As a member of the National Association of Manufacturers (NAM), you have the opportunity to provide your employees with a new kind of retirement solution. This robust plan helps take the brunt of daily administration off your plate so that you can have the time to focus your efforts on other initiatives, like building your business.
Take a moment to hear from Jay Timmons, President and CEO of the NAM.
Not a member today? That's ok.
Continue on to learn more about the benefits of participating in the plan.
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When you’re part of a multiple employer plan (MEP), you can help your employees maximize their potential for retirement planning. This plan is designed to help save time and simplify plan administration for your company. By participating in the Manufacturers Retirement & Savings Plan you gain the expertise, knowledge, and capabilities from a team of dedicated professionals to reduce your fiduciary risk all while helping improve retirement outcomes for your employees.*
Take advantage of the Manufacturers Retirement & Savings Plan to help make life simpler for you—from transition to ongoing operation.
Eases the process of joining the plan with a qualified default investment alternative (QDIA) eligible transition method
Streamlines key plan design features, leveraging best practices
Uses an efficient investment selection process with an all zero-revenue investment lineup from a 3(38) professional
Reduces your direct involvement and can help reduce the costs associated with:
Supports your employees with holistic financial wellness and safeguarding data
Employers, many in search of talent, are poised to bolster retirement planning and benefits. Just 39% of plan sponsors feel their employees are doing a good job preparing for retirement and a mere 15% feel their employees will have enough money saved. That said, they know offering a retirement plan is important for maintaining their workforce, with about half citing retention and attraction as a top reason to offer a plan, and 61% feeling it's important for employees to participate.3
The NAM is dedicated to building a better tomorrow for its members. That's why they've chosen Principal® to provide a robust participant experience for those participating in the MEP. With Principal, your employees will have the help they need with the goal of making them feel prepared for life’s milestones, confident to take the next step, and secure about tomorrow –all in one place.
Employees who sign up for salary deferral are putting away nearly 8% on average.4
Over 30% are saving 10% or more.4
And for those who decide to save gradually, 1 in 3 are auto-escalating their way up to 10%.4
Tell us about you and your company. We’ll reach out to you to discuss next steps.
* The decision to participate in the MEP is the fiduciary responsibility of the adopting employer.
1 Investment Advisory services offered through Global Retirement Partners, LLC (GRP), an SEC registered investment advisor.
2 ©Escalent. Cogent Syndicated, Retirement Plan Advisor Trends, September 2022.
3 Principal® Retirement Security Survey - Plan Sponsor Q1 2022.
4 Principal® Real Start Q2 2023.
PQ13043C-01 | 3140138-092023