The Principal Financial Group Once Again Named Number One Deferred Compensation Plan Service Provider
(Des Moines, Iowa) — Plansponsor magazine has named the Principal Financial Group® the number one service provider of nonqualified deferred compensation plans, based on the total number of plans. Highly regarded by those in the employee benefits industry, Plansponsor is dedicated to helping employers design the best retirement plans and winning investment strategies. Results of the annual Nonqualified Deferred Compensation Plan Buyer's Guide are available at www.plansponsor.com.
"The Principal Financial Group is proud to be recognized by PLANSPONSOR for the fourth consecutive year, as we offer our expertise in plan design, financing options and administrative services for more than 2,200 nonqualified deferred compensation plans," said Deanna Strable, senior vice president of the individual life division at The Principal®.
The dedicated deferred compensation focus of The Principal has been of benefit to employers and financial professionals during this unprecedented current market environment, coupled with ongoing legislative changes related to nonqualified compensation.
"During turbulent economic times like these, it's important for business owners to carefully review their retirement programs and evaluate what they offer to reward and retain their key employees," said Gary Dorton, vice president of employer solutions and services for The Principal. "When the markets stabilize and the job market opens again, these key employees will have an even greater appreciation for employers who maintain these specialized retirement solutions, in both difficult and good times."
To help employers review their retirement programs, The Principal recently made available a new guide, Navigating Your Way through Market Turbulence. This guide takes an in-depth look at how the market volatility may be affecting nonqualified deferred compensation plans as well as other retirement plan types including: defined benefit, defined contribution and Employee Stock Ownership Plan. The guide helps employers work with their financial professional to make informed decisions about changes that may be needed as a result of the market unrest, even offering action steps to consider for each plan type.
The new guide is available in the retirement section of the Principal Research Center at www.principal.com/research.
About the Principal Financial Group
The Principal Financial Group® (The Principal®) 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 $287.4 billion in assets under management and serves some 19.0 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.