Principal Financial Group buying pension business
January 11, 1999
Principal Financial Group of Des Moines announced that it will acquire Professional Pensions Incorporated (PPI) of East Haven, Conn.
PPI is a provider of pension and health plans that specializes in the 501(c)(3) market of tax-exempt organizations. Operating primarily in the eastern U.S., PPI has annual revenue of about $8 million and manages $600 million in assets.
PPI will become part of the Principal Financial Group pension business unit, which handles the largest of the company's businesses.