The program, called Principal Professional Link allows TPAs to remain upfront with clients as plan design and compliance experts, while The Principal supports them with plan maintenance and administration.
Through Principal Professional Link’s flexible service arrangements, TPAs decide which service package is best for their clients.
Services provided by The Principal include:
- enrollment services,
- investment management,
- participant-level recordkeeping, and
- complete plan member services
The TPA typically provides plan design and document services, allocation calculation, compliance testing and reporting services. Additional flexibility is offered with regard to vesting, loan, and distribution services.
While Principal Professional Link primarily includes TPAs, The Principal also offers these services to CPAs who are providing plan administration and compliance services to their clients.