Principal® to deliver equity compensation plan services as part of Principal® Total Retirement Solutions expansion

Uniquely integrates stock compensation with retirement plan services for simplified, technology driven experience for employers and employees.

Principal Financial Group® has teamed up with EQ U.S., part of Equiniti Group plc, a leader in financial tech and shareholder services, to launch equity compensation plan services that will help plan sponsors manage employer-sponsored retirement plan benefit and compensation programs as part of a unified, data rich experience. The forthcoming Principal® Equity Compensation Solutions will address demand for flexible, easy-to-manage retirement and equity compensation plans. Representing an expansion of Principal® Total Retirement Solutions, this new offering also extends the Principal stock services and industry-leading employee stock ownership plan (ESOP) services.1

“Despite the financial strain posed by unpredictable COVID-19 and market volatility, many businesses are not looking to cut back on employee benefits,” said Jerry Patterson, Senior Vice President, Retirement and Income Solutions at Principal. “Our customers are asking for equity compensation plan services, and we’re excited to deliver employers a new, flexible solution to help them manage retirement plan and compensation programs as part of a unified experience.”

Principal® Equity Compensation Solutions

With an industry-leading technology and business intelligence platform, Principal® Equity Compensation Solutions - integrated with Principal® Total Retirement Solutions – can help simplify the complexities associated with managing multiple retirement and equity compensation plans, support employee engagement and deliver tailored service to navigate this evolving environment. Principal will provide access to administrative services to employers who currently offer or wish to offer equity compensation plans. These plans are often designed to recruit, reward, and retain key talent while providing alignment to the value and growth of a company.

Scheduled for onboarding of new plans in the first half of 2021, this integrated service solution features include:

  • Single, integrated view of retirement and equity compensation plans. Allows retirement and equity compensation plan sponsors to work with one service provider, helping streamline administration and maximize benefit dollars while delivering a unified experience for employees.
  • Talent Engagement. Supports employee recruitment, reward, retention, and can help them retire. Promotes employee loyalty and alignment between individual and company goals. employees will benefit by being able to see the full value of their benefits, along with education resources and tools all in one place.
  • Technology that turns real time data into actionable insights. Can bring a new level of strategic thinking to finance, human resources and executive teams. Employees can also benefit from streamlined experience and holistic financial picture to help drive their retirement goals.
  • Equips financial professionals with broader insight that can help clients make informed decisions. Supports streamlined consulting experience with retirement plan sponsors and employees, allowing them to seamlessly assess entire retirement plan and equity compensation program potential.

“Principal® Total Retirement Solutions, combined with EQ U.S. market-leading global technology platform for equity compensation plan services creates an experience designed to meet the needs we’ve heard from plan sponsors,” said Patterson. “We’ve built a powerful suite of features - from a holistic plan view that provides actionable intelligence and one source for financial wellness to time-saving efficiencies that help maximize recruitment and retention for businesses of all sizes.”

News Release Contact

US Retirement

Lonnetta Ragland, 515-878-1504

1 Based on number of recordkeeping ESOP plans, PLANSPONSOR Recordkeeping Survey, June 2020.

About Principal®

Principal helps people and companies around the world build, protect and advance their financial well-being through retirement, insurance and asset management solutions that fit their lives. Our employees are passionate about helping clients of all income and portfolio sizes achieve their goals—offering innovative ideas, investment expertise and real-life solutions to make financial progress possible. To find out more, visit us at principal.com.

About EQ U.S.

EQ U.S. provides transfer agent, equity compensation and proxy solicitation services that help companies reduce risk, realize efficiencies and improve shareholder experiences. We’ve been helping the world’s leading brands raise capital, incentivize employees and service shareholders while staying compliant since 1929.

In the U.S., we are responsible for 5 million shareholders, and together with Equiniti Group plc, we support nearly 23 million shareholders worldwide, issuing more than $300 billion in payments each year across the globe. EQ U.S.’s purpose is to care for every customer and simplify each and every transaction, delivering the highest levels of service through an effortless and enjoyable experience.

EQ U.S. is a part of Equiniti Group plc, listed on the London Stock Exchange, delivering payments, administration and technology services to organizations globally.

EQ U.S., is not an affiliate of any member of the Principal Financial Group.

Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Co. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., 800-247-1737, member SIPC and/or independent broker/-dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, IA 50392.