Principal Financial Group®, a top provider in pooled retirement plan services, has announced a strategic collaboration with FuturePlan. The firm has transitioned administrative responsibilities for its leading Pooled Employer Plan (PEP), Principal® EASE, to FuturePlan. This change took effect on July 1.

This move allows Principal to align its investment and recordkeeping solutions with the fiduciary expertise of leading third-party administrators (TPAs). The goal is to deliver a stronger, client-focused experience in the retirement plan space.

“As demand rises across the PEP and small- to mid-sized business (SMB) segments, we are refining our services to meet client expectations,” said Sean Jordan, vice president of Retirement and Income Solutions at Principal. He added that partnerships with TPAs and advisers help Principal deliver enhanced service and plan options.

According to Cerulli Associates, the number of 401(k) plans is expected to grow 66% by 2030, crossing the one million mark. This rising interest is prompting SMBs and advisers to explore PEPs as efficient, low-cost retirement solutions.

By naming FuturePlan as the new pooled plan provider, TPA, and 3(16) plan administrator for Principal® EASE, the company is doubling down on retirement innovation. The partnership aims to provide tailored support to plan sponsors and participants while unlocking long-term value.

“Working with Principal allows us to strengthen our retirement leadership,” said Kasey Price, president of FuturePlan. “This collaboration highlights our joint focus on client service, innovation, and operational excellence.”

Principal currently manages four PEPs, including three that rank among the industry’s largest by assets. Collectively, these plans serve over 750 employers and 86,000 participants. Principal® EASE continues to attract SMBs and new retirement plan sponsors. Nearly 70% of participating employers are offering retirement benefits for the first time, and 75% have 100 or fewer employees.

The partnership reinforces Principal’s strategy to support SMB growth while expanding its pooled retirement plan services with trusted experts like FuturePlan.

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News Source: Businesswire.com