The Principal Financial Group is a leading global financial company offering businesses, individuals and institutional clients a wide range of financial products and services including retirement solutions, life and health insurance, wellness programs, and investment and banking products.
The Principal offers workplace retirement plans and programs including 401(k), 403(b), defined benefit plans, Employer Stock Ownership Plans (ESOP), nonqualified deferred compensation plans, group annuities, individual 401(k)s, SIMPLE & SEP IRAs for non-profit, government, union and for-profit organizations of all sizes.
The Principal offers investment opportunities for individuals as well, including mutual funds, annuities, rollover IRAs, traditional and Roth IRAs, as well as retirement planning and investment tools and education for savers in all life stages.
The company reported a record $519.3 billion in assets under management at the end of 2014 and serves some 19.7 million customers worldwide from offices in 12 countries throughout Asia, Australia, Europe, Latin America and the United States.
In 2014, The Principal reported revenues of $10.55 billion, up 10% from the year before, and net income of $1.11 billion.
鈥淲e delivered outstanding results in 2014. Despite the headwinds of a strengthening U.S. dollar and lower interest rates, we grew operating earnings and earnings per share by 24 percent over 2013 and delivered $18 billion of net cash flows, driving assets under management to a record $519 billion,鈥?said Larry Zimpleman, chairman and chief executive officer. 鈥淲ith our recent announcement to acquire AXA鈥檚 Hong Kong pension business, we continue to position ourselves as a global leader in investment management and retirement. We are well positioned for continued growth in 2015 and beyond.鈥?
On July 1, 1879, Edward Temple and his colleagues established a new insurance company, the Bankers Life Association. Only men between 21 and 55 who were healthy and in low-risk occupations could be members. Women were excluded because childbirth - their main occupation at the time -- was deemed too hazardous. If a death was caused by drinking or drug use, death benefits were not awarded. Despite these restrictions, the company grew quickly.
Bankers Life became Principal Financial Group in 1985 to give it a new identity after creating various new financial subsidiaries.
The company would go public in 2001.
You can elect medical (includes prescription drugs), dental,
and vision coverage for you and your family, including a domestic
partner. The company pays for a portion of your medical and dental
coverage, and coverage begins on your start date.
401(k) plan -
This tax-deferred plan allows you to contribute a percentage
of your income into a 401(k) account. The company will even match
a portion of your contribution.
Personal Time Off allows
employees to take time off for vacations, dependent care and
Updated February 17, 2015