Ten Firms Walk Away with Principal Employee Security Award

September 26, 2005 (PLANSPONSOR.com) - The Principal Financial Group has announced the 2005 winners of The Principal 10 Best Companies for Employee Financial Security.

A Principal news release said the program is designed to honor firms that excel in selecting, managing and providing a benefits program that ensures employees’ long-term financial security. Now in its fourth year, the program focuses on firms that have five to 1,000 employees. More than 500 companies were nominated for the latest round of awards.

The announcement said that the judges’ panel applauded the 2005 winners for preserving core medical, retirement and risk protection benefits despite cost pressures. Judges also gave this year’s winners kudos for innovation in offering wellness programs, one-on-one benefit guidance and do-it-for me retirement savings options.

Judges were also very impressed with how the winning companies provide “peace of mind” for their employees’ retirement savings through traditional defined benefit pension plans and generous employer contributions to defined contribution plans.

“I was struck by how many companies are still making a commitment to providing a traditional pension plan and to help their retirees with medical expenses. The generosity, diversity and richness of these programs seems to transcend employer size,” remarked Nevin Adams, editor-in-chief of PLANSPONSOR magazine and PLANSPONSOR .com and member of the 2005-judging panel.

Winning companies come from an array of industries ranging from manufacturing to financial services; and range in size from 15 to over 815 employees.

The Principal 10 Best Companies

  • Flexible Steel Lacing Company, Downers Grove, Illinois
  • American Council of Life Insurers, Washington, DC
  • American Lung Association, New York, New York
  • GuideOne Insurance, West Des Moines, Iowa
  • Campus USA Credit Union, Gainesville, Florida
  • The Washington Trust Company, Westerly, Rhode Island
  • Southwest Power Pool, Inc., Little Rock, Arkansas
  • Glatfelter Insurance Group, York, Pennsylvania
  • Moran Towing Corporation, New Canaan, Connecticut
  • Fremont Co-operative Produce Company, Freemont, Michigan.