.
Have questions?
Contact a local representative today for more information or to find a financial professional in your area.
- [2]
- Each Principal LifeTime portfolio and Principal Strategic Asset Management Portfolio is available through a Separate Account or Principal Funds, Inc. 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.
- [3]
- 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.
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.
