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Principal to buy Retirement Consulting

by AP Associated Press - Dec 19,2007

DES MOINES, Iowa (AP) - Principal Financial Group (NYSE:PFG PRB) (NYSE:PFG) , which administers company-sponsored retirement plans, said Tuesday it agreed to buy defined-benefit plan adviser Retirement Consulting Actuaries Inc., expanding Principal's reach in the Atlanta region.

Terms of the deal were not disclosed.

RCA is based in Atlanta and provides defined-benefit actuarial, administrative and consulting services to 100 companies in the region. Defined-benefit plans promise to pay employees at a fixed percentage of some salary measure once they retire. Principal's expertise is 401(k) plans.
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