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Small Businesses Keep Dreaming … and Growing

The Principal celebrates National Small Business Week with new tools

May 16, 2011 (Des Moines, IA) - During the last few years, small businesses across the country have been adding jobs and offering stability other companies have not been able to provide. In fact, U.S. small business owners plan to add nearly 3.8 million jobs this year, according to the latest Small Business Success Index[1].

During National Small Business Week, May 16-20, the Principal Financial Group® celebrates the success of small businesses by introducing new tools to keep them growing. To help these businesses, The Principal® offers new benchmarking tools and a tax credit calculator.

“This week we applaud small businesses for their tenacity to weather the financial crisis and dream again about the future,” said Amy Friedrich, vice president specialty benefits for the Principal Financial Group. “We’ve used our experience in working with small-to-medium-sized businesses to develop tools designed to help these businesses continue to survive and thrive.”

For growing businesses to attract and retain quality workers, their employee benefit package has to stack up to the competition. The latest benchmarking tool (PDF: 459 KB) shows benefits offered by award-winning small businesses and national averages so employers can see how they compare. The tool, which includes other considerations for brokers, allows owners to assess benefits beyond insurance and includes ways to better manage benefits.

This new tool is the latest in benefits best practices resources available specifically to small-to-medium-sized businesses. Other tools include:

“Small business owners recognize a strong employee benefits package usually pays off for the business as well as for employees,” notes Friedrich. “But, there’s no one-size-fits-all approach, which is why we work with advisors and their small business customers to find innovative ways to offer affordable benefits.”

Through additional tools like a tax calculator, owners can determine if they are eligible for a tax credit on their group health insurance premiums as part of the Patient Protection and Affordable Care Act. Many small businesses are eligible, yet only a quarter of small business owners realize they may qualify for credit.

For more news and insights from The Principal, connect with us on Twitter at: http://twitter.com/ThePrincipal.

About the Principal Financial Group

The Principal Financial Group® (The Principal®)[2] is a retirement and global asset management leader. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, investment services and insurance through its diverse family of financial services companies. A member of the FORTUNE 500®, the Principal Financial Group has $327.4 billion in assets under management[3] and serves some 16.4 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.

[1]
Released by the Center for Excellence in Service at the University of Maryland’s Robert H. Smith School of Business and partner Network Solutions LLC.
[2]
“The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
[3]
As of March 31, 2011.

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Call 515.246.4907 or see the full Media Relations contact list.

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