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Personalized welcome for new retirement plan participants

Sometimes getting started is the hardest part. That’s why we’re refreshing eligibility notification and launching a new welcome experience to help participants. You can feel confident we’re making things simpler for your clients and doing more to help their employees take their first step. And they can rely on us to deliver notices, reminders and additional enrollment support*.

Eligibility notification

With the new Electronic Delivery of Participant Eligibility Notices service, we can deliver required notices – at no additional fee – to plan sponsors’ new hires and other newly eligible employees who are “wired at work,” starting with those eligible Jan. 1, 2019.*

Plan sponsor to-dos

Nothing’s required of you, but to take advantage of this service plan sponsors must:

  • Determine if their employees meet “wired at work” requirements.
  • Create employee records – with work email addresses – on principal.com at least 60 days prior to plan eligibility (or ASAP if the plan’s eligibility period is shorter). 

They’ll want to build all employees – even if they aren’t “wired at work” – so we can tell plan sponsors when it’s time to deliver notices.

The bigger picture – simpler from the start

This guide explains what happens next with eligibility notification and the welcome experience. Here are the highlights: 

  • Eligibility notification emails sent to employees.
  • Plan sponsor task triggered if we don’t have an employee’s work email address.
  • Eligibility and enrollment reminders for all employees, even if they aren’t “wired at work.”
  • New welcome website at principal.com/welcome, plus a call-center team dedicated to new participants.

Welcome, we’re so glad you’re here

Before ushering in a new year, we’re rolling out a new welcome website in mid-November to offer participants a more personalized experience that’s designed to motivate better savings habits. Want to see the welcome website in action? This video gives you a sneak peek.

A nudge to take action

We’ve been hard at work improving the participant experience so retirement plan management is more efficient for you and your clients. And there’s more to come. Plan sponsors will soon have a new way to find and send enrollment information and educational resources to their employees through the employer website. Available in early 2019, it’ll be a one-stop-shop when they need to answer questions or nudge employees to take action. Here’s a preview.

Questions?

We can help. Contact your local Principal® rep or call our Advisor Support Team at 800.952.3343. 

 

*For employers that deem their employees to be “wired at work”. 

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.

Principal, Principal and symbol design, and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

© 2018 Principal Financial Services, Inc. | 641876-102018 | 10/2018

 

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