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Retirement Plan Clients Give The Principal Thumbs-Up

Once again retirement plan clients give the Principal Financial Group ® high marks for satisfaction. Strong scores in client service drove the rankings in the 2013 Chatham Partners Client Satisfaction Survey of medium-to-large defined benefit and defined contribution plans 1. In a similar survey, clients with smaller retirement plans also gave The Principal ® high scores 2.

“Year after year The Principal continues to come out among the top competitors when it comes to satisfaction and loyalty. This demonstrates not only their leadership position within the industry, but also their commitment to putting customers first,” said Joshua Dietch, managing director of Chatham Partners.

Overall satisfaction with The Principal continues to be strong, with 97 percent of clients reporting satisfaction with their client service team and 97 percent saying they plan to maintain or increase their relationship with The Principal. Satisfaction with reducing administrative burden ranked particularly high with 96 percent of clients saying it’s easy to do business with The Principal.

Clients with medium-to-large retirement plans pointed specifically to investment services, plan design expertise and participant services, which all earned The Principal several “Best in Class” scores 3. Those clients with smaller retirement plans from The Principal report high satisfaction in the following key areas:

  • Timeliness of answering calls
  • Providing complete resolution to questions
  • Offering good value for the money spent

“We know our clients are focused on growing their business, which is why we focus on helping them build a successful retirement plan to help ease some of their burden,” said Greg Burrows, senior vice president of retirement and investor services at The Principal. “Our retirement plan design strategies, strong investment management expertise and innovative education and enrollment services help participants get on track to save for more adequate income in retirement. Our work doesn’t stop here – we continue to look at new ways to make it easy for plan sponsors and ultimately improve savings and participation rates.”

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