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Principal Lands Large Hospital Retirement Deal

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The Principal Financial Group Inc. has landed the retirement planning business of a major New York medical center.

Montefiore Medical Center in the Bronx, with about 11,000 employees and more than $1 billion in 403(b) retirement plan assets, will use products and educational services from Principal, Des Moines, Iowa.

The hospital represents annual retirement plan deposits of about $65 million, Principal says.


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