Principal Financial Group has introduced two new products for small and mid-sized businesses and tax-exempt organizations to make it easier for them to offer retirement plans.
Principal Flex and Principal Flex-Open can help sponsors and the advisers serving them easily arrive at a baseline cost for the plan, select investment options, select how expenses will be covered, evaluate plans and select the compensation for the financial professionals serving the plan.
Principal Flex also allows advisers to offset administrative costs and employ tax saving strategies. Furthermore, it reduces paperwork and offers participant features and additional customizable features typically enjoyed by larger corporations.
“Driven by our commitment to continued innovation in retirement solutions, Principal Flex delivers flexibility in plan design, investment selection, expense collection and compensation while offering employers simplicity in how the plan services are provided,” says Keven Morris, vice president and chief marketing officer, retirement and income solutions, at Principal Financial Group. “Our goal is to build plans that help employers take care of their employees’ future lives but spend less time on administrative complexity.”
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