Principal Financial Group has launched My PERLS 2.0, short for “My Principal ESOP Repurchase Liability Solution,” to aid plan sponsors in planning for the future through advanced analytics and an easy interface.
Heading off repurchase liability means making sure clients have enough liquid cash for major events (e.g., when an employee retires and needs to cash out of his or her ESOP holdings). The goal of My PERLS 2.0 is to make sure clients have no surprises when it comes to managing their ESOP repurchase liability.
“The difference with My PERLS 2.0 is like going from analog to HD,” says Jerry Ripperger, vice president of consulting at Principal. “What we had was really good; it was ahead of the curve. Now, My PERLS 2.0 is the new standard, and it sets the bar going forward.”
The product is available to Principal ESOP clients as part of their current plan.