Retirement plan

THE PRINCIPAL SELECT SAVINGS PLAN FOR EMPLOYEES

Name: PRINCIPAL FINANCIAL GROUP, INC. - THE PRINCIPAL SELECT SAVINGS PLAN FOR EMPLOYEES (2019) Form 5500
Creator: PRINCIPAL FINANCIAL GROUP, INC.
License: https://www.dol.gov/general/disclaim
Keywords: Form 5500, ERISA, retirement plan, THE PRINCIPAL SELECT SAVINGS PLAN FOR EMPLOYEES, PRINCIPAL FINANCIAL GROUP, INC.

PRINCIPAL FINANCIAL GROUP, INC.EIN 42-1520346Plan #003PY 2019

711 HIGH ST - DES MOINES, IA 503921200800-986-3343principalam.comLinkedIn10001+ employeesfinancial services

Other plans on this EIN

2 filings

#001Retirement-$1.81B assets #004Retirement-$244.1M assets

Prospect flagsCorrective distributions

Top hat statement on fileNQDC

Filed September 2, 2021 (most recent of 5 filings on file)

Plan administrator

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711 HIGH STREET

DES MOINES, IA 50392

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Plans declared (1)

The Principal Financial Group, Inc. Executive Severance Plan28 emp

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Total assets (EOY)

$2963.6M

+21.1% from 2018

Total participants

14,371

+0.7% from 2018

Average account balance

$209,534

+20.6% from 2018

Annual return

23.22%

+30.01 pp from 2018

Benchmarks

See 80 peers

Peer group

Industry52 - Finance and Insurance

Plan typeDefined contribution

Participants>=10,000

Cohort80 peers

Snapshot2019

See peer percentile detail. $4.99 for your first month.

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Analytics

Total assets (EOY)

Plan-year ending balance

$4.58B

Not enough data

1 years with asset history on file

Average account balance

Total assets / participants with a balance (line 6g)

$262K

Not enough data

1 years with per-participant data

Participants with account balance

Stacked by status: active / separated vested / retired or beneficiary. Total = line 6g.

17,454

Not enough data

1 years with headcount on file

Eligible Participants and Participation

Bars: eligible actives (line 6a). Line: derived rate = active employees with a balance / 6a.

98.5%

Not enough data

1 years with eligibility data

Contributions (total)

Employer and participant dollars contributed each year

$222.33M

Not enough data

1 years with contributions on file

Contributions per participant

Average employer and participant contribution per enrolled participant

$18K

Not enough data

1 years with per-participant contribution data

Asset flow

BOY + contributions + return - distributions = EOY

Year

Annual return

Diverging bars; negative years highlighted

+13.92%

Not enough data

1 years with return on file

Admin fee / account holder

Total admin expenses / participants with a balance (line 6g)

$58

Not enough data

1 years with admin cost on file

Asset composition

Cash / stocks / bonds / mutual funds / real estate / loans over time

Not enough data

1 years with F_SCH_H allocation on file

See the 9-year trajectory. $4.99 for your first month.

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Service providers

Top 2 by compensation

Provider	Service type	Compensation
PRINCIPAL LIFE INSURANCE COMPANY4+ years Service code 13 · EIN 42-0127290	Contract Administrator	$2,211,142
MORNINGSTAR4+ years Filed as: MORNINGSTAR INVESTMENT MGMT LLC Service code 26 · EIN 36-2923857	Advisory (Participants)	$0

Plan features & details

Pension benefit codes2E2F2G2J2K2O2R2S2T3F3H

Plan features

2E
Profit-sharing
Profit-sharing plan.
2F
ERISA section 404(c) plan
This plan or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1 (shifting investment responsibility to participants).
2G
Total participant-directed account plan
Participants have the opportunity to direct the investment of all of the assets allocated to their individual accounts regardless of whether 29 CFR 2550.404c-1 is intended to be met.
2J
Code section 401(k) feature
Cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan under which employees may elect to defer part of their compensation or receive these amounts in cash.
2K
Code section 401(m) arrangement
Employee contributions are allocated to separate accounts under the plan or employer contributions are based in whole or in part on employee deferrals or contributions to the plan. Not applicable to 401(k) plans with only QNECs and/or QMACs or to 403(b)(1) 403(b)(7) or 408 arrangements.
2O
ESOP other than a leveraged ESOP
Employee stock ownership plan that is not leveraged.
2R
Participant-directed brokerage accounts
Participant-directed brokerage accounts provided as an investment option under the plan.
2S
Automatic enrollment
Plan provides for automatic enrollment in plan that has elective contributions deducted from payroll.
2T
Default investment account
Total or partial participant-directed account plan where plan uses a default investment account for participants who fail to direct assets in their account.
3F
Leased employees
Plan sponsor(s) received services of leased employees as defined in Code section 414(n) during the plan year.
3H
Controlled group member
Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b) (c) or (m)).

Opportunity flags

1 tripped

ComplianceCorrective distributions
Plan reported corrective distributions (failed ADP/ACP testing).

Expense breakdown

Schedule H Part II

Admin total

$2.2M

$213 / participant

Contract admin$2M100.0%

% of EOY assets

0.075%

all-in expense ratio

Categories reported

1 / 9

subdivided buckets used

Audit opinion

Schedule H Part III

Unqualified opinion

The auditor signed off without reservation. This is the cleanest opinion.

Auditor firm: ERNST & YOUNG, LLC
Auditor EIN: 346565596
Audit fees: (not subdivided)
Opinion code: Unqualified

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Metric

This plan

Peer set

Industry

Size

Avg account balance

$209,534

$121,259+72.8%

$162,163+29.2%

$89,569+133.9%

Participation rate

97.8%

90.0%+7.8pp

87.6%+10.3pp

69.6%+28.2pp

Annual return

23.22%

22.23%+1.0pp

115.59%-92.4pp

34.56%-11.3pp

Employer contribution / active EE

$4,975

$4,435+12.2%

$5,614-11.4%

$2,584+92.5%

Participant deferral / active EE

$8,689

$6,620+31.2%

$7,298+19.1%

$4,220+105.9%

Admin fee / account holder

$156

$101+55.1%

$10,843-98.6%

$72+118.3%

Provider

Service type

Compensation

PRINCIPAL LIFE INSURANCE COMPANY4+ years

Service code 13 · EIN 42-0127290

Contract Administrator

$2,211,142

MORNINGSTAR4+ years

Filed as: MORNINGSTAR INVESTMENT MGMT LLC

Service code 26 · EIN 36-2923857

Advisory (Participants)

THE PRINCIPAL SELECT SAVINGS PLAN FOR EMPLOYEES

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

THE PRINCIPAL SELECT SAVINGS PLAN FOR EMPLOYEES

Top hat statement on fileNQDC

Plan administrator

Plans declared (1)

Summary metrics

Benchmarksi

Analytics

Service providersi

Plan features & details

Opportunity flagsi

Expense breakdowni

Audit opinioni

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion

Benchmarks

Service providers

Opportunity flags

Expense breakdown

Audit opinion