DES MOINES - Principal Financial Group and Golden Retirement Resources Inc. of New York will launch an individual retirement account program that will let retirees use their existing funds or other investments to design a personal retirement benefit plan.
The Principal Income IRA is designed to provide an income that investors cannot outlive while giving them control of their savings. Principal's advisers will be able to use Golden Retirement's RetireMentor system to help retirees convert their assets to secure income in an integrated rollover IRA.
The IRA, announced Thursday, will be available to Principal clients by the middle of next year. It will be distributed through the firm's existing sales channels.