Establishing a new retirement plan for a small business can take up to six weeks or more. 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. So you can go from commitment to employee enrollment in as little as a week or less. There’s no other TPA solution like it in the market today.
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 Act 2.0 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.
This streamlined solution allows you to spend less time establishing plans so you can focus on providing expertise to your clients.
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.
A solution that has the same recordkeeping price for all customers. Period. And that price doesn’t change as your clients’ plan assets change.
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® is a collaboration between two companies that have helped thousands of small businesses navigate retirement plans successfully. It’s backed by more than 75 years of retirement expertise from * along with the 20-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?
TPAs bill the business owner separately for their TPA fees and receive compensation from Ubiquity for distributions.4
How can my clients benefit from SECURE Act 2.0 tax credits?
The SECURE Act 2.0 offers a tax credit that can help offset up to 100%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 Act 2.0 tax credit specifics
What 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
Intended for TPA and financial professional use.1847653-092021