OneDigital and Simply Retirement by Principal® Partnership Featured in PLANADVISOR & PLANSPONSOR

November 19, 2023 OneDigital Newsroom

According to research conducted by Fidelity, only 34% of small businesses currently offer retirement savings to employees today.

Simply Retirement by Principal® will help remove complexities for small businesses and leverage the small business tax credits included in SECURE 2.0 to empower leaders to invest in their employees’ financial security.

PLANADVISOR explains that OneDigital and Principal’s partnership comes as more small businesses are set to offer workplace retirement plans, thanks to a combination of retirement plan incentives in the SECURE 2.0 Act of 2022 and state mandates to do so.

PLANSPONSOR describes the fact that clients will be able to work with OneDigital financial professionals via the Simply Retirement platform to design plans, make election decisions, sign required documents and view plan data.

OneDigital is the first advisory firm Principal has collaborated with to offer Simply Retirement by Principal® for small and midsize businesses, according to a spokesperson.

Studies show that insufficient workplace retirement options and low employee participation contribute to the lack of savings among many retiring Americans. In fact, only 42% of small businesses offer retirement benefits. Simply Retirement by Principal® will help remove complexities for small businesses and leverage the small business tax credits included in SECURE 2.0 to empower leaders to invest in their employees’ financial security.
 
— Julie Cape, Executive Vice President of Client Services, Enterprise & Select, OneDigital

Read the full articles from PLANADVISOR and PLANSPONSOR here.

To learn more about this partnership, view the recent release here: OneDigital Creates Access to Retirement Plan Solutions for Small Business Clients through Simply Retirement by Principal®.

The post OneDigital and Simply Retirement by Principal® Partnership Featured in PLANADVISOR & PLANSPONSOR appeared first on OneDigital.

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