Company Directory - Principal Financial Group
Company Details - Principal Financial Group
Principal Financial Group
WebsitePrincipal Financial Group is a global financial services organization that offers a wide range of products including retirement, asset management, and insurance. Its subsidiary, Principal Global Investors, provides investment solutions for various clients including institutional investors and private individuals.
CCI Score
CCI Score: Principal Financial Group
-14.42
Latest Event
Adoption of Transparent Corporate Political Contributions Policy
Principal Financial Group has established a comprehensive policy governing its corporate political contributions. The policy details strict oversight and approval mechanisms—via government relations, the CEO, the General Counsel, and a designated Board committee—to ensure that contributions are made in full compliance with applicable laws. By restricting contributions to those consistent with public interest and mandating full disclosure, the policy mitigates risks of undue corporate influence in politics.
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ENABLER
Principal Financial Group is currently rated as an Enabler.
Latest Events
- FEB192025
Principal Financial Group has established a comprehensive policy governing its corporate political contributions. The policy details strict oversight and approval mechanisms—via government relations, the CEO, the General Counsel, and a designated Board committee—to ensure that contributions are made in full compliance with applicable laws. By restricting contributions to those consistent with public interest and mandating full disclosure, the policy mitigates risks of undue corporate influence in politics.
+60
Political Contributions and Lobbying Efforts
April 2
The policy demonstrates ethical political behavior by instituting strict controls and transparency over corporate contributions. By ensuring multiple levels of review and public disclosure, Principal Financial Group reduces the potential for corporate funds to be misused to support authoritarian or fascist agendas. This measured approach supports democratic processes and aligns with anti-fascist values.
- FEB192025
Data from OpenSecrets indicates that a significant proportion of Principal Financial Group lobbyists—12 out of 20 in 2023 and 9 out of 17 in 2024—have previously held government positions. This revolving door practice raises alarms about potential regulatory capture and undue political influence that can undermine democratic oversight.
-60
Executive Political Engagement
April 2
The high percentage of lobbyists with previous government roles suggests that Principal Financial Group may be leveraging insider political connections. Such executive political engagement can lead to potential conflicts of interest and foster environments where policy is shaped by corporate interests, undermining democratic processes.
-50
Regulatory Capture
April 2
The revolving door phenomenon observed at Principal Financial Group increases risks of regulatory capture. With several lobbyists coming from previous government roles, the company is positioned to possibly exert undue influence over regulatory processes, which is detrimental to accountability and transparency.
- JAN312025
Principal Financial Group describes its approach to political contributions through its political action committee (PrinPAC®), which uses voluntary employee, agent, and retiree donations to support candidates from both major parties. The policy enforces strict internal oversight and prohibits direct corporate contributions to influence elections, ensuring transparency and adherence to legal guidelines.
+30
Political Contributions and Lobbying Efforts
April 2
PrinPAC is structured to channel politically related contributions in a transparent and non-partisan manner. By relying exclusively on voluntary donations and supporting candidates from both major parties, the company minimizes the risk of endorsing extremist or authoritarian movements. This approach promotes political neutrality and accountability in corporate political engagement.
+20
Executive Political Engagement
April 2
The policy highlights strong executive and board oversight in managing political contributions. Involving senior leaders and dedicated governance committees ensures that the company’s political engagement remains scrutinized and aligned with legal and ethical standards, reducing the potential for partisan misuse.
- DEC312024
Principal Financial Group spent $2,083,000 on lobbying efforts during 2024, according to OpenSecrets. This expenditure underscores the firm's significant investment in political influence through lobbying, raising concerns about prioritizing corporate interests over democratic accountability.
-40
Political Contributions and Lobbying Efforts
April 2
The reported lobbying expenditure of over $2 million suggests a deliberate effort by Principal Financial Group to influence political processes. From an anti-fascist perspective, such actions are concerning as they may reinforce corporate control and undermine democratic accountability, thereby potentially facilitating authoritarian-friendly policies.
- JAN012024
OpenSecrets data reveals that Principal Financial Group has an extensive history of lobbying, with records dating back to 1998 and activity noted for 2024. This profile underscores the company’s active involvement in influencing policy through lobbying efforts.
-40
Political Contributions and Lobbying Efforts
April 2
The data from OpenSecrets on Principal Financial Group’s lobbying activity demonstrates significant corporate political engagement. Extensive lobbying, even as a routine practice within the industry, raises concerns about undue corporate influence on public policy and the democratic process, potentially facilitating authoritarian outcomes.
- JAN012024
Data from OpenSecrets reveals that Principal Financial Group spent $2,083,000 on lobbying and contributed $517,532 during the 2024 cycle, while a significant portion of its lobbyists had previously held government positions, raising concerns about revolving door practices and undue influence in politics.
-50
Political Contributions and Lobbying Efforts
April 2
Principal Financial Group’s financial contributions and lobbying efforts, totaling over $2 million alongside $517K in contributions during the 2024 cycle, indicate aggressive political spending. This, coupled with evidence of revolving door practices (with many lobbyists having prior governmental roles), suggests a significant alignment with established power structures which can undermine democratic accountability and fuel authoritarian influence.
-40
Executive Political Engagement
April 2
The data indicates a notable revolving door phenomenon, with a high percentage of lobbyists from Principal Financial Group having previously held government positions. This close interplay between corporate and governmental spheres can lead to blurred lines in policymaking, potentially undermining democratic processes and facilitating authoritarian influence.
- FEB112009
A labor coalition led by Change to Win criticized Principal Financial Group, among other financial institutions, for lobbying against the Employee Free Choice Act, questioning the use of taxpayer-financed bailout funds to support anti-labor initiatives.
-80
Political Contributions and Lobbying Efforts
April 2
Principal Financial Group, as a member of the Financial Services Roundtable, faced criticism from a key labor coalition for its lobbying activities against the EFCA. The company’s use of taxpayer-financed TARP funds while opposing legislation aimed at bolstering workers' rights highlights an anti-labor stance, contributing to a negative rating from an anti-fascist perspective.
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Industries
- 524113
- Direct Life Insurance Carriers
- 524126
- Direct Property and Casualty Insurance Carriers
- 523110
- Investment Banking and Securities Dealing
- 523930
- Investment Advice