To integrate the administration of our Swift's 401(k) and non-qualified plans
Swift Transportation has selected the Principal Financial Group, a provider of 401(k) plans, as its defined contribution and non-qualified plan service provider.
Swift operates fleet of truckload carrier equipment in the US from 40 major terminals in 26 states and Mexico.
Cheryl Maccano, director of benefits at Swift, said: “We were impressed by the ability of The Principal to bundle and integrate the administration of our 401(k) and non-qualified plans, resulting in cost efficiencies. Fiduciary support is also important to us, and The Principal delivers administrative services, employee education and a broad range of investment options to minimize risk, stay in compliance and proactively manage our retirement plans.”
The consultant advising Swift’s retirement program is Kathleen Kelly of Compass Financial Partners. Mr kelly said that apart from providing capabilities to assist Swift in outsourcing and streamlining administrative functions of the plan, The Principal demonstrated both their ability and experience in addressing the communication needs of Swift’s multi-location, mobile workforce.