Memorial Hermann Healthcare System Selects the Principal Financial Group for Integrated Retirement Plan
August 4, 2008 (Des Moines, IA) — A world-class health care system has chosen the Principal Financial Group®, one of the nation’s retirement leaders1, as the integrated retirement plan service provider for its defined contribution and nonqualified plans. The contracts for Houston-based Memorial Hermann Healthcare System became effective March 1, 2008.
The plans serve more than 15,000 participants within 11 hospitals and numerous specialty facilities throughout the greater Houston community. Memorial Hermann offers world-class innovations, top-quality care and the resources of its university-affiliated teaching hospital in the Texas Medical Center.
“The unmatched knowledge and understanding of our philanthropic beliefs and workplace culture was a top reason we chose The Principal®,” said Debbie Lewis, system executive, human resources, Memorial Hermann. “The Principal also had the flexibility to meet our investment requirements and the technology to help reduce our administrative workload.”
The Principal is the No. 1 service provider of total retirement and combined plan solutions2, with nearly $40 billion in assets under management in the large plan market. “We’re honored to provide retirement services to Memorial Hermann, including a tailored, one-on-one employee education program, to help them attract and retain the people who are making a difference in their community,” said Larry Zimpleman, president and CEO, The Principal.
Memorial Hermann plan participants receive a comprehensive package of services and tools including:
- Online account information and education through the award-winning participant Web site www.principal.com3
- Interactive educational and asset allocation tools
- Morningstar investment information
- Easy-to-understand total retirement statements that feature a consolidated view of all Memorial Hermann retirement plans with services provided by The Principal
- On-site investment education and retirement planning seminars
- Toll-free access to retirement specialists
- Rollover assistance
- The quarterly magazine Plan Ahead. Get Ahead.®
These tools complement leading technology services at The Principal. For the past 10 years The Principal has appeared on the Information Week Top 500 Most Innovative Users of Information Technology list, coming in at No. 22 in 2007.
About Memorial Hermann Healthcare System
An integrated health system, Memorial Hermann is known for world-class clinical expertise, patient-centered care, leading edge technology, and innovation. The system, with its exceptional medical staff and 19,000 employees, serves southeast Texas and the greater Houston community. Memorial Hermann’s 11 hospitals include three hospitals in the Texas Medical Center, including a level 1 trauma center, a hospital for children and a rehabilitation hospital, as well as three heart and vascular institute locations and eight suburban hospitals. The system also operates an air ambulance, cancer, imaging and surgery centers, sports medicine and rehabilitation centers, outpatient laboratories, a Wellness Center, a chemical dependency treatment center, a home health agency, a retirement community and a nursing home. To learn more, visit www.memorialhermann.org or call 713-222-CARE.
About the Principal Financial Group
The Principal Financial Group® (The Principal ®)4 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $304.2 billion in assets under management5 and serves some 18.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
Insurance issued by Principal Life Insurance Company, member of the Principal Financial Group® (The Principal®), Des Moines IA 50392.
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1) The Principal ranks No. 1 in total plans for all asset sizes among fully bundled 401(k) providers (2008 Spectrem Group analysis of fully bundled 401(k) providers; companies that provide both administrative and investment services)
2)
2006 Chatham Partners Survey, Bundled Defined Benefit and Total Retirement Outsourcing
3)
Awarded Dalbar Communication Seal of Excellence, October 2007
4) "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
5) As of March 31, 2008
