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Judges Name Company One of The Principal 10 Best Companies for Employee Financial Security
MCLEAN, Va., September 27, 2007—LMI has been named one of the 2007 winners of The Principal 10 Best Companies for Employee Financial Security. An independent panel of business leaders and employee benefits experts selected LMI for its excellent retirement plan. 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.
“I feel extremely flattered that we were selected as one of The Principal 10 Best Companies—2007,” said Adm. Donald Pilling, CEO of LMI. “We have a much stronger benefit package than our competitors—it’s a discriminator for potential employees. As a result, we’ve been able to convince some superstars to come here to work.”
LMI’s commitment to its employees has enabled it to offer a benefits program that fulfills their needs, including the following: 80 percent employer-paid medical insurance premiums for employees and dependents 403(b) plan with an employer match of 100 percent up to 3 percent of pay deferred Money purchase plan with a 9 percent non-matching contribution 457(b) plan with an average employee deferral of 9 percent 100 percent employer-paid premiums for short-term disability insurance Flexible spending account, to which the company contributes $500 per employee.
“At a time when many employers are challenged to maintain strong benefits, LMI is demonstrating a rock solid commitment to give its employees an edge on their financial futures,” said Renee Schaaf, vice president at the Principal Financial Group. “LMI understands that benefits are more than a cost, they are an investment in any organization’s greatest asset: its employees. We are proud to showcase LMI as an exceptional role model.” LMI, based in McLean, Va., is a not-for-profit government consulting firm established in 1961 at the behest of Secretary of Defense Robert S. McNamara. Best known for its logistics expertise, LMI’s work now includes acquisition, facilities management, financial management, information technology, and organizations and human capital. Numbered among its clients are Department of Defense organizations and civil agencies, such as the Department of Homeland Security and U.S. Postal Service.
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