Optical Firm Named To Honor List

March 14, 2003
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GRAND RAPIDS — Smeelink Optical Service has been named to Plan Sponsor Magazine's list of Top 100 Defined Contribution Plans of 2002. The listing appeared in the publication’s January edition.

The Principal Financial Group (NYSE: PFG) says that it nominated the local firm because 100 percent of its employees participate in the company-sponsored 401(k) retirement plan.

The Principal, which is the service provider for Smeelink’s plan, said the company was ranked seventh out of 100 listed in the magazine. Principal dubs itself the nation’s leading provider of such plans.

Deb Morris, of The Principal’s retirement and investor services, said the optical company matches employees’ contributions to their 401(k) retirement plans with at least 40 percent of the first 10 percent of each employee’s deferral

“Smeelink understands the critical importance of saving for retirement,” she said. “The company is ensuring their employee’s financial security by encouraging them to invest in their 401(k) plan.” 

Buttressing her remarks, Jack Smeelink, of Smeelink Optical, said the company’s workers “understand the value of taking advantage of the ‘free money’ that comes to them when they invest in their retirement plan.

“They are our most valuable asset,” he added. “We want them to focus on the job, so we focus on making saving for their futures easier. We are especially pleased to be working with The Principal, which has provided exceptional support to us and our employees through their skilled counselors, state-of-the-art Web site and award-winning investment education and plan communication materials.” 

Smeelink Optical has six Grand Rapids-area locations. The firm specializes in eye exams, contact lenses and eyeglasses.  Smeelink Optical Service has been family-owned and locally operated since 1945.

A member of the Fortune 500, The Principal Financial Group claims to have $111.1 billion in assets under management and to serve some 13 million customers globally.

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