Pensions & Investments Recognizes The Principal for 401(k) EducationThe Principal receives four Eddy Awards for education best practices
April 23, 2010 (Des Moines, IA) - Pensions & Investments, the international newspaper of money management, has recognized the Principal Financial Group® with four Eddy Awards for best practices in providing investment education to defined contribution plan participants.
"We believe an effective education program is essential to a retirement plan's success. As individuals continue to work to rebuild their finances, investment education takes on an even more critical role," said Monica Kirgan, vice president – national service director, The Principal®. "We strive to help plan sponsors increase the value of their retirement programs and are honored to be recognized for it."
The award-winning entries include:
- First place: An ongoing education campaign for Bailey Nurseries, Inc., launching its "nearing retirement" program. According to the judges, "the materials, offered in both English and Spanish, were easy to read and digest."
- Second place: A campaign for participants in Kawasaki Motors Corp., U.S.A.'s retirement plan to increase their 401(k) deferrals. Judges noted "one unusual feature: a postcard with a detachable magnet directing employees to the plan's Web site."
- Second place (tie): a "train-the-trainer" campaign for human resource directors at Community Health Systems, Inc., to successfully transition participants to The Principal. Judges highlighted the "separate brochure to list actions that needed to be taken during the conversion, rather than burying that information."
- Third place: An effort to address the financial crisis through a series of articles available in participant statements, online and via direct mail from The Principal. The pieces were "written clearly and laid out cleanly," said judges.
The Eddy Awards, presented annually by Pensions & Investments since 1995, recognize plan sponsors and service providers that epitomize the best practices in providing investment education to defined contribution plan participants.
For more information, visit Pensions & Investments at www.pionline.com.
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 $284.7 billion in assets under management and serves some 18.9 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 products and plan administrative services are provided by Principal Life Insurance Company, a member of the Principal Financial Group® (The Principal®), Des Moines, IA 50392.