Retirement Wellness Planner from The Principal Helps Participants Visualize Goals
December 22 2014 - 9:26AM
Business Wire
Planning resource is key feature of new
participant digital experience
As part of its new digital experience for participants, the
Principal Financial Group® has introduced an interactive Retirement
Wellness Planner to help users easily manage, visualize and plan
for their retirement savings goals.
The Retirement Wellness Planner includes interactive sliders,
intuitive prompts and a real-time savings graph that focuses on
monthly income in retirement and how long that income may last.
Participants are able to take immediate action—such as increasing
deferrals—within the planner itself.
“Personalization of the online experience is where we can
deliver the greatest value to our participants,” said Jerry
Patterson, senior vice president of retirement and investor
services at The Principal®. “We want users to quickly and easily
see how adjusting their own specific inputs can help boost their
financial security in retirement.”
The Retirement Wellness Planner includes detailed,
participant-specific attributes such as desired retirement age,
employer match, salary and Social Security assumptions. Users can
adjust their inputs to instantly see how changes would impact their
monthly income in retirement.
The planner incorporates the Retirement Wellness Score,
introduced earlier this fall, which represents the percentage of a
participant’s pre-retirement income that they are able to maintain
at retirement, ranging from zero percent to 100+ percent. The score
is embedded in an intuitive, color-coded band that represents
different ranges of income replacement.
For participants with plans administered by The Principal, the
Retirement Wellness Planner is pre-populated with
participant-specific information. A public version of the planner,
where users enter their own information, is available here.
The Retirement Wellness Planner is a key feature within a new,
mobile-friendly digital experience for participants, including
improved account management, a simple online and text enrollment
process and new educational resources and services. The refreshed
design and functionality is based on feedback from participants,
plan sponsors, advisors and experts in behavioral finance and
digital design.
“Now that the new digital platform has been rolled out to all
participants, we are excited to receive feedback and continue to
improve upon the experience,” Patterson said.
The enhanced online experience is part of Principal® PlanWorks,
a new approach to workplace retirement readiness that includes a
platform of capabilities and services designed to make retirement
plans work better for both participants and plan sponsors.
PlanWorks is made up of three key components—plan design,
participant experience and strategic measures—to help drive
successful retirement outcomes.
For more research, analysis and insights from The Principal®,
visit The Principal Knowledge Center and connect with us on
Twitter.
About the Principal Financial GroupThe Principal
Financial Group® (The Principal®)1 is a global investment
management leader offering retirement services, insurance solutions
and asset management. The Principal offers businesses, individuals
and institutional clients a wide range of financial products and
services, including retirement, asset management and insurance
through its diverse family of financial services companies. Founded
in 1879 and a member of the FORTUNE 500®, the Principal Financial
Group has $513.5 billion in assets under management2 and serves
some 19.5 million customers worldwide from offices in Asia,
Australia, Europe, Latin America and the United States. Principal
Financial Group, Inc. is traded on the New York Stock Exchange
under the ticker symbol PFG. For more information, visit
www.principal.com.
1 “The Principal Financial Group” and “The Principal” are
registered service marks of Principal Financial Services, Inc., a
member of the Principal Financial Group.2 As of Sept. 30, 2014.
Principal Financial GroupJaime Naig,
515-247-0798naig.jaime@principal.com
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