A 401(k) solution makes starting retirement plans easy
ATLANTA, November 7, 2023 /PRNewswire/ — Small businesses continue to prioritize attracting and retaining top talent, and 9 in 10 employees agree that saving for retirement is important to their financial security.1 OneDigital and Principal Financial Group to help small businesses manage employee expectations to support retirement savings® They have partnered to offer the Simply Scholarship by Principal® to OneDigital customers.
Mere retirement by the principal® Designed for businesses with fewer than 100 employees, it’s a low-cost, easy-to-use 401(k) solution that can reduce barriers to new plan adoption, such as time, HR resources, and compliance oversight.
“Studies show that insufficient workplace retirement options and low employee participation contribute to a lack of savings among many retired Americans. In fact, only 42% of small businesses offer retirement benefits.”2 he said Julie Cape, Executive Vice President of Client Services, Enterprise and Choice at OneDigital. “Don’t just retire by Principal, taking advantage of our unique vantage point through our co-employer relationship® will help eliminate complexities for small businesses and leverage the small business tax credits included in SECURE 2.0 to allow leaders to invest in the financial security of their employees.”
Retire simply by Principal, simplifying the process of setting up and managing a retirement plan® payroll integration helps reduce management and risk associated with data collection and investment selection. Clients work with financial specialist OneDigital to engage with the Simply Retirement digital platform by Principal.® design plans, make selections, sign required documents and view plan information.
“It’s been years, director® valued our relationship with OneDigital to serve the employee benefit needs of small and medium businesses,” he said. Scott Boyd, Senior Vice President of Retirement and Income Affairs at Principal. “Expanding our relationship to include a 401(k) plan that utilizes Just Retirement by Principal® is another example of our commitment to working with SMEs to support the growth of their businesses and the financial goals of their employees.”
For more information on Simply Retirement by Principal® Visit simplerretirement.com/onedigital with OneDigital.
1main® health index, February 2023
2 LIMRA, January 2019
About Principal Financial Group®
Core Financial Group® (Nasdaq: PFG) is a global financial company with 19,500 employees1 passionate about improving the wealth and prosperity of people and businesses. For more than 140 years, we’ve helped more than 61 million customers1 plan, protect, invest and retire while working to support the communities where we do business and build a diverse, inclusive workforce. main® 2023 is proud to be recognized as one of the World’s Most Ethical Companies® By Ethisphere2Member of the Bloomberg Gender Equality Index and “Best Places to Work in Money Management”3.” Learn more about Principal and our commitment to building a better future at principal.com. 3204727-112023
1 whom September 30, 2023
2 Ethisphere, 2023
3 Pensions and Investments, 2022
OneDigital’s fierce team of advocates helps businesses and individuals achieve their dreams of health, success and financial security. Our insurance, financial services and HR platform provide customized, technology-enabled solutions for the modern work life experience. Known for our caring culture, OneDigital teams enable employers and individuals to do their best work and live their best lives. More than 75,000 employers and millions of people rely on our teams for advisory and fully integrated workplace products and services, as well as retirement and wealth management advice provided through OneDigital Investment Advisors. It was founded in 2000 and is headquartered here Atlanta, OneDigital maintains offices in most major markets across the country. For more information, visit onedigital.com.
Investment advice offered through OneDigital Investment Advisors, LLC, an SEC-registered investment advisor and wholly-owned subsidiary of OneDigital.
Main: Phillip Nicolino, [email protected](515) 362-0239
OneDigital: Chelsea McKenna, [email protected](860) 455-3936