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What the judges say About The Principal 10 Best Companies for Employee Financial Security—2006

A distinguished panel of business leaders and benefits experts recently selected The Principal® 10 Best Companies for Employee Financial Security-2006.  The judges praised this year’s winners for their strong commitment, despite cost pressures, to their employees’ long-term financial security. Judges praised the winners for not only offering well-rounded benefits programs, but also for taking steps to helping employees take advantage of those programs with strong education and communication including one-on-one benefit guidance; automatic retirement savings options and growing wellness programs.   

“We saw in The Principal 10 Best a continued commitment to a broad range of benefits; looking very holistically at all of the income needs that an individual will have as they get into retirement. That means a commitment to things like insurance, short-term and long term disability, retiree medical and defined benefit plans.  In addition, we saw a commitment to 401(k) programs with increases in the employer match and accelerating eligibility.”   
- Nevin Adams, editor in chief - Plan Sponsor Magazine, Plansponsor.com

“Every employer is grappling with the high cost of medical coverage for employees. We saw firms reaching for a good balance between the cost of benefits on one hand and providing good coverage on the other.  We also saw The Principal 10 Best Companies not only providing benefits but enabling employees to make better use of those benefits.”
- Dan McCarthy FSA, MAAA Consulting Actuary Milliman USA

“It’s fantastic to see the wellness programs offered by the winners. And it’s also fantastic to see how employees are embracing them, and really trying to incorporate wellness into their lives.” 
- Nancy Ayres, general manager, Clipper Belt Lacer Company/FLEXCO, winner The Principal 10 Best Companies-2004

“I was impressed with the general commitment to their employees, not only retirement plans but medical care, life insurance and a full range of programs to provide employees with the financial security they will need at retirement.”
- Jeffrey J. McAulay, vice president, Finance and Administration, Moran Towing Corporation, winner The Principal 10 Best Companies-2005

“One of the most striking things about these winners is their exceptionally low turnover rates.  As other companies shrink their benefits, the companies that maintain that commitment to strong benefits are really going to have the pick of the labor crop. I think in the long run you’re going to see these companies remain the winners in the competition for talent.”
- Corey Rosen, executive director, National Center for Employee Ownership 

“We did have a very tight competition this year.  We had 15 companies that were absolutely outstanding. Thirty companies that, against most enterprises in the United States would stand out very proudly.  And narrowing that down to the 10 that are The Principal 10 Best, it was tough.” 
- Dallas Salisbury, president and CEO, Employee Benefit Research Institute 

“I’ve judged for a number of years and what is of most interest to me is the continuing high quality of benefits that these 10 best companies provide.  It’s been a very difficult up and down economic situation since the program began and certainly when you read the newspapers you would think the companies are all cutting their benefits back.  But in effect the 10 best companies each year provide very high quality benefits to their workers.”
- David Wray, president of the Profit Sharing/401(k) Council of America (PSCA)