Principal Financial Group Inc. announced it has entered into an agreement with private benefits company Liazon Corp. to offer employer-sponsored group benefit plans to small and medium-sized businesses. Liazon's Bright Choices Exchange allows employers to choose how much to spend each year on benefits and lets employees determine how to spend their share of the money. Principal will offer ancillary group benefits through the exchange, including dental, life, disability and critical illness insurance. "This creates great opportunity to expand relationships with employers looking for accessible, flexible benefit options," said Amy Friedrich, a Principal vice president. The exchange will be offered in addition to ancillary benefits programs that Principal currently sells. Liazon, founded in 2007 in Buffalo, N.Y., was acquired by global professional services firm Towers Watson in November 2013.