Principal 401(k) Provider Review
Principal Financial Group specializes in serving small to mid-sized businesses with comprehensive retirement solutions. Known for bundled services and strong employer support.
Small Business 401(k) Specialist • Rank #6 • Score: 8.3/10 • Founded 1879 • Des Moines, IA
Ratings Breakdown
Pros and Cons
Advantages
- Excellent for small business 401(k) plans
- Bundled benefits solutions
- Strong customer service for plan sponsors
- SimpleInvest managed portfolios
- Insurance product integration
- Flexible plan designs
Disadvantages
- Higher fees for smaller plans
- Limited investment selection vs big providers
- Technology platform less advanced
- Revenue sharing can increase costs
- Less suitable for large enterprises
Principal 401(k) Fees
| Fee Type | Amount |
|---|---|
| Administrative Fees | $1,500 - $5,000/year for small plans |
| Expense Ratios | 0.25% - 1.5% |
| Trading Fees | Varies |
| Advisory Fees | 0.40% - 1.0% |
Investment Options
Key Features
Best For
- Small businesses
- Bundled benefit seekers
- Companies wanting insurance integration
Complete Principal Financial 401(k) Review for 2026
Principal Financial ranks #6 in our 2026 401(k) provider rankings with an overall score of 8.3 out of 10. Founded in 1879 and headquartered in Des Moines, IA, Principal manages $700 billion in assets and serves 6 million participants across 46,000+ plan sponsors.
Why Choose Principal for Your 401(k)?
Principal Financial Group specializes in small business 401(k) plans, making retirement benefits accessible to companies of all sizes. Simply Retirement by Principal offers affordable 401(k) solutions for businesses with under 100 employees. Principal's bundled services integrate 401(k) administration with insurance products, simplifying benefits management for employers. SimpleInvest managed portfolios provide hands-off investing for participants who prefer professional management. With roots dating to 1879, Principal brings over 140 years of financial services experience to retirement planning.
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Frequently Asked Questions
Principal Financial charges administrative fees that vary by plan size. Expense ratios range from 0.25% - 1.5%, and advisory fees are 0.40% - 1.0%. Compare plans carefully as total costs depend on your plan size and investment selections.
You can log into your Principal Financial 401(k) account through the plan provider portal. Current and former employees can use the participant login page. First-time users will need to register with their Social Security number and date of birth.
Principal Financial ranks #6 in our 2026 provider rankings with a score of 8.3/10. They manage $700 billion in assets and serve 6 million participants. They are particularly strong for Small businesses, Bundled benefit seekers, Companies wanting insurance integration.
Yes, you can roll over your Principal Financial 401(k) to a Traditional IRA, Roth IRA, or a new employer plan. A direct rollover avoids mandatory tax withholding. Contact Principal or your new provider to initiate the transfer.
Principal Financial offers a range of investment options including Mutual Funds, Target Date Funds, Stable Value, Managed Portfolios. The specific fund lineup depends on your plan and may change periodically.
Principal Financial scores 8.3/10 overall with ratings of 3.5/5 for fees, 3.8/5 for investment options, 4.2/5 for customer service, and 3.9/5 for mobile app. Compare with other top providers on our comparison pages.
Disclaimer: This review is for educational purposes only and is not financial advice. Provider details may change. Contact Principal Financial directly for the most current plan information.