The Principal financial 401k offers several advantages. These include the opportunity to set a higher contribution rate and an investment plan with diverse investment options. In addition, the retirement account offers free educational resources and an online customer experience that makes it easy to navigate. You can also check your balance, view plan details, and transfer money between investment options with ease.
Previously, 401k investors could just guess how much to invest. But with Principal’s recommendations, most savers end up paying hidden fees to sub-manage their separate accounts and end up in a general account. That’s not a good option for most people. Principal’s executives discussed this shift on their recent earnings call.
In addition to the benefits of the 401k, the company offers a variety of retirement accounts. It offers Roth, SEP, and traditional IRAs. It also provides financial services to individuals, businesses, and institutions. And if you want to build a retirement portfolio with a competitive rate of return, you can invest with them. The company claims to have 19 million customers globally.
The Principal financial 401k plan provides employees with a tax-efficient way to save for retirement. It offers automatic deductions for up to 100% of eligible pay. In addition, the Conservancy will match the first 3% of employee contributions. The benefit is equal to two times the annual salary. You can increase your contribution amounts as needed to meet your retirement goals.
Another feature of the Principal financial 401k plan is the affordability of the plan. All fees are flat and do not increase based on the assets in the plan. In addition, the plan has simplified investment choices and selections for participants. This simplifies the process for both financial professionals and TPAs.
The Principal Financial Group is a large financial company headquartered in Des Moines, Iowa. The company employs over 9,000 people and owns naming rights to local attractions. In addition, the Des Moines headquarters is home to several other large businesses. And the Principal Financial Group also has many employees