Close Close

Retirement Planning > Retirement Investing

Race Tracks Choose Retirement Services Vendor

Your article was successfully shared with the contacts you provided.

The Federation of California Racing Associations has hired Principal Financial Inc. to provide defined benefit pension plan services for a plan with 750 participants and $53 million in transfer assets.

The federation represents 8 racing association and 9 racing fairs, according to Principal, Des Moines, Iowa.

Principal has managed a portion of the association’s defined benefit plan assets since 2004.

The company now will provide a package of services that includes recordkeeping, investment and actuarial services.