ASCD Selected as One of the Best in the Nation for Benefits
Judges Name Education Association as One of The Principal 10 Best Companies for Employee Financial Security
Alexandria, VA (8/18/09)—ASCD is 1 of only 10 growing companies earning national acclaim for using business smarts to offer their employees extraordinary benefits in the face of an economic storm.
An independent judging panel of employee benefits experts named ASCD as one of the 2009 winners of The Principal® 10 Best Companies for Employee Financial Security, citing its passing down healthcare cost decreases to employees, as well as its commitment to employee education.
"Our employee benefits are a hallmark of the association," said ASCD Executive Director Gene R. Carter. “It’s our goal to provide high-quality benefits while passing only minimal costs on to our employees." Carter explained that the award recognition also affirms ASCD’s mission. "As an organization that advocates for whole child-centered education policies and practices, we place a high value on the well-being of our employees. We want to attract and retain the best individuals who will advance our organization's mission, vision, and goals," Carter said.
Vice President of The Principal Financial Group® Luke Vandermillen said, "ASCD faces the same challenges as other businesses. What makes them extraordinary is the priority they place on employee financial security. "ASCD understands the direct connection between strong benefits, a strong workforce, and a strong bottom line—in the best and worst of times."
The Principal Financial Group sponsors the national program, which is now in its eighth year. It honors growing companies for their commitment to their employees’ financial security.
"ASCD was able to actually decrease the rates in its medical insurance premiums, even in the current economic environment. Health care is a huge concern for the American worker, and paying for it is an even bigger concern. The fact that ASCD was able to lower costs for its employees is really amazing," said Nevin Adams, editor-in-chief, PLANSPONSER Magazine, PLANSPONSOR.com, PLANADVISER Magazine, and judge of The Principal 10 Best Companies. "The organization’s commitment to making it easy for employees to take advantage of employee benefits is also commendable. For example, great retirement program features such as automatic enrollment and target date funds."
Deborah Hall-Pope, ASCD chief organizational services officer, added that ASCD learned valuable lessons about managing benefits during an economic recession. "It's critical to always base your decisions on the values of the organization, be honest with employees about the challenges the organization is facing, and seek creative ways to design your benefits plan," she said.
A summary of best practices from ASCD and other winners will be published and available in January 2010 at www.principal.com/10best.
The 2009 winners:
- ASCD, Alexandria, Va.
- Credit Union West, Glendale, Ariz.
- Kennebec Savings Bank, Augusta, Maine
- Knoxville TVA Employee Credit Union, Knoxville, Tenn.
- PriMed Management Consulting Services, Inc., San Ramon, Calif.
- Psychological Assessment Resources, Inc. (PAR, Inc.), Lutz, Fla.
- Shenandoah Shared Hospital Services, Inc., Harrisonburg, Va.
- Synaptics Inc., Santa Clara, Calif.
- The Cleveland Foundation, Cleveland, Ohio
- The Summit Federal Credit Union, Rochester, N.Y.
To learn more about the winners and the judging process, visit www.principal.com/10best.
Contact Information
About ASCD
Founded in 1943, ASCD is a nonprofit educational leadership association that develops programs, products, and services essential to the way educators learn, teach, and lead. We provide expert and innovative solutions in professional development, capacity building, and educational leadership. ASCD's membership comprises more than 175,000 principals, teachers, superintendents, professors of education, and other educators from 119 countries. Our association also has nearly 60 affiliates throughout the world.
Benefit highlights include
- 89 to 94 percent employer-paid medical insurance premiums for employees and dependents.
- 403(b) plan with a tiered employer match of 3–12 percent, depending on employee contribution level; average employee deferral of 8.3 percent.
- 100 percent employer-paid premiums for short– and long-term disability insurance.
About The Principal 10 Best Companies for Employee Financial Security
The Principal 10 Best Companies for Employee Financial Security is a national program that recognizes small– and medium-size companies that excel at giving their employees a financial edge. Entrants must
- Have between 5 and 1,000 employees.
- Be based in the United States.
- Have provided a broad range of employee benefits for at least five years.
- Offer traditional employee benefits, such as retirement and health, life, and/or disability insurance.
No entry fee is required. Companies owned by employees of Principal are not eligible to enter. For more information, visit www.principal.com/10best.
About the Principal Financial Group
The Principal Financial Group is a leader in offering businesses, individuals, and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $257.7 billion in assets under management and serves some 18.8 million customers worldwide from offices in Asia, Australia, Europe, Latin America, and the United States. Principal Financial Group, Inc., is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.