Defined Contribution plans
Retirement plan services for plans of all sizes
With over $189 billion in defined contribution plan assets under management1, Principal® is a leading provider of defined contribution (DC) plans2. We provide services to more than 39,000 DC plan clients with more than 4.9 million participants.1
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 As of June 2017.
2 Based on number of recordkeeping plans, PLANSPONSOR Recordkeeping Survey, June 2017.
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, 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 As of Dec. 31, 2016. 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 85 sub-advised investment options5 and more than 4,500 outside mutual funds6.
5 As of Sept. 30, 2017.
6 As of Dec. 31, 2016.
This communication is intended to be educational in nature and is not intended to be taken as a recommendation.
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 by 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 Company. See the group annuity contract for the full name of the Separate Account. 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.
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