Products January 16, 2014

The Principal Unveils Enroll-by-Text Service

January 16, 2014 (PLANSPONSOR.com) – A new service from the Principal Financial Group enables workers to enroll in an employer-sponsored retirement plan through text messages.
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Workers can also join their employer’s retirement plan through a new mobile website, according to a statement from the firm.

“By making the [enrollment] process quick and convenient, we’re able to battle inertia and get individuals to start saving right away,” says Jerry Patterson, senior vice president of retirement income strategy at The Principal.

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Once individuals have chosen their contribution amount by text message or the quick-enrollment website, new participants can then select their investment elections online or by phone. This can be done at the same time or at a time convenient for the individual.

More information on the service is available here.

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