Similar to Amway, Principal® has an authentic culture built on our Midwest roots that we're proud of. Also similar to Amway, our company has grown to represent a global footprint that stretches across more than 20 diverse regions with customers in more than 80 nations and territories. Through our success, we both have witnessed the important roles our organizations play in the lives of our customers, and we both know how critical our employees are in bringing to life our positive culture and vision for the future. Below examples of our shared values:
We both believe our success depends on diversity and inclusion. That's why we focus on creating a workplace where everyone is comfortable. We also share the belief that when you find the right people, you strive to keep them in your workforce developing their talents along the way.
We value the importance of relationships. We thrive on helping you be successful. We won't force you into a box; we'll create processes that work for you and your plans. Our flexibility in designing and implementing administrative processes for Amway can reduce your workload and efficiently help you administer your retirement program.
We provide a streamlined HSA integration service with three of the leading HSA providers, including OptumBank®, Amway’s HSA provider. Employees can choose to integrate their HSA balances into their Retirement Wellness Planner and Score so they can view their combined retirement balance in a more streamlined way. After providing authorization, the employee's HSA cash and investment balance (if applicable) will be shown on the External Accounts page and the investment balance will be automatically reflected in their personalized Retirement Wellness Score and within the Planner. Employees can also include their HSA cash balance in this view if they choose. Additionally, employees are able to access details of their HSA on OptumBank's website through secure, single sign on technology.
With Principal® Total Retirement Solutions you'll have one simple experience on a streamlined digital platform with one experienced relationship manager and one experienced team instead of multiple service providers. Plus, your employees can check their retirement benefits with just one click, one call, one app.
As a top service provider, our capabilities can help you manage the complexities of multiple retirement plans. Click on the circles to learn more about our services.
With Principal®, you and your participants can take advantage of having a single, comprehensive service focused partner who provides consulting on plan design, financing options, implementation, administrative services, and a robust participant experience all in one tailored offering. As the #1 provider of nonqualified deferred compensation plans, Principal® works with more NQ plans than the next 3 competitors combined.4 We do much more than administer these plans; we support the design and financing of nonqualified plans for our clients and have been doing this for over 40 years.1 Our specialized solutions can provide savings opportunities to supplement retirement income beyond qualified retirement plans, helping plan sponsors recruit, retain, and reward key employees.
Unlike other providers, retirement is at the heart of our business. Retirement and asset management operations represent 95% of our assets under management.1 We're committed to serving our retirement clients and investing in our business.
Our onboarding experience is transcreated in Spanish to help ensure content is culturally relevant and drives action. The Principal® Hola Futuro website features educational content about retirement savings and the importance of preparing for the future to support your Spanish speaking employees.
Dedicated team. Your long-tenured service team will onboard your plan, oversee daily operations, educate your employees, and consult with you on plan design.
Consulting services. Our retirement plan consulting team can bring you forward-thinking strategies that can lead to increased efficiency, improved participant preparation for retirement, and lightened administrative load.
Participant dashboards. View participation rate reports, distribute educational content to your employees, model changes to your plan, and more with our participant dashboards.
Investment flexibility. You’ll have access to an extensive mutual fund network for your plan, along with robust investment solutions designed to help meet your participants' investing preferences.
Compliance support. File all forms and schedules directly from our plan sponsor website.6 We’ll even remind you to complete a Form 5500 Questionnaire.
Audit reporting. Complete your audit quickly and more efficiently with self-serve audit reports. Plus, get in-the-moment answers to your audit-related questions through our audit support hotline and virtual assistant.
Say hello to a personalized welcome.
Take retirement to the next level.
You and your participants will have access to a U.S.-based team of our most experienced retirement specialists within our Elite Service Team. This team serves a small group of relationships. Members of this team have received one or two promotions prior to being named to the Elite Service Team and have an average tenure of eight years.5
Members of the Elite Service Team will receive training on Amway’s plans. Detailed materials outlining Amway’s plan design and culture will be prepared by your dedicated service team and Senior Retirement Specialist assigned to Amway within the participant contact center. Amway is welcome to share in this presentation if you choose to include more detail on your plans and organization's culture. We often focus the training on plan provisions, investments, any customized services, and your culture. Our goal is to prepare our retirement specialists to be in tune to and anticipate participant concerns to ensure a smooth transition and on-going service.
Principal Retire SecureSM allows participants to schedule virtual or in-person one-on-one meetings with a member of the Retire Secure team, giving them the opportunity to discuss their retirement goals and the steps to take to achieve them, incorporating all plan types and assets, including those outside of the plan. Our virtual meetings include a visual component which allows participants to see the retirement specialist during their one-on-one meeting. Plus, it’s available in Spanish.
During a meeting, a Retire Secure professional will help employees:
