The Principal EASE (Employer Administrative Solutions made Easier) Program unites a suite of distribution, recordkeeping, plan compliance, payroll, and even third party administrator services in one package.
According to the announcement, plan sponsors may be able to save time and money, as well as ease of communication with clients, by transferring their administrative jobs to The Principal. The program also includes a written service warranty that may provide plan fiduciaries with a level of indemnification protection.
“We understand employers need time to focus on running their businesses,” said Doug Grove, vice president, national sales director of retirement services at The Principal, in the announcement. “We are so confident in the Principal EASE Program that we back it up with a written service warranty. If we’re ever unable to fix a service problem to the client’s satisfaction, we will waive the fee for the service.”
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