Principal Financial says chairman Zimpleman to retire Principal Financial announced that chairman Larry Zimpleman will retire on January 4, 2016. Zimpleman will continue to serve on the board of directors as non-executive chairman, the company noted.
Principal Financial to hold a conference call President & CEO Houston and EVP & CFO Lillis provide company outlook for 2016 and an update on capital management on a conference call to be held on December 3 at 10 am. Webcast Link
Law firm says judge approves settlement with Principal Financial Law firm Bailey & Glasser announced that a U.S. District Judge granted final approval to a settlement negotiated with Principal Financial, which it says had been accused of violating its fiduciary obligations by charging excessive administrative fees to employees investing their retirement plans in Principal funds in violation of the Employee Retirement Income Security Act. The settlement involves a payout of $3M into a settlement fund and an agreement by Principal to redyce such fees going forward by at least $8.1M.