Defined Contribution plans
Retirement plan services for plans of all sizes
With over $219 billion in defined contribution plan assets under management1, Principal® is a leading provider of defined contribution (DC) plans2. We provide services to more than 40,000 DC plan clients with more than 5 million participants.1
Visit Principal.com/SMB for packages especially for small business retirement plans with less than $10 million in assets.
Here’s what you can expect from us:
- High-quality local service support for you, your clients and their participants.
- Easier administration and management of retirement plans.
- Incentives for plan design features that can help encourage higher participation levels and deferral rates.
- Participant education sharply focused on helping participants achieve retirement readiness.
- Extensive investment options for your retirement plan lineup and an in-plan guaranteed income solution for converting savings into retirement income3.
1 PLANSPONSOR Recordkeeping Survey, July 2018
2 Based on number of recordkeeping plans, PLANSPONSOR Recordkeeping Survey, July 2018.
3 The ability of Principal Life Insurance Company to pay the guarantee is based on the claims-paying ability of the general account and is subject to the terms of the contract.
We support a diverse client base with a wide variety of plan designs and service arrangements, including:
- 401(k), 403(b), 401(a), KSOP
- For profit, tax-exempt, governmental, union
- Start-up through institutional-sized plans
- Bundled or third-party administrator (TPA) service arrangements
We provide full service for retirement plans, including:
- Plan design consulting and administrative services
- Recordkeeping, including electronic Form 5500 filing
- Plan compliance testing
- Plan and investment fiduciary support
- Participant enrollment, financial wellness, education and retirement income planning services
Local service: Our service staff is among the largest in the industry – and we’re located near our clients. We have more than 40 sales and service offices across the United States.4 We will coordinate with you to deliver the appropriate level of client service and participant education to complement your service model.
Retirement Readiness: We have a sharp focus on retirement readiness – helping participants achieve an adequate level of income in retirement. Three key areas of focus include:
- Encouraging plan sponsors to adopt plan design features known to produce higher participation and deferrals.
- Measuring and reporting results to plans sponsors annually through a Retirement Readiness Report.
- Providing participant education focused on reaching sufficient income during retirement.
One-on-one education: We offer a highly personalized approach to education with one-on-one employee meetings and a range of supporting and follow-up services to meet the needs of each individual. This can help boost results for the plan – and help put employees on a better retirement savings track. It can also help your clients attract and retain employees.
4 Principal as of Sept. 30, 2019. Note: The number of RIS Distribution offices can change over time.
We offer mutual funds and separate account platforms and access to a wide range of asset classes and investment managers. Choose from more than 80 sub-advised investment options5 and more than 5,000 outside mutual funds5.
5 Principal as of Sept. 30, 2019.
The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, investment advice or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, investment or accounting obligations and requirements.
Carefully consider a Fund’s objectives, risks, charges, and expenses. Contact your financial professional or visit principal.com for a prospectus, or summary prospectus if available, containing this and other information. Please read it carefully before investing.
Investment options are subject to investment risk. Shares or unit values will fluctuate and investments, when redeemed, may be worth more or less than their original cost.
Insurance products and plan administrative services are provided through Principal Life Insurance Company. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities are offered through Principal Securities Inc., 800-547-7754, Member SIPC and/or independent broker/dealers. Principal Funds Distributor, Principal Securities and Principal Life are members of the Principal Financial Group®, Des Moines, Iowa 50392. Investment options and contract riders may not be available in all states or U.S. commonwealths.
Separate Accounts are available through a group annuity contract with Principal Life Insurance Co. Insurance products and plan administrative services provided through Principal Life Insurance Company, a member of the Principal Financial Group, Des Moines, Iowa 50392. See the group annuity contract for the full name of the Separate Account. Certain investment options and contract riders may not be available in all states or U.S. commonwealths. Principal Life Insurance Company reserves the right to defer payments or transfers from Principal Life Separate Accounts as permitted by the group annuity contracts providing access to the Separate Accounts or as required by applicable law. Such deferment will be based on factors that may include situations such as: unstable or disorderly financial markets; investment conditions which do not allow for orderly investment transactions; or investment, liquidity, and other risks inherent in real estate (such as those associated with general and local economic conditions). If you elect to allocate funds to a Separate Account, you may not be able to immediately withdraw them.
Here are our top DC marketing materials.
Retirement solutions for your business (MM1744)
This brochure uses scenarios to explain how different types of retirement plans and designs work.
Retirement plan design guide (PQ11865)
This resource guides you through a series of questions to help you determine possible retirement plan options for an organization.