ING/Principal Readies Push in New Japanese K Market

June 27, 2001 ( - With a new Japanese pension system launched by recent legislation, an ING/Principal partnership has stepped up its positioning to provide defined contribution services to that nation's small and mid-sized companies.

Representatives of the Tokyo-based ING/Principal Pensions Co., Ltd., will be located in branches around Japan to more easily market 401(k) plans to companies with a workforce of 50 to 1,000 employees. The partnership will also offer recordkeeping, participant education, and back-office support.

The partnership pairs the reputation of the Principal Financial Group as a retirement and financial services provider with the existing relationships ING has achieved in Japan over the last 15 years through its life, funds management, and banking business.