Press release
Principal® to Deliver Equity Compensation Plan Services as Part of Principal® Total Retirement Solutions Expansion
Uniquely integrates stock compensation with retirement plan services for simplified, technology driven experience for employers and employees DES MOINES,
About this update from Principal Financial Group Inc
[{"type":"text","content":"\nUniquely integrates stock compensation with retirement plan services for simplified, technology driven experience for employers and employees\n\n DES MOINES, Iowa--(BUSINESS WIRE)--\nPrincipal Financial Group® has teamed up with EQ U.S., part of Equiniti Group plc, a leading financial tech and shareholder services, to launch equity compensation plan services that will help plan sponsors manage employer-sponsored retirement plan benefit and compensation programs as part of a unified, data rich experience. The forthcoming Principal® Equity Compensation Solutions will address demand for flexible, easy-to-manage retirement and equity compensation plans. Representing an expansion of Principal® Total Retirement Solutions, this new offering also extends the Principal stock services and industry-leading employee stock ownership plan (ESOP) services.1\n\n“Despite the financial strain posed by unpredictable COVID-19 and market volatility, many businesses are not looking to cut back on employee benefits,” said Jerry Patterson, Senior Vice President, Retirement and Income Solutions at Principal. “Our customers are asking for equity compensation plan services, and we’re excited to deliver employers a new, flexible solution to help them manage retirement plan and compensation programs as part of a unified experience.”\n\nPrincipal® Equity Compensation Solutions \n\nWith an industry-leading technology and business intelligence platform, Principal® Equity Compensation Solutions - integrated with Principal® Total Retirement Solutions – can help simplify the complexities associated with managing multiple retirement and equity compensation plans, support employee engagement and deliver tailored service to navigate this evolving environment. Principal will provide access to administrative services to employers who currently offer or wish to offer equity compensation plans. These plans are often designed to recruit, reward, and retain key talent while providing alignment to the value and growth of a company.\n\nScheduled for onboarding of new plans in the first half of 2021, this integrated service solution features include:\n\n\nSingle, integrated view of retirement and equity compensation plans. Allows retirement and equity compensation plan sponsors to work with one service provider, helping streamline administration and maximize benefit dollar...