Intuit Announces New Business Alliance

PRESS RELEASE

MOUNTAIN VIEW, Calif. and DES MOINES, Iowa - October 3, 2001 - The Principal Financial Group®, the nation's 401(k) leader, and Intuit Inc. today announced an agreement to jointly market and develop QuickBooks®-branded retirement solutions for businesses. Retirement services from The Principal® will be available to QuickBooks customers in the coming weeks. Future releases of QuickBooks will automate data transfer and simplify administration of the retirement solutions.

Under the agreement, Intuit will co-brand and market the new service to small and mid-sized businesses, including its nearly three million existing QuickBooks customers. The Principal Financial Group will deliver leading bundled retirement solutions, offering customers choice from a full spectrum of 401(k), SIMPLE IRA and SEP IRA plans.

"Just like accounting, managing an employee retirement program is complicated," said Elliot Cooperstone, vice president of Intuit's Employer Services Group. "At the same time, being able to offer a retirement plan is very important to business owners. We chose the best-of-the-best in The Principal Financial Group to give businesses something they've always wanted - an easy way to offer their employees a great retirement plan at a competitive price."

"As small- and mid-sized businesses work to compete with larger enterprises for employees, it becomes increasingly important to offer competitive benefits and retirement solutions," said J. Barry Griswell, president and CEO, The Principal. "The recent Principal Financial Well-Being Index revealed that 77% of American workers surveyed said that having a good benefits plan would keep them at their current employers.

"Even more impressive, 69% of respondents said a good benefits plan would encourage them to work harder and perform better," continued Mr. Griswell. "Through this arrangement, more small business owners will soon be able to offer very competitive programs to help them attract, retain and reward key people."

Today only 20 percent of small businesses offer an employer-sponsored retirement program for employees (EBRI 2001 Retirement Confidence Survey). Similarly, many QuickBooks customers do not have a formal retirement plan in place for employees.

You may like these other stories...

You probably don't want to think about how many times you access the File menu in Excel 2010 or 2013. Personally I think Excel 2010 has the best possible File menu arrangement, other than having Print Preview grafted...
Following other recent high-profile hacking events, investigators discovered yesterday that hackers broke into the draft work paper files of several famous CPA firms. Revealing images of the scantily clad documents have been...
For bitcoin users, the taxman cometh. And you best know how to calculate taxes owed on what the IRS calls convertible virtual currency.In March 2014, the IRS issued Notice 2014-21, which declares virtual currency will be...

Already a member? log in here.

Upcoming CPE Webinars

Sep 24
In this jam-packed presentation Excel expert David Ringstrom, CPA will give you a crash-course in creating spreadsheet-based dashboards. A dashboard condenses large amounts of data into a compact space, yet enables the end user to easily drill down into details when warranted.
Sep 30
This webcast will include discussions of important issues in SSARS No. 19 and the current status of proposed changes by the Accounting and Review Services Committee in these statements.
Oct 23
Amber Setter will show the value of leadership assessments as tools for individual and organizational leadership development initiatives.
Oct 30
Many Excel users have a love-hate relationship with workbook links. For the uninitiated, workbook links allow you to connect one Microsoft Excel spreadsheet to other spreadsheets, Word documents, databases, and even web pages.