Engaging and inspiring, creating magic and momentum.

Intuitive technology

Here’s the sad truth about retirement readiness: Most people aren’t on track to achieve it. Many procrastinate. Others aren’t sure what to do. Some participate, but save too little, not understanding the value of their company’s match. More than a few simply don’t expect to retire at all.

But we’re proving that little pushes and simplified choices can produce significant momentum – especially when combined with plan design best practices, intuitive technology, and close working relationships with plan sponsors.

Our first-of-its-kind retirement modeling planner assesses plan design options in real time. It’s designed to help plan sponsors make decisions that can lead to better participant outcomes. For instance, we know that automatic enrollment is important. So is a starting deferral rate of 6 percent, rising to 10 percent over time. Surprisingly, most employees agree. And the journey begins. Interactive, engaging My Virtual Coach conversations provide help to participants along the way. On their smartphone or tablet. Whenever they want to engage. And our experts are never more than a phone call away to provide deep knowledge, understanding, and support.

So how do these tools and best practices work in real life? Movement Mortgage has grown from four to 4,000 employees in 10 short years. The company is fully engaged in guiding their people, mostly Gen Y and millennials, to long-term financial security. In 2017, they partnered with Principal to help take their plan to the next level. They created a contest to drive employees to complete a retirement checkup on principal.com and engage in My Virtual Coach conversations. Nearly a third of their participants increased deferral after having access to their Retirement Wellness Score and Planner. By the end of the year, plan participation grew from 88 percent to 97 percent – with more than 60 percent of participants on track to replace at least 50 percent of their income in retirement.

Clearly, our commitment to best practices is producing satisfying results. People who enroll through My Virtual Coach are five times more likely to contribute 10 percent or more of their salary than those who enroll through other methods.