The Principal Announces New TPA Expense Allowance Program
DES MOINES, IA, December 10, 2009 -- To help third party administrators (TPAs) be more competitive and attract more sales, the Principal Financial Group® announces a new expense allowance program.
Available during the first quarter of 2010, The Principal® is offering a transition expense allowance to help offset the TPA fees during the first year with The Principal. The TPA has the ability to pass that savings on to the plan sponsor client.
"We understand TPAs need to be competitive in every prospect situation so we are very excited to announce this new program," said Jeff Schreiber, vice president of TPA business development at The Principal. "The expense allowance program will give TPAs an edge with potential clients. It is just one more example of our dedication to the TPA marketplace."
The Principal recently announced other enhancements to the Principal TPA EdgeSM program that provide more flexibility in servicing their clients with improvements to its unbundled service model, pricing and technology platform.
About the Principal Financial Group
The Principal Financial Group® (The Principal®) is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $280.4 billion in assets under management and serves some 18.6 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.
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