Defined Benefit (Pension) · DOL Form 5500 · 2023
Principal Financial Group, Inc. Pension Plan
Data updated 2026-08-25
- $1.7B
- Total assets Very large vs avg
- 12,492
- Participants Very large workforce
- 99th
- Percentile by assets National rank
- $136,017
- Avg per participant Near avg balance/head
Official DOL plan name: Principal Cash Balance Plan · Sponsored by Principal Financial Group, Inc. · Iowa · Finance & Insurance
$1.7B in assets, 12,492 participants
Principal Financial Group, Inc.'s Principal Cash Balance Plan reported $1.7B in total assets and 12,492 participants in its 2023 DOL Form 5500 filing, ranking in the 99th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.
- #8,724 in Finance & Insurance (8,869 peers)
Coverage in Iowa
Principal Cash Balance Plan covers 12,492 participants in Iowa, 21x the typical Iowa plan (state average ~609 per filing). Assets: $1.7B.
- #8,724
- in Finance & Insurance (8,869 peers)
- +9.7%
- assets growth YoY
- 17×
- vs typical plan assets (national mean)
Principal Cash Balance Plan's outsized position by total assets
Principal Cash Balance Plan vs every filed plan by assets
End-of-year total assets · plan year 2023 · DOL Form 5500
$1,699,129,128 Top 1% higher than 99% of 127,068 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023
Principal Cash Balance Plan's mega-plan peer group by participant headcount
Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Principal Cash Balance Plan is a mega filing (12,492 participants), the rightmost band on the breakdown.
What changed between DOL Form 5500 filings
plan year 2022 → plan year 2023
- Principal Cash Balance Plan end-of-year assets rose from $1.5B in the plan year 2022 filing to $1.7B in the plan year 2023 filing.
- Principal Cash Balance Plan reported participants rose from 11,788 in the plan year 2022 filing to 12,492 in the plan year 2023 filing.
Published 5500 schedule card
Filing strip 421520346 · Principal Financial Group, Inc. PY 2023 · Defined Benefit (Pension)
Principal Cash Balance Plan · $1.7B · 12,492 · 99th
- ASSETS $1.7B
- PCT 12,492
- EIN 99th
- RANK Defined Benefit (Pension)
- PHOTO near North Central States Regional Council of Carpenters Pension Fund
- IND ind #8724
Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in Iowa →
Principal Cash Balance Plan in the asset neighbourhood
Iowa filing particulars
| Total Assets (Beginning of Year) | $1.5B |
|---|---|
| Net Assets (End of Year) | $1.7B |
| Net Income | $121M |
| Employer EIN | 421520346 |
| Plan Effective Date | 2022-12-31 |
| Filing Status | FILING RECEIVED |
Sponsor Plan History (Principal Financial Group, Inc.)
Sponsor-wide plan assets over time
All Principal Financial Group, Inc. plans reported in each filing year
- Latest sponsor-wide plan assets
- $6.1B 16.49531919009572% vs 2022
- 2024 filing year
| Year | Plans | Participants | Total Assets |
|---|---|---|---|
| 2022 | 4 | 36,517 | $5.2B |
| 2023 | 3 | 25,319 | $5.9B |
| 2024 | 3 | 24,786 | $6.1B |
Nearby Defined Benefit (Pension) Plans in Iowa
Peer Defined Benefit (Pension) plans, same state, same plan type, ranked by total assets.
- Transamerica Pension Plan $2.3B · 6,519
- Midamerican Energy Company Retirement Plan $516M · 3,002
- Employers Mutual Casualty Company Retirement Plan $347M · 1,835
- Non-Contributory Retirement Program for Certain Employees of Wellmark, Inc. $297M · 1,474
- Pension Plan of the Plumbers and Steamfitters Local Union No. 33 Retirement Trust $293M · 1,164
Scale composition for Principal Cash Balance Plan
Principal Cash Balance Plan reports $1.7B in end-of-year assets across 12,492 participants (0.014% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.013% of 93,925,755 covered participants) - about $136,017 per participant (98% of the national average assets-per-participant) . Net income for plan year 2023 was $121M.
This plan identity (EIN 421520346, plan #005) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $1.5B to $1.5B (-5.4%) while covered participants moved from 11,788 to 11,945 . Single-year sparse filers cannot show that trail.
| Plan year | Participants | EOY assets | Filing |
|---|---|---|---|
| 2022 | 11,788 | $1.5B | Open filing |
| 2023 | 12,492 | $1.7B | This page |
| 2024 · index core | 11,945 | $1.5B | Open filing |
The same sponsor also keeps 2 other index-core plans on PlainRetire:
- The Principal Select Savings Plan (401(k), $4.6B, 12,841 participants)
- Principal Cash Balance Plan (Defined Benefit (Pension), $1.5B, 11,945 participants)
Principal Cash Balance Plan's out-of-state Defined Benefit (Pension) peers by assets and headcount
Outside Iowa, the nearest Defined Benefit (Pension) by assets is North Central States Regional Council of Carpenters Pension Fund in WI ($1.7B); by covered participants it is Verizon Management Pension Plan in NJ (12,474 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($1.7B here).
- North Central States Regional Council of Carpenters Pension Fund (WI) $1.7B · 5,662
- Weyerhaeuser Pension Plan (WA) $1.7B · 3,585
- Basf Corporation Salaried Employees' Pension Plan (NJ) $1.7B · 3,107
- Nissan Employee Retirement Plan (TN) $1.7B · 4,300
Similar participant headcount
Nearest other-state filings by covered participants (12,492 participants); asset peers above are excluded.
- Verizon Management Pension Plan (NJ) 12,474 · 18 off
- Firstenergy Corp. Master Pension Plan (OH) 12,304 · 188 off
- Metlife Retirement Plan (NJ) 12,300 · 192 off
- Pepsico Employees Retirement Plan I (NY) 12,289 · 203 off
DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.