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Principal Picks Veteran To Take Over Retirement Services

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NU Online News Service, July 16, 5:15 p.m. – The Principal Financial Group, Des Moines, Iowa, is starting to plan for the Jan. 31, 2002, retirement of Richard Prey, the executive vice president in charge of its retirement and investor services operations.

Larry Zimpleman, a senior vice president, will take charge of the retirement and investor services operations, and Daniel Houston, another senior vice president, will run the pension business unit, Principal says.

Zimpleman joined Principal in 1971 as a part-time actuarial student. He earned his bachelor’s degree and master’s degree in business administration from Drake University. He is a fellow of the Society of Actuaries, an enrolled actuary, a member of the American Academy of Actuaries, a member of the Des Moines Actuaries’ Club, and a past president of the American Academy of Actuaries. He is also a member of the board of the Society of Actuaries.

Houston joined Principal in 1984 as a group representative in the Dallas group and pension office. He received his bachelor’s degree from Iowa State University.

Prey, the departing executive, joined Principal as a pension administrator in 1965. He took charge of retirement and investor services in 1999. He is a trustee of the executive committee of the Employee Benefit Research Institute, Washington.