Shiloh Industries Inc., Cleveland, hired Principal Financial Group as semibundled provider of its $60 million 401(k) plan and administrator of its defined benefit and cash balance plans, which total $15 million, said Stephen E. Graham, Shiloh CFO. Principal also will manage about $3 million for the pension and cash balance plans, said Thomas Dugan, Shiloh treasurer; further information wasnt available. USI was administrator for the plans; Riggs Bank was trustee.
Shilohs 401(k) plan now has 20 investment options, up from 11, Mr. Dugan said. Sagemark assisted.