PAi Launches Strategic Enhancement to Its CoPilot Retirement Plan Service With Addition of Principal Guaranteed Option

PAi, a leading 401(k) plan administrator and recordkeeper, has teamed with Principal to launch an enhancement to its CoPilot service. This new CoPilot 401(k) offering incorporates investment fiduciary services of PAi Trust Company, Inc. (PAi Trust), Wilshire’s investment management, and top tier investment strategies from Principal.

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“With the recent market volatility, it’s more important than ever for workers to know their 401(k) plan service provider can accommodate specific needs and preferences,” Michael P. Kiley, Founder and CEO of PAi, said. “By adding Principal to our lineup, PAi can provide savers and financial advisors with additional retirement solutions.”

PAi Trust hired Wilshire to select and approve the investment options offered in this new CoPilot 401(k) service, which has both fee-based and commission-based lineups.

“Wilshire is thrilled to continue the expansion of our services to plan sponsors utilizing PAi’s CoPilot service,” Jason Schwarz, Chief Operating Officer of Wilshire said. “Leveraging Wilshire’s extensive resources and institutional expertise, these fund lineups and portfolios are an elegant solution for retirement readiness.”

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With recent market fluctuation, timing is appropriate for this team of companies to bring a new investment option to the market. The Principal Guaranteed Option is geared to minimize market risk by leveraging fixed income investment options that provided a guaranteed crediting rate.

“We’re excited the service is now live in the marketplace to address the need we are all aware of in these uncertain times,” said Rob Logan, Managing Director of Investment Only for Principal Global Investors. “The need for participants to have comfort in their capital preservation option is a significant concern and the selection of our Principal Guaranteed Option helps participants navigate volatile markets with a stronger level of predictability and stability addressed.”

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