Start-up retirement plans simplified
Establish start-up 401(k) plans for small businesses in a matter of days, not weeks, with this third party administrator (TPA) solution.
Establish start-up 401(k) plans for small businesses in a matter of days, not weeks, with this third party administrator (TPA) solution.
Finally, a straightforward solution for small business retirement plans.
Establishing a new retirement plan for a small business can take awhile. There’s information to verify. Documents to sign. Details to coordinate. We can help you speed up the process.
How do we do it? By pairing a competitive packaged product offering with innovative online technology. We’ve streamlined every step in the process—from the proposal to the creation and implementation of new small business retirement plans.
What Simply Retirement by Principal® can do for you
With Simply Retirement by Principal®, you have the flexibility to set up a plan that works for your small business clients without weeks of back-and-forth coordination. Just make selections and share your proposal with your client so they can complete the purchase. You can also workwith your clients' financial professional to select investment options.
Data collection, key decisions, and electronic document signatures are integrated in the process—saving you time. Most of the information you need is gathered on day one, so you can focus on what comes next: helping clients manage their day-to-day retirement plan responsibilities.
Business owners can take advantage of SECURE 2.0 Act tax credits to help offset up to 100% (up to $5,000 per tax year for the first three years for some employers) of the first three years of their plan startup costs.
Have more time to deliver value
This streamlined solution allows you to spend less time establishing plans so you can focus on providing expertise to your clients.
Create proposals faster
Here’s a simplified 401(k) plan design and onboarding process with an online experience that saves you time and gives you a competitive advantage.
Help your clients save more
A solution that has the same recordkeeping price for all customers. Period. And that price doesn’t change as your clients’ plan assets change.
Get a jump-start on day-to-day tasks
With Ubiquity’s online dashboard, you’ll have access to view client and plan details and efficiently manage key administrative tasks.
Simply Retirement by Principal® costs (TPA services not included)
Cost savings with flat-fee 401(k) plan pricing
Other 401(k) plans may increase recordkeeping fees to business owners as the total account balances increase. Not with the Simply Retirement by Principal® 401(k) plan. No guessing and no changes as employees contribute. It’s a predictable model you can plan for.
Two experienced brands.
One seamless solution.
Simply Retirement by Principal® is a collaboration between two companies that have helped thousands of small businesses navigate retirement plans successfully. It’s backed by more than 80 years of retirement expertise from * along with the 25-year track record of Ubiquity Retirement + Savings®. Once your clients purchase a plan, they’ll manage it on the same convenient digital platform used by more than*
Still have questions?
We have answers.
How will my third party administrator fees be paid?
Select client and participant level fees can be included in the fee proposal.
How can my clients benefit from SECURE 2.0 Act tax credits?
The SECURE 2.0 Act offers a tax credit that can help offset up to 100% (up to $5,000 per tax year for the first three years for some employers) for a new 401(k) plan. There’s also a tax credit for automatic enrollment, which is a feature of the Simply Retirement by Principal® plan.
SECURE 2.0 Act tax credit specificsWhat are my responsibilities as a TPA with this solution?
The TPA handles certain third-party plan administrator responsibilities, while Ubiquity provides the electronic portal as well as recordkeeping services.
How does this 401(k) plan compare to traditional plans?
Simply Retirement by Principal® is 100% online, from plan design and purchase to onboarding and administration. It’s also designed specifically for businesses with fewer than 100 employees.
401(k) plan comparison
Small business growth platform
With a Simply Retirement by Principal® plan, your client has access to Elevate by Principal, a powerful network, resource, and team of people in their corner. From data-driven insights to deep discounts on products and services, that a business owner uses every day, Elevate by Principal can provide what your client needs to take their business to the next level.
Intended for TPA and financial professional use.
1847653-092021