Burns & McDonnell Selects the Principal Financial Group for Total Retirement Program.Combined plan assets total $770 million DES MOINES, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation). Des Moines (pronounced /dɪˈmɔɪn/ in English, -- One of the nation's largest engineering, architectural and construction firms has chosen the Principal Financial Group([R]) to provide retirement plan services, giving employees a consolidated view of accounts. The contract became effective October 1, 2007. The Principal([R]) has been the employee stock ownership plan (ESOP ESOP See: Employee Stock Ownership Plan ESOP See Employee Stock Ownership Plan (ESOP). ) service provider for Kansas City-based Burns & McDonnell since 2003. The Principal will now be providing defined contribution 401(k) plan services and enhanced ESOP plan services for the firm. Combined assets for the Burns & McDonnell ESOP and 401(k) plans are approximately $770 million. Annual deposits from the plans' 2,200 participants are estimated at $23 million. "We are excited about the increased efficiency and cost savings of having both our ESOP and 401(k) plans serviced by The Principal," said Denny Scott, chief administrative officer A chief administrative officer (CAO) is responsible for administrative management of private, public or governmental corporations. The CAO is one of the highest ranking members of an organization, managing daily operations and usually reporting directly to the chief executive , Burns & McDonnell. The Principal is a leader in the ESOP marketplace, serving almost half of the nation's 100 majority-owned ESOP companies1. It will continue to provide Burns & McDonnell with innovative ESOP plan features such as Principal e-Distribution Services(SM), a first-of-its-kind package of online services that automate the ESOP distribution process. "We are delighted that Burns & McDonnell chose The Principal for our retirement and technological expertise in helping their participants save for a more secure retirement," says Paul Brown For the politician, see Paul Brown (Georgia politician). Paul Eugene Brown (September 7, 1908 - August 5, 1991) was a coach in American football and a major figure in the development of the National Football League. , vice president of retirement and investor services at The Principal. "Combining 401(k) plan services with the ESOP gives plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. the advantage of a consolidated view of their employer's retirement plans." The comprehensive package of services and tools available to Burns & McDonnell plan participants includes: * online account information and education through the award-winning Web site, The Principal Retirement Service Center([R]) (www.principal.com)2; * interactive educational tools; * easy-to-understand total retirement statements that feature a consolidated view of all retirement plans with services through The Principal; * on-site investment education and retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. seminars; * toll-free access to retirement specialists; * rollover A graphic element in an application or on a Web page that changes its color or shape when the pointer is moved (rolled) over it. See JavaScript rollover. See also n-key rollover. assistance; and * the quarterly magazine Plan Ahead. Get Ahead.([R]) These tools complement award-winning actuarial support, customer relations3 and leading technology services. For the past 10 years The Principal has appeared on the InformationWeek Top 500 Most Innovative Users of Information Technology list, coming in at No. 22 in 2007. About Burns & McDonnell Burns & McDonnell provides engineering, architecture, construction, environmental and consulting services to clients throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and abroad. Nearly 2,700 engineers, architects, scientists, construction managers, technicians and other professionals work in multiple offices located throughout the United States. Founded in 1898, Burns & McDonnell is 100 percent employee-owned. For more information about Burns & McDonnell, visit the Web site at www.burnsmcd.com. About the Principal Financial Group The Principal Financial Group([R])(The Principal([R]))4 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 $311.1 billion in assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. 5and serves some 18.6 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 New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors PFG PFG Principal Financial Group PFG Performance Food Group (Richmond, VA) PFG Pinnacle Financial Group PFG Plasma Flood Gun PFG Planning for Growth PFG Pasty Faced Geek PFG Perfluoroguanidine . For more information, visit www.principal.com. 1 The Employee Ownership 100, National Center for Employee Ownership, August 2006. 2 Awarded Dalbar Communication Seal of Excellence, January 2005. 3 Received Chatham Partners 2006 Best in Class Awards for Relationship Managers, Actuaries and Client Service Managers. 4 "The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group. 5 As of December 31, 2007. #2440032010 |
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