CB Fleet Company Inc. has hired an outside firm to help run its defined benefit pension program.
CB Fleet, Lynchburg, Va., a health and beauty product distributor, has selected Principal Financial Group Inc., Des Moines, Iowa, to handle recordkeeping services for the pension plan.
CB Fleet also has picked a registered investment advisor affiliated with Principal to help it allocate plan assets, Principal says.
The plan has about 450 members.
Principal has been helping CB Fleet run its defined contribution retirement plan since 1993.