A Principal news release said the deal fits with its commitment to defined benefit actuarial consulting. The company said its objective is to grow its field-deployed actuarial consulting expertise and expand its national consulting footprint.
The transaction is expected to close on January 1, 2008 and terms were not disclosed.
RCA, an Atlanta-based regional actuarial and consulting firm with five actuaries, provides defined benefit actuarial, administrative, and consulting services to nearly 100 corporations and professional firms throughout the region, according to the release.
“Given the rapid pace of change particularly in the complex defined benefit marketplace, employers and financial professionals today require specialized assistance to determine the optimal scenario for their defined benefit plan,” said Paul Brown, vice president of the Institutional Market Segment, Retirement & Investor Services at The Principal, in the announcement.