Principal Financial Group 2010 Annual Report Download - page 19

19
OFFERING EMPLOYERS VALUE-ADDED BENEFITS
n Retirement plan scale-based pricing – Scale-based pricing
provides plan sponsors and financial professionals an
expanded array of service and installation options that
can help meet their needs for new retirement plans with
up to $1 million in plan assets under management.
n Cost-effective benefit options – To help growing businesses
offer top-notch employee benefits during a difficult
economic environment, The Principal provides
cost-effective benefit options such as:
> New voluntary long-term disability options
> More dental designs that provide employers
lower-cost options
> Expanded multi-product discount program that
includes all combinations of three or more specialty
benefit products and lower premium rates on multi-life
business solutions
n Nonqualified Incentive Bonus Plan – Expanding our
nonqualified family of benefit programs, we launched our
Incentive Bonus Plan, which is designed to help retain and
reward key employees who are not included in traditional
nonqualified solutions. The plan allows employers to
make discretionary company contributions and provides
participants support to design individual investment
strategies and access to account information.
n Website to support Principal Year Round Wellness –
Through this new wellness website, employers view
the aggregate health trends within the employee
population while employees access a customized
view of progress toward goals and incentives.
HELPING EMPLOYERS MEET FIDUCIARY AND
COMPLIANCE RESPONSIBILITIES
n Making Form 5500 filing easier – The Department of
Labor named The Principal a certified vendor for the
creation and electronic submission of Form 5500, one
of only three recordkeepers to receive this distinction.
This means plan sponsors experience a simpler, more
seamless process for Form 5500 filing—through e-filing as
well as other resources like our Consolidated Disclosure
and Data Collection tools. In addition, we offered
online tutorials and made follow-up phone calls to all 403(b)
clients having to comply with Form 5500 reporting for
the first time.
n Fee disclosure education website – Principal.com/feedisclosure
is dedicated to educating financial professionals and plan
sponsors about the proposed fee disclosure regulations
from the Department of Labor.
HELPING PEOPLE ACHIEVE FINANCIAL SECURITY
n Meeting the unique needs of business owners –
> New, simplified sales process for exit planning –
Financial advisors can help business owners better
prepare for the future through free, informal business
valuations and a review of buy-sell agreements.
A new, simplified sales approach means advisors
work directly with our dedicated team of experts.
And www.principal.com/exitplanning gives advisors
easy access to related tools and resources.
> New Variable Universal Life – This product helps
business owners accumulate cash value to grow their
business, supplement retirement income for business
owners and key employees and achieve financial
stability through long-term death benefit protection.
n Dream.฀Design.฀Rebuild.฀mobile฀site฀– This mobile
application helps retirement plan participants define
their financial goals, create a strategy and find a financial
professional to help make those dreams a reality.
n Income Annuity payment increase options – We implemented
two new options that provide clients peace of mind that
their retirement income can keep up with inflation.
n Educational tools aimed at international customers –
> BrasilPrev developed a series of online courses that
corporate clients can provide to their employees
at no cost. They include tips on money management
and information on investment options to meet
specific financial goals.
> PrinCorp Wealth Advisors in Hong Kong rolled out
calculators to help clients in all stages of life and all
levels of investment knowledge develop plans to meet
their financial goals.
THE PRINCIPAL FINANCIAL GROUP