admin @ Wed, 2008-11-12 18:40
“We believe these measures could help with cash funding and potentially reduce the number of defined benefit plans subject to benefit restrictions,” said Houston.
In the meantime, there are actions plan sponsors need to take now. The Principal is launching an educational program and a new estimation tool, in addition to its consulting services, to help financial professionals and their defined benefit plan clients gauge the potential impact of market volatility on the value of plan assets and the required contributions to their defined benefit plans.
The new, easy-to-use calculator helps estimate the potential costs and contribution amounts for 2009 under different market scenarios.
The Principal Financial Group (The Principal )2 is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $287.4 billion in assets under management3 and serves some 19.0 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com .
1 The Principal is the #1 service provider of defined benefit plans in the nation (Investment Advisor Magazine, Nov. 2008).
This is cache, read story here