We are not moving our retirement plan business from The Principal. It was only requested that the new T.Rowe Price Retirement R Funds replace The Principal Lifetime Funds. These new T. Rowe Price Retirement R Funds will be the only T. Rowe Price funds that we offer.
We have also requested the addition of two new investment options, American Century Inflation Adjusted Bond a Fund and American Funds Capital World Bond R-3 Fund, to provide wider investment diversity for our employees. All other current investment funds will remain the same.
If you had investments in The Principal Lifetime Funds, please log on to The Principal website at http://www.principal.com/ and verify that the transition to the T.Rowe Price Retirement R Funds took place.
As a reminder, these decisions were made by the Whitworth Retirement Plan Committee, which acts as fiduciary for Whitworth’s retirement plan by selecting and monitoring the investment options made available to employees. The committee’s goal is to select plan-offered investment vehicles that:
- provide exposure to a wide range of asset classes with varying risk/reward profiles;
- maximize return for a given level of risk;
- provide risk and return characteristics comparable to similar investment options;
- and minimize management and other expenses.
