Principal Toolkit Aids with Disclosures

The Principal Financial Group has unveiled new tools to help plans comply with new disclosure mandates for the Form 5500 and new requirements for retirement plan financial statements (FAS No. 157).

A Principal news release said the materials include help for 403(b) sponsors who now have to file a Form 5500.

The new offerings include:

  • A white paper, “The Road to Transparency: Form 5500 Annual Reporting, 403(b) Plans and Fair Value Measurements (FAS 157).”
  • A Form 5500 Quick Reference Guide.
  • A review of “Value and Reporting of Retirement Plan Assets—FAS No. 157.”
  • A fiduciary handbook: “Understanding and Managing Fiduciary Responsibility.”

“These are sweeping changes in retirement plan reporting. For the first time, plan sponsors will have to formally document information they haven’t had to set in writing before,” said Aaron Friedman, national non-profit practice leader for The Principal, in the announcement. “That will be no small task. Our new tools will help them collect and file the information they need and understand how to report it when the time comes.”