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Howalt-McDowell Insurance Selected as One of the Best in the Nation for Benefits

Judges Name Sioux Falls Firm as One of

“The Principal 10 Best Companies for Employee Financial Security”

 

(Des Moines, Iowa) – Howalt-McDowell Insurance, Inc., based in Sioux Falls, S.D. has been named one of the 2006 winners of The Principal® 10 Best Companies for Employee Financial Security. An independent judging panel of business leaders and employee benefits experts selected Howalt-McDowell Insurance, Inc. for its dedication to its employees as demonstrated by its outstanding package of employee benefits; noting in particular the insurance agency’s commitment to health care insurance, wellness programs and retirement savings.

The nationwide program, which is sponsored by the Principal Financial Group, recognizes growing companies (between five and 1,000 employees) that excel at contributing to their employees’ long-term financial security, particularly through employee benefits programs.

“At a time when many employers are challenged to maintain strong employee benefits, Howalt-McDowell Insurance has gone the extra mile to give its employees an edge on their financial futures,” said Renee Schaaf, vice president at the Principal Financial Group. “Howalt-McDowell Insurance stood out among the competition and is a role model for providing the very best in employee benefits.” A summary of best practices gleaned from Howalt-McDowell Insurance, Inc. and other winners will be published in a Best Practices Guide available in January 2007 at www.principal.com.

“One of the things that impressed us was the very high level of contribution that Howalt-McDowell makes to the defined contribution programs for its employees. It was extraordinary and one of the highest we found,” said Dan McCarthy, Consulting Actuary, Milliman USA and member of The Principal 10 Best judging panel. “In addition they offer an excellent package of medical, disability and life insurance and pay a remarkably higher percentage of the cost of those benefits. That demonstrated the clear commitment this firm has.”

Howalt-McDowell Insurance, Inc. is a locally owned independent insurance agency with 80 employees. Howalt-McDowell Insurance’s commitment to its employees has enabled it to implement a benefits program that is well aligned with employee needs.

“Our employees are our greatest asset and we are proud to provide an exceptional safety net for their health and financial futures,” said Jeff Scherschligt, president, Howalt-McDowell Insurance, Inc. “It’s a great honor to be recognized as one of The Principal 10 Best Companies for Employee Financial Security.”

Also among The Principal 10 Best Companies—2006 are: Argon ST, Inc., Fairfax, Va.; Central Iowa Power Cooperative, Cedar Rapids, Iowa; ITAGroup. Inc., West Des Moines, Iowa; Eastern Financial Florida Credit Union, Miramar, Fla.; GTE Federal Credit Union, Tampa, Fla.; McNaughton & Gunn, Saline, Mich.; Michigan Farm Bureau Family of Companies, Lansing, Mich.; Wells Real Estate Funds, Inc., Norcross, Ga.; and West Bend Mutual Insurance Company, West Bend, Wis.