NU Online News Service, Aug. 11, 2004, 3:10 p.m. EDT
The Principal Financial Group is offering a way to spur employees to set more money aside for retirement.[@@]
The Principal, Des Moines, Iowa, has introduced a “Step Ahead Retirement Option” feature to its retirement plans to allow participants to increase their contributions automatically each year by a specified percentage. The object of the option is to overcome employee procrastination about increasing the rate of their retirement savings as their pay levels go up, the Principal says.