The Principal Financial Group, a provider of financial products and services, has been selected by Holly Corporation, a petroleum refiner and marketer, as its defined contribution plan service provider.

Holly Corporation plan participants receive a package of services and tools, such as online account information and education, interactive educational and asset allocation tools, Morningstar investment information; total retirement statements that feature a consolidated view of all retirement plans through The Principal and toll-free access to retirement specialists.

Paul Brown, vice president of retirement and investor services at The Principal, said: The Principal is delighted to help Holly achieve administrative efficiencies in its defined contribution plan. The company will benefit from our technology that expedites processes, simplifies reporting and eases the administrative workload for our clients.

Nancy Hartmann, vice president of human resources at Holly Corporation, said: In addition to the administrative efficiencies gained, we were impressed by the individual client focus of The Principal.