Lockton Companies Selects the Principal Financial Group to Provide Retirement Plan Services

The Principal Financial Group® has been named the new retirement services provider for Lockton Companies, effective January 1, 2014. Based in Kansas City, Missouri, Lockton is the world's largest privately held insurance brokerage firm.

Lockton provides risk management, insurance and employee benefits consulting services to 35,000 clients worldwide. The Principal®, a recognized leader in participant services1, is managing Lockton's $375 million 401(k) plan that serves 3,300 eligible participants.

"Recognizing an opportunity to build on our successful physical wellness program, Lockton selected The Principal, in part, for one-on-one financial wellness planning through their Retire Secure Program," said Tom Clark, president of Lockton Investment Advisors. "They have the ability to link financial fitness to our overall program; ensuring Associates can ultimately retire healthy and financially independent."

Lockton's wellness program incorporates both health and financial wellness. Associates who attend a financial wellness planning meeting in 2014 are awarded with points they can redeem for wellness rewards.

Even with over 90 percent of Associates already participating in the retirement program, Lockton consulted with The Principal to elevate the success of the program by modifying its retirement plan design. Now new Associates are automatically enrolled at a six percent deferral rate with automatic annual percent increases of one percent up to 10 percent.

"Lockton is on the forefront with a holistic program that incorporates both health and financial wellness," said Jacque Mohs, vice president of retirement and investor services at The Principal. "Their progressive 401(k) plan is designed to encourage effective savings rates toward successful retirements. Lockton shares our passion for designing plans that help get participants on track for effective retirement savings. We are very excited to be selected by Lockton to help their Associates build financially secure futures."

The Principal surpassed the industry benchmark for nearly every attribute measured in the most recent Boston Research Group Survey2 of defined contribution plan sponsors. The Principal is the highest rated firm for being effective in helping participants reach their financial goals for retirement.

News Release Contact

Retirement Plans

Hillary Gebert

Lonnetta Ragland 

About Lockton Companies

More than 4,950 professionals at Lockton provide 35,000 clients around the world with risk management, insurance, and employee benefits consulting services that improve their businesses. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held insurance broker in the world and 9th largest overall.

Independent researcher Greenwich Associates has awarded Lockton its Service Excellence Award for risk management for large companies. For five consecutive years, Business Insurance has recognized Lockton as a "Best Place to Work in Insurance." For more information, visit www.lockton.com.

About the Principal Financial Group

The Principal Financial Group® (The Principal ®)3 is a global investment management leader offering retirement services, insurance solutions and asset management. The Principal offers businesses, individuals and institutional clients a wide range of financial products and services, including retirement, asset management and insurance through its diverse family of financial services companies. Founded in 1879 and a member of the FORTUNE 500®, the Principal Financial Group has $483.2 billion in assets under management4 and serves some 19.4 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. For more information, visit www.principal.com.

1 2013 Boston Research Group Defined Contribution Plan Study

2 Ibid.

3 "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.

4 As of December 31, 2013.