Principal Financial Group

Provides retirement and financial services.

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711 High Street
Des Moines, IA 50392
Employees: 14,873
CEO: Larry Zimpleman
Stock Symbol: PFG


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The Principal Financial Group is a leading global financial company offering businesses, individuals and institutional clients a wide range of financial products and services including retirement solutions, life and health insurance, wellness programs, and investment and banking products.

The Principal offers workplace retirement plans and programs including 401(k), 403(b), defined benefit plans, Employer Stock Ownership Plans (ESOP), nonqualified deferred compensation plans, group annuities, individual 401(k)s, SIMPLE & SEP IRAs for non-profit, government, union and for-profit organizations of all sizes.

The Principal offers investment opportunities for individuals as well, including mutual funds, annuities, rollover IRAs, traditional and Roth IRAs, as well as retirement planning and investment tools and education for savers in all life stages. 

The company reported a record $519.3 billion in assets under management at the end of 2014 and serves some 19.7 million customers worldwide from offices in 12 countries throughout Asia, Australia, Europe, Latin America and the United States.

In 2014, The Principal reported revenues of $10.55 billion, up 10% from the year before, and net income of $1.11 billion.

“We delivered outstanding results in 2014. Despite the headwinds of a strengthening U.S. dollar and lower interest rates, we grew operating earnings and earnings per share by 24 percent over 2013 and delivered $18 billion of net cash flows, driving assets under management to a record $519 billion,” said Larry Zimpleman, chairman and chief executive officer. “With our recent announcement to acquire AXA’s Hong Kong pension business, we continue to position ourselves as a global leader in investment management and retirement. We are well positioned for continued growth in 2015 and beyond.”


On July 1, 1879, Edward Temple and his colleagues established a new insurance company, the Bankers Life Association. Only men between 21 and 55 who were healthy and in low-risk occupations could be members. Women were excluded because childbirth - their main occupation at the time -- was deemed too hazardous. If a death was caused by drinking or drug use, death benefits were not awarded. Despite these restrictions, the company grew quickly.

Bankers Life became Principal Financial Group in 1985 to give it a new identity after creating various new financial subsidiaries.

The company would go public in 2001.


Health Coverage- You can elect medical (includes prescription drugs), dental, and vision coverage for you and your family, including a domestic partner. The company pays for a portion of your medical and dental coverage, and coverage begins on your start date.
- Medical Plans - Our medical plans are designed to provide comprehensive coverage and the flexibility to choose the package that fits your needs.
- Dental Coverage - Our dental plan helps pay dental expenses for you and your dependents. It covers preventive and basic services, such as cleanings and fillings, as well as major services and children's orthodontia.
- Vision Coverage - Our vision plans are focused on total eye care, including eye exams, maintaining eye health and vision wear.

401(k) plan - This tax-deferred plan allows you to contribute a percentage of your income into a 401(k) account. The company will even match a portion of your contribution.
Pension plan-Whether or not you choose to save for retirement, the company saves for you. If you're working full time, you're automatically enrolled in the pension plan on the first day of the month on or after the date you reach age 21.
Life and Health- You also may be able to continue your certain benefits after retirement. We offer medical (including prescription drugs), vision, dental and life if you retire from the company. (Retirement eligibility is based on your age and years of service with the company.)
As an employee, you have the opportunity to purchase:
- Group Universal Life Insurance
- Long-Term Care Insurance
- Property and Casualty Insurance
Financial benefits
Stock Plans-You can invest in the future of the company with company stock - and each plan gives you benefits that are not available to other investors.
- Employee Stock Ownership Plan (ESOP)
- Employee Stock Purchase Plan (ESPP)
Disability benefits-Company-provided disability coverage can help reduce any financial loss if you need to be away from work due to an illness, an injury or maternity leave. If approved for a benefit, disability coverage provides between 60 percent and 100 percent of your pay.
Life, Accidental Death and Dismemberment, and Business Travel Accident Insurance-Life, accidental death and dismemberment, and business travel accident insurance help protect your family against financial loss. As an employee, the company provides life, accidental death and dismemberment, and business travel accident insurance for you at no charge.

Personal Time Off allows employees to take time off for vacations, dependent care and personal responsibilities.
Workout facilities with gyms, extensive weight-training and fitness equipment, aerobic classes and locker rooms are available in some locations.
The Educational Assistance Program offers tuition reimbursement for job-related courses and degree programs at most colleges and universities.
The company provides educational programs and materials on health and wellness, caregiving for children and adults, and financial issues.
The Employee Assistance Program provides free, confidential counseling services to help solve personal or work-related problems.
Lactation centers are available in some locations for nursing mothers to use during work hours.
Adoption benefits reimburse employees up to $2,500 toward the cost of adoption, including agency, legal and court fees and other eligible expenses.
Alternative work schedules including part-time schedules, working from home, or working longer - but fewer- days each week may be available to help employees better fulfill obligations outside of work.
Flexible spending accounts allow you to pay dependent care expenses on a pre-tax basis.

Updated February 17, 2015