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Group Income Annuities

Terminal Funding or Transfer Pension Risk (SPGA)

Through a Single Premium Group Annuity, an employer can terminate their defined benefit plan, and transfer the responsibility for all future benefit payments to current and future retirees to Principal Life Insurance Company in exchange for a single upfront premium.

Key Advantage:

Pension plan risk and administrative burden is transferred to Principal Life. Based on available funding levels, all or a portion (i.e. retirees only) can be transferred.

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Income Annuity as a DC Plan Distribution Option (SPGIA or VRI)

Through a Single Premium Guaranteed Immediate Annuity (SPGIA) or a Voluntary Rollover Income (VRI) program, an employer can provide employees access to group pricing on income annuities as a distribution option through a defined contribution plan.

Key Advantage:

Provide group pricing on guaranteed lifetime income to employees without increasing administrative or fiduciary burden. Our holistic approach provides participant education and salaried financial professionals who specialize in retirement income.

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Questions?

We are ready to answer your questions about institutional annuities and how they can provide a simple solution for generating guaranteed retirement income for life. Contact one of our dedicated retirement specialists at 1.877.492.9830.

Additional information:

Have a question? Call us at 1.800.986.3343

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