Principal Financial Group
Principal Financial Group Pricing
Principal Financial Group pricing from the vendor’s own pricing page: 3 plans, cost by headcount, and the extra fees to budget for.
- starting price
- $145/mo + $6/employee
Principal Financial Group plans
Simply Retirement by Principal (with a TPA)
$6/employee/mo + $145/mo base
Billed quarterly: $435 plus per-participant fees
- Flat-fee recordkeeping
- Online setup
- TPA fees additional
Simply Retirement by Principal (bundled)
$6/employee/mo + $185/mo base
Billed quarterly: $555 plus per-participant fees; $500 one-time setup fee
- Automatic enrollment
- Wilshire Advisors as 3(38) investment fiduciary
- IRS compliance testing and participant notices
Principal 401(k), 403(b), 401(a) and pooled employer plans
Quote only
Quoted
- Principal Intelligent QDIA
- Managed account service
- Plans for large institutions
Price at a glance
Starting base fee
$145/mo
Starting price per employee
$6/employee/mo
Pricing model
Base fee + per employee
Price transparency
Partly published
Principal Financial Group cost by company size
- Simply Retirement by Principal (with a TPA)$145/mo base + $6/employee/mo
- Simply Retirement by Principal (bundled)$185/mo base + $6/employee/mo
| Employees | Simply Retirement by Principal (with a TPA) | Simply Retirement by Principal (bundled) |
|---|---|---|
| 1 | $151/mo$5,436 over 3 yrs | $191/mo$6,876 over 3 yrs |
| 5 | $175/mo$6,300 over 3 yrs | $215/mo$7,740 over 3 yrs |
| 10 | $205/mo$7,380 over 3 yrs | $245/mo$8,820 over 3 yrs |
| 25 | $295/mo$10,620 over 3 yrs | $335/mo$12,060 over 3 yrs |
| 50 | $445/mo$16,020 over 3 yrs | $485/mo$17,460 over 3 yrs |
| 100 | $745/mo$26,820 over 3 yrs | $785/mo$28,260 over 3 yrs |
List prices before discounts and add-ons.
Extra and hidden costs
Implementation fee
$500Implementation: $500.
Custodial fees
Listed by the vendor
Investment fees
Listed by the vendor
Financial professional and TPA fees, if applicable
Listed by the vendor
Price comparison
| Product | Starting price | Pricing model | Pricing details |
|---|---|---|---|
| Fidelity Workplace Investing | $100/mo | Base fee + per employee | What Fidelity Workplace Investing costs |
 | $80/mo + $5/employee/mo | Base fee + per employee | What Human Interest costs |
 | $100/mo + $5/employee/mo | Base fee + per employee | Betterment at Work pricing |
| Principal Financial Group | $145/mo + $6/employee/mo | Base fee + per employee | Principal Financial Group pricing |
| Vanguard Workplace Solutions | Quote only | Base fee + per employee | Vanguard Workplace Solutions plans and prices |
| Empower | Quote only | Empower 401k pricing |
Lowest published list price per month, cheapest first at 25 employees; quote-only products show no price.
Frequently asked questions
How much does a Principal 401(k) cost?
Simply Retirement by Principal costs $145 a month with a TPA or $185 a month bundled, plus $6 per participant a month; bundled plans add a $500 setup fee.
What plans does Principal offer employers?
401(k), 403(b), 401(a) and pooled employer plans, plus pension, stock plan, nonqualified deferred compensation, and trust and custody services.
Is there a setup fee for Simply Retirement by Principal?
Bundled Simply Retirement plans have a one-time startup fee of $500.
What other fees apply to a Principal 401(k)?
Custodial and investment fees apply, plus financial professional and TPA fees when a plan uses them.
Who is the investment fiduciary on Simply Retirement plans?
Wilshire Advisors LLC acts as the plan’s 3(38) investment fiduciary.
What do alternatives to Principal Financial Group cost?
At 25 employees Principal Financial Group lists at $295 a month; the lowest-priced alternatives compared here are Fidelity Workplace Investing ($100, $195 less), Human Interest ($205, $90 less), and Betterment at Work ($225, $70 less), at list price.
How much does Principal Financial Group cost per month?
On its lowest published plan ($145 plus $6 per head), Principal Financial Group comes to about $205 a month for 10 employees and $445 for 50, at list price before add-ons and taxes; the Simply Retirement by Principal (with a TPA) plan lists at $6/employee/mo + $145/mo base. How that compares across the category: What 401(k) providers costs.
What does Principal Financial Group charge beyond the subscription?
Principal Financial Group lists 3 extra costs: Custodial fees, Investment fees, and Financial professional and TPA fees, if applicable.
Who makes Principal Financial Group?
Principal Financial Group (a 401(k) providers provider) is sold by Principal Financial Group, founded in 1879 and headquartered in Des Moines, Iowa, USA. Its plans and contract terms are set by Principal Financial Group; see the Principal Financial Group company profile for the products it sells and its ownership.
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