ABC selects Principal as 401(k) record keeper and trustee custodian.

After a diligent review of retirement plan providers conducted by the ABC Board of Directors and staff, we have selected Principal as our ongoing provider.

Principal acquired Wells Fargo’s Institutional Retirement and Trust (IRT) business in mid-2020. IRT is the division of Wells Fargo that currently provides recordkeeping and trustee services for our employee benefit plans.

Our evaluation process included the industry’s leading retirement providers and our selection criteria focused on provider attributes that would result in the highest level of  service and product features with institutional pricing to benefit plan participants.

IRT is already owned by the Principal organization, and we expect the transition of our plans to Principal’s platform to occur mid-year 2021. Please look for ongoing updates on new services and features that will be available.

If you have any questions, please feel free to contact us.

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