Last year’s pandemic didn’t slow our work towards creating tomorrow’s retirement plans. We continued making enhancements to our retirement plan services to help make it easier for you, your clients, and their participants.
Join Jerry Patterson as he discusses the 2021 outlook of new products, services, and technology advancements that show the power of Principal.
Agenda
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An update on the integration of Wells Fargo Institutional Retirement & Trust (IRT) to Principal
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New and updated solutions for 2021
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Our pooled-employer plan (PEP), Principal® EASE
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An all-digital 401(k), Simply Retirement by Principal®
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Total Retirement Solutions (TRS), including Principal® Equity Compensation Solutions and Principal® Custody Solutions
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Managed accounts with Target My Retirement®
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A demonstration of our award-winning website* and other technology advancements
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A brief policy and legislative update
Featured Presenters
Gerald (Jerry) Patterson
Senior Vice President, Retirement and Income Solutions, Principal Financial Group
Jerry has been a presence in the financial services industry for more than 25 years and has held diverse and senior roles at some of the nation’s largest financial institutions. Patterson currently serves as senior vice president, Retirement and Income Solutions with the Principal Financial Group® - leading the company’s retirement plan businesses.
Jerry is a national speaker and writer on a broad range of financial topics. He has been featured as a resident blogger for the Huffington Post where he focused on financial wellness and overcoming human nature to attain better financial security outcomes.
Gustavo Camacho
Senior Digital Experience Consultant, Principal Financial Group
Gustavo provides support to our national education strategist team by providing industry knowledge, competitive information, and best practices in an effort to increase the retirement adequacy for our clients and their retirement plan participants. He also works closely with the architects that are responsible for designing our participant experience to help ensure our delivery continues to meet the needs of a continuously changing demographic.
Gustavo joined Principal® in 2008 as Retirement Education Specialist providing retirement plan consulting, education, analysis and customer service to large market retirement plan participants to help them plan for a secure retirement. He also spent time as an Sr. Education Strategist specializing in developing education strategies to help achieve client objectives and deliver a personalized, outcome-based solution to participants, Prior to joining Principal, Gustavo worked as a Registered Investment Advisor. Gustavo received his Bachelor of Science degree in Business Economics from Virginia Tech.
Lance Schoening
Director of Policy, Retirement and Income Solutions, Principal Financial Group
Lance is responsible for analysis of proposed and new retirement legislation and regulation and advocacy efforts in conjunction with industry trades to promote policies that support retirement readiness efforts. He also serves as a policy board member of the American Benefits Council and as Chairman of the Retirement Plans Committee of the American Council of Life Insurers.
WEBINAR DETAILS
Date:
Wednesday April 7, 2021
Time:
11:00 - 12:00 PM Eastern Time (US & Canada)
Cost:
Free
Language:
English
Webinar ID:
1ed741eddc23
* Corporate Insights. Awards retirement plan provider websites, December 2020.
For financial professional/institutional use only.
Principal Financial Group closed the acquisition of certain assets of the Wells Fargo Institutional Retirement and Trust business (IRT) on July 1, 2019. The transition, transfer, and conversion of IRT business operations, employees, and clients will occur over the following 12-24 months. During the transition period, Wells Fargo Bank, N.A., a bank affiliate of Wells Fargo & Company, will continue to operate and service the IRT business for the benefit of Principal®, including providing recordkeeping, trustee, and/or custody services.
Wells Fargo has not reviewed the content of the attached material and makes no judgment of its accuracy.
Simply Retirement by Principal® requires a client service agreement between Ubiquity and the plan sponsor (Customer). In addition to and as part of the services, each Customer will sign separate agreements with the following parties: (i) custodian (ii) 3(38) investment manager, and (iii) Principal Life Insurance Company, a Comprehensive Retirement Program (PCRP ) offered through the Modular Group Annuity Contract for separate accounts, and a declaration of trust for Principal collective investment funds. Simply Retirement by Principal services, costs and resources are subject to change.
Simply Retirement by Principal® 401(k) plan recordkeeping, and administrative services are provided through Decimal, Inc. dba Ubiquity Retirement + Savings (“Ubiquity”). Ubiquity is not affiliated with any plan and investment administrative services provided through Principal Life Insurance Co. or affiliated with any company of the Principal Financial Group®. Principal makes available the investment options for customers to select through Simply Retirement by Principal. All other services are provided by service providers not affiliated with any company of the Principal Financial Group. Refer to related documents and agreements for more details on plan services available.
Target My Retirement is a managed account program that provides participants with a personalized approach to retirement planning and an investment strategy that moves on a glide path toward their retirement.
Principal has retained Morningstar Investment Management LLC as an investment adviser to create and manage the Target My Retirement investment strategies. Morningstar Investment Management uses its proprietary platform, Morningstar® Retirement ManagerSM to provide personalized advice on retirement age, savings rate, and investment strategies with the goal of helping a participant reach their retirement goals.
This service is offered by Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc., and is intended for citizens or legal residents of the United States or its territories. The Morningstar name and logo are registered marks of Morningstar, Inc. Investment advice generated by this service is based on information provided and limited to the investment options available in the defined contribution plan. Projections and other information regarding the likelihood of various retirement income and/or investment outcomes are hypothetical in nature, do not reflect actual results, and are not guarantees of future results. Results may vary with each use and over time. Participants should continue to review investment information at least annually or as significant events occur. Morningstar Investment Management is not affiliated with Principal.
Target My Retirement has been designed to be able to meet the requirements for a managed account "qualified default investment alternative" under DOL regulations. Note that plan specific requirements also apply. Plan sponsors should consult their legal advisors for more information.
When using the plan's existing core investment option array with the Target My Retirement offering, Principal does not serve in a 3(21) capacity; the plan sponsor or designated fiduciary maintains responsibility for the plan's core investment array.
Principal charges each participant who enrolls in Target My Retirement (TMR) an asset-based management fee based on the participant's assets under management through the TMR investment solution. In addition to the asset-based management fee, assets invested through TMR are also subject to fees and expenses charged by the underlying investment options. Depending on the version of TMR selected by the Principal client, the underlying investment options may include mutual funds, collective investment funds (CITs) and Separate Accounts for which Principal or its affiliates may receive additional compensation.
If a plan participant selects: Target My Retirement-Advice, Morningstar Investment Management LLC will make a point-in-time recommendation on investments, savings rate, and retirement age, based on specific information the participant provides, including age, gender, years to retirement, current salary, current savings rate, and account balance. The participant is responsible for logging in to set their mix of investments, rebalancing or any updating of their mix of investments.
Past performance is no guarantee of future results. All investments involve risk, including the loss of principal. There can be no assurance that any financial strategy will be successful. Morningstar Investment Management does not guarantee that the results of their advice, recommendations or objectives of a strategy will be achieved.
This information is for marketing and promotional purposes only. It does not constitute fiduciary advice or a recommendation with respect to an independent plan fiduciary's decision to use the Target My Retirement investment solution.
Custody and trust solutions are provided by Principal Bank®, Member FDIC, and/or Principal Trust Company®. These solutions are provided under the trade name Principal® Custody Solutions, a division of Principal Bank. Principal Trust Company is a trade name of Delaware Charter Guarantee & Trust Company. Principal Bank and Principal Trust Company are members of the Principal Financial Group®, Des Moines, IA 50392.
Insurance products and plan administrative services provided through Principal Life Insurance Co. Securities offered through Principal Securities, Inc., 800-547-7754, member SIPC and/or independent broker-dealers. Principal Life, and Principal Securities are members of the Principal Financial Group®, Des Moines, Iowa 50392.
