PAi launches strategic enhancement to its CoPilot retirement plan service with addition of Principal Guaranteed Option

DE PERE, Wis., June 11, 2020 /PRNewswire/ -- PAi, a leading 401(k) plan administrator and recordkeeper, has teamed with Principal® to launch an enhancement to its CoPilot service. This new CoPilot 401(k) offering incorporates investment fiduciary services of PAi Trust Company, Inc. (PAi Trust), Wilshire's investment management, and top tier investment strategies from Principal.

"With the recent market volatility, it's more important than ever for workers to know their 401(k) plan service provider can accommodate specific needs and preferences," Michael P. Kiley, Founder and CEO of PAi, said. "By adding Principal to our lineup, PAi can provide savers and financial advisors with additional retirement solutions."

PAi Trust hired Wilshire to select and approve the investment options offered in this new CoPilot 401(k) service, which has both fee-based and commission-based lineups.

"Wilshire is thrilled to continue the expansion of our services to plan sponsors utilizing PAi's CoPilot service," Jason Schwarz, Chief Operating Officer of Wilshire said. "Leveraging Wilshire's extensive resources and institutional expertise, these fund lineups and portfolios are an elegant solution for retirement readiness."

With recent market fluctuation, timing is appropriate for this team of companies to bring a new investment option to the market. The Principal Guaranteed Option is geared to minimize market risk by leveraging fixed income investment options that provided a guaranteed crediting rate.

"We're excited the service is now live in the marketplace to address the need we are all aware of in these uncertain times," said Rob Logan, Managing Director of Investment Only for Principal Global Investors. "The need for participants to have comfort in their capital preservation option is a significant concern and the selection of our Principal Guaranteed Option helps participants navigate volatile markets with a stronger level of predictability and stability addressed."

PAi's CoPilot service provides useful planning tools, systematic alerts and reminders to help keep participants on track to meet their retirement savings goals. Its unique Years of Retirement calculation allows savers to see how many years they can afford to be retired, while built-in messaging provides participation nudges along the way.

CoPilot provides online setup and enrollment, plus it can integrate with many payroll providers and HRIS/HCM systems. With integration, data is securely shared between systems, saving plan sponsors time and increasing data accuracy. This customer experience comes with PAi's dedication to offering cost effective retirement plan services to small businesses nationwide.

Learn more about how CoPilot is changing the retirement conversation with Principal at pai.com/principal/pgo.   

About PAi

Since 1983, PAi has helped people successfully save for retirement by changing retirement outcomes with participant-focused, easy-to-manage 401(k) retirement services. CoPilot, powered by PAi, is a do-it-for-you solution for business owners who want to focus on their business, not on managing a retirement plan. Learn more about PAi at https://www.pai.com.

About Wilshire

Wilshire Associates has been improving outcomes for investors worldwide for over four decades. Wilshire offers plan sponsors a range of investment solutions designed to help manage their fiduciary obligations. As 3(38) investment manager, Wilshire is responsible for fund selection and monitoring of the fund lineup and construction and oversight of the model portfolios. Wilshire's process leverages our extensive manager research resources and 40+ years working closely with institutional investors.

About Principal Global Investors®

Principal Global Investors® leads global asset management at Principal®. As a multi-boutique firm, we bring a focused perspective and offer expertise across a host of asset classes.

At our core, we are driven by our purpose to help investors and businesses achieve their financial goals. Our global investment professionals deliver investment solutions for public and private pension funds, foundations and endowments, central banks, insurance companies, sub-advisory arrangements, sovereign wealth funds and individual portfolios.

Principal Global Investors manages approximately $437 billion in assets on behalf of over 800 institutional clients located in more than 80 markets as well as retirement plans and individual clients, reflecting our worldwide market reach and experience and our commitment to high-quality research and service (as of March 31, 2020).

SOURCE PAi Retirement Services

Related Links

https://www.pai.com