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Principal Creates ESOP Tool

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An insurer has developed a Web-based system aimed at companies with employee stock ownership plans.

Principal Financial Group Inc., Des Moines, Iowa, says its new My Principal ESOP Repurchase Liability Solution tool will give sponsors the ability to use information about a company’s compensation levels, vesting schedules, turnover rates and other characteristics to analyze how much cash the company will need to cover the cost of distributions to participants who leave the company.

The My PERLS system will be available in early 2008, and Principal will be offering it as a standard feature for Principal ESOP clients, the company says.


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