Principal Financial Group announced a collaboration with FuturePlan, transitioning administrative responsibilities for Principal® EASE, its largest Pooled Employer Plan (PEP) by client count, to FuturePlan. Principal EASE currently holds over $3.5 billion in total assets. This strategic move aims to meet the heightened demand for pooled retirement plans by aligning Principal's recordkeeping and investment capabilities with FuturePlan's fiduciary and administrative expertise.
The collaboration allows Principal to focus on its core strengths in investment management and recordkeeping, while leveraging FuturePlan's specialized administrative services. This division of labor is designed to enhance efficiency and service quality for plan sponsors and participants in the growing pooled retirement plan market. The move is a response to the evolving needs of the retirement ecosystem.
This partnership underscores Principal's commitment to optimizing its pooled retirement plan offerings. By working with third-party administrators like FuturePlan, Principal aims to provide more robust and streamlined solutions, ensuring that clients receive comprehensive support for their retirement planning needs.
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