Products February 1, 2012

Principal Releases Employee Benefits Best Practices Guide

February 1, 2012 (PLANSPONSOR.com) – The Principal released a free guide based on the best practices of The Principal 10 Best Companies for Employee Financial Security—2011.
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“Making it Personal” shows how a tailored approach can help employers make the most of their investments in employee benefits.   

The guide offers:  

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  • A benchmarking chart for comparing benefits with those of The Principal 10 Best Companies and national averages; 
  • Case studies that describe how the winning companies use benefits to boost their bottom lines; and 
  • Insight on how the winners work with financial professionals to design, manage and maximize their benefit investments. 

“This year marks 10 years of the Principal 10 Best. While we’ve seen trends emerge over the decade, one thing hasn’t changed: winning companies understand that helping their best and brightest achieve their financial dreams can help the business thrive as well,” says Luke Vandermillen, vice president of retirement and investor services for The Principal. “The winners highlighted in this guide have identified benefits strategies and tactics to help meet the challenges of attracting, retaining and motivating employees. This guide shows how other companies can do the same.”   

The Principal 10 Best Companies is a national program that recognizes small- and medium-sized companies that excel at helping employees build their financial futures through excellent benefits programs. Entries for the 2012 recognition will be accepted through April 27, 2012, at www.principal.com/10best.   

Employers with five to 1,000 employees may enter. Financial professionals may also nominate employers.
Products February 1, 2012

403(b) Transparency Taskforce Launches Model Disclosure Form

February 1, 2012 (PLANSPONSOR.com) – The 403(b) Transparency Taskforce launched the 403(b) Model Disclosure Form—transparency standards for disclosure of fees and services in the public school 403(b) marketplace. 

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The taskforce includes the National Education Association (NEA), the National Tax Sheltered Accounts Association (NTSAA) and The American Society of Pension Professionals & Actuaries (ASPPA).

With the new 403(b) Model Disclosure Form, teachers and other school district staff will have a simple uniform tool to make comparisons among their 403(b) retirement plan investment options. The form is designed to offer public school employees clear information about the services and fees associated with their retirement savings choices, so they can make the best decisions about their 403(b) retirement savings.

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“Transparency benefits everyone in the 403(b) marketplace—that’s why we urge adoption of the 403(b) model disclosure form by public schools throughout the country,” said Brian Graff, executive director and CEO of ASPPA. “We believe that once these standards are in use, school employees will have a better handle on their retirement plan options.”

The 403(b) Model Disclosure Form is available  here .

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