A large retirement services vendor has signed a midsize client.
Quixote Corp., Chicago, a manufacturer of transportation of safety products and services, has agreed to buy 401(k) retirement plan services from Principal Financial Group Inc., Des Moines, Iowa.
The Quixote plans has about 900 participants and $22 million in transfer assets.
Quixote will be using a variety of Principal administration and education tools, including seminars, toll-free telephone counseling and Morningstar investment information.
Quixote also will be offering Principal lifecycle funds and managed account services on its 401(k) plan investment menu, Principal says.