"The Principal is committed to serving the needs of growing businesses," said Dan Houston, senior vice president of retirement of retirement and investor services at The Principal.
Besides ranking first among 401(k) retirement plans with between $5 million and $25 million in assets, The Principal appears to be growing in other segments. For the past three years, The Principal has climbed through the rankings of the large market accounts - those with more than $25 million in assets - with increases in each the number of plans, number of participants and total assets. The Principal also had the greatest number of participants with less than $5 million in assets, and ranks second among those with plans administered to between 100 and 499 participants.
Gerald M. O'Connor, director of Spectrem Group, called the Principal's growth in large and mid-size markets "impressive."
Houston said that such growth at The Principal will continue. "The leadership we've established in the hotly contested middle market shows that no matter what size the company, The Principal provides continued value and best-in-class services," he said.