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Principal Program Explains Value Of DB Pension Plans

By Staff Writer

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NU Online News Service, June 28, 2004, 5:30 p.m. EDT

Principal Financial Group Inc., Des Moines, Iowa, wants to help members of defined benefit pension plans understand their benefits.[@@]

Principal and its competitors have been racing to introduce educational programs for workers who must manage their own 401(k) plan assets. Now Principal has developed the Principal Hire Through Retire program for members of defined benefit plans.

The program educates employees about the value of participating in a program that will pay a pre-defined amount of retirement benefits, Principal says.