DES MOINES, Iowa - (Business Wire) National 401(k) Day is Sept. 5 and the Principal Financial Group
® is reminding workers that they are in control of their own financial future.
“We understand the current economy is forcing Americans to make tough choices when it comes to retirement saving,” said Dan Houston, president of retirement and investor services at The Principal®. “But now is not the time to sell yourself short on your long-term plans for retirement.”
According to internal data, retirement plan participants who took advantage of the one-on-one worksite program offered by The Principal have increased their participation and savings rates from second quarter 2007 to second quarter 2008.
“It appears personalized, one-on-one education at the worksite is helping employees stay focused on their long-term goals,” Houston said. “We’re encouraged our 401(k) plan participants are making it a priority to continue saving for retirement during these tougher economic times.”
401(k) Day is an annual celebration by The Profit Sharing/401k Council of America (PSCA) to spotlight the importance of employer-sponsored retirement plans and draw attention to the increasing need for American workers to save for retirement. The theme of this year’s celebration is “You’re in Control.” The Principal has been a sponsor of 401(k) Day for the past seven years.
For more information about 401(k) Day 2008, visit www.principal.com/401kday or www.401kday.org.
401-K Challenge Winner Named
As another reminder for those saving for retirement to not strike out when it comes to their financial security, The Principal sponsors the Principal Financial Group Family Fun Fest 401-K Challenge. This friendly rivalry among minor league baseball teams takes place annually as part of the world’s largest traveling baseball celebration, which toured 51 cities in the 2008 season.
The Iowa Cubs were the first minor league baseball team to reach 401 strikeouts – or Ks – at home during the 2008 Principal Financial Group Family Fun Fest 401-K Challenge. The team reached the milestone on July 8, 2008, when Cubs pitcher Carmen Pignatiello struck out Round Rock Express batter John Ash. The Huntsville Stars won the title in 2007.
Held alongside the 401-K Challenge for the teams is a 401-K Sweepstakes for fans. The grand prize is $5,000 to help one lucky fan secure his or her financial future. This year’s $5,000 sweepstakes winner is Iowa Cubs fan Martin Foster. His name was drawn at random from those who correctly guessed the Iowa Cubs would win the 401-K Challenge.
About the Principal Financial Group
The Principal Financial Group® (The Principal®)1 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $308.0 billion in assets under management2 and serves some 19.0 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.
1 “The Principal Financial Group” and “The Principal” are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group
2 As of June 30, 2008
The Principal Financial Group
Jaime Naig, 515-247-0798
naig.jaime@principal.com
or
Terri Hale, 515-283-8858
hale.terri@principal.com
