Press Release

Principal® to Deliver Equity Compensation Plan Services as Part of Principal® Total Retirement Solutions Expansion

Issued by Principal Financial Group

Sept. 25, 2020

Uniquely integrates stock compensation with retirement plan services for simplified, technology driven experience for employers and employees.

September 24, 2020

Principal Financial Group® has teamed up with EQ U.S., part of Equiniti Group plc, a leader in 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.

“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.”

Principal® Equity Compensation Solutions

With 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.

Scheduled for onboarding of new plans in the first half of 2021, this integrated service solution features include:

• Single, 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 dollars while delivering a unified experience for employees.
• Talent Engagement. Supports employee recruitment, reward, retention, and can help them retire. Promotes employee loyalty and alignment between individual and company goals. employees will benefit by being able to see the full value of their benefits, along with education resources and tools all in one place.
• Technology that turns real time data into actionable insights. Can bring a new level of strategic thinking to finance, human resources and executive teams. Employees can also benefit from streamlined experience and holistic financial picture to help drive their retirement goals.
• Equips financial professionals with broader insight that can help clients make informed decisions. Supports streamlined consulting experience with retirement plan sponsors and employees, allowing them to seamlessly assess entire retirement plan and equity compensation program potential.

“Principal® Total Retirement Solutions, combined with EQ U.S. market-leading global technology platform for equity compensation plan services creates an experience designed to meet the needs we’ve heard from plan sponsors,” said Patterson. “We’ve built a powerful suite of features - from a holistic plan view that provides actionable intelligence and one source for financial wellness to time-saving efficiencies that help maximize recruitment and retention for businesses of all sizes.”

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