SS&C Selected to Support Principal Retirement Income Offering
Principal Financial Group has selected SS&C Retirement Solutions to support connectivity and administration for its growing retirement income suite, using SS&C's Retirement Income Clearing & Calculation (RICC) platform. Principal frames the move as addressing plan-sponsor demand for portability and standardized connectivity as employees shift from accumulation to income; the engagement extends a long-term relationship that already includes SS&C fund services. SS&C's RICC platform is on track to connect seven major recordkeepers representing $6.6 trillion in assets under administration and 70 million participants by the end of the year.
Key figures
- Ricc aua
- $6.6 trillion
- Ricc timeframe
- by end of the year
- Ricc participants
- 70 million
- Ricc recordkeepers
- 7
AI analysis
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