Principal Financial Group has introduced My Virtual Coach, a new interactive resource that helps retirement plan participants make successful, informed decisions about their retirement savings for the future.
My Virtual Coach is a personalized enrollment and education experience for retirement plan participants of The Principal. In less than 10 minutes, the resource walks participants through savings and investment decisions, and empowers them to take immediate action as they step through the enrollment process.
This tool is part of Principal PlanWorks, The Principal’s integrated approach to retirement readiness that includes plan design, participant experience and strategic measures. My Virtual Coach is available for all participants as part of our engaging online experience, and it doesn’t have any additional cost, The Principal tells PLANADVISER.
Participants will be able to access this tool online and review topics based on their plan design, including enrollment. The customization comes from the recordkeeping The Principal already does for its clients as well as the participant’s own interest/decisions. The Principal will promote the content to participants as can their employer or financial professional; participants may also interact with content once logged into their account.
A demo of the resource is online here.