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Principal Financial To Buy Actuarial Firm

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The Principal Financial Group has agreed to to acquire Retirement Consulting Actuaries Inc., a retirement and defined benefit actuarial consulting firm in Atlanta.

Principal, Des Moines, expects to close the deal Jan. 1. It did not disclose terms of the transaction.

RCA has 5 actuarial professionals, provides defined benefit actuarial, administrative and other services to nearly 100 firms in the Atlanta area.

The Principal says the acquisition would support its goal of increasing its actuarial and consulting expertise. With the completion of the deal, the company would offer actuarial consulting services in several regions, including Des Moines, Pittsburgh and Atlanta, with more than 350 retirement specialists and nearly 70 actuarial professionals devoted to defined benefit plans.