401(k) · DOL Form 5500 · 2024

Principal Financial Group, Inc. 401(k) Plan

Data updated 2026-08-25

$4.6B
Total assets Very large vs avg
12,841
Participants Very large workforce
100th
Percentile by assets National rank
$356,635
Avg per participant High balance/head
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Official DOL plan name: The Principal Select Savings Plan · Sponsored by Principal Financial Group, Inc. · Iowa · Finance & Insurance

$4.6B in assets, 12,841 participants

Principal Financial Group, Inc.'s The Principal Select Savings Plan reported $4.6B in total assets and 12,841 participants in its 2024 DOL Form 5500 filing, ranking in the 100th 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.

  • #8,490 in Finance & Insurance (8,549 peers)

Coverage in Iowa

The Principal Select Savings Plan covers 12,841 participants in Iowa, 21x the typical Iowa plan (state average ~609 per filing). Assets: $4.6B.

#8,490
in Finance & Insurance (8,549 peers)
+10.8%
assets growth YoY
46×
vs typical plan assets (national mean)

The Principal Select Savings Plan's outsized position by total assets

The Principal Select Savings Plan vs every filed plan by assets

End-of-year total assets · plan year 2024 · DOL Form 5500

$4,579,548,793 Highest reported value at or above every one of 123,620 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2024

The Principal Select Savings Plan's mega-plan peer group by participant headcount

Plan-year 2024 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. The Principal Select Savings Plan is a mega filing (12,841 participants), the rightmost band on the breakdown.

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • The Principal Select Savings Plan reported net income fell from $521M in the plan year 2023 filing to $445M in the plan year 2024 filing.
  • The Principal Select Savings Plan end-of-year assets rose from $4.1B in the plan year 2023 filing to $4.6B in the plan year 2024 filing.
  • The Principal Select Savings Plan reported participants rose from 12,827 in the plan year 2023 filing to 12,841 in the plan year 2024 filing.

See the national 2023→2024 release diff →

Plan-year Form 5500 strip

Filing strip 421520346 · Principal Financial Group, Inc. PY 2024 · 401(k)

The Principal Select Savings Plan · $4.6B · 12,841 · 100th

  • VS-ST $4.6B
  • BOY 12,841
  • SCH 100th
  • EBSA 401(k)
  • PART near Baxter International Inc. and Subsidiaries U.S. Retirement Savings Plan
  • TYPE ind #8490

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 →

The Principal Select Savings Plan in the asset neighbourhood

Optumcare 401(k) Retirement PlanOptumcare 401(k) Retirement …$4.6BFederal National Mortgage Association Retirement Savings Plan for EmployeesFederal National Mortgage As…$4.6BBosch Savings Incentive Plan$4.6BThe Principal Select Savings PlanThe Principal Select Savings…$4.6BBaxter International Inc. and Subsidiaries U.S. Retirement Savings PlanBaxter International Inc. an…$4.6B
End-of-year total assets ($B) among The Principal Select Savings Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2024.

Iowa filing particulars

Total Assets (Beginning of Year)$4.1B
Net Assets (End of Year)$4.6B
Net Income$445M
Employer EIN421520346
Plan Effective Date1985-01-01
Filing StatusFILING 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
$5B$5.5B$6B$6.5B 202220232024 $5.21B $6.07B ▲ +16.5%
Year Plans Participants Total Assets
2022 4 36,517 $5.2B
2023 3 25,319 $5.9B
2024 3 24,786 $6.1B

Nearby 401(k) Plans in Iowa

Peer 401(k) plans, same state, same plan type, ranked by total assets.

The Principal Select Savings Plan vs. nearby 401(k) plans in Iowa, assets vs. participants Scatter plot of 6 data points. 0200004000060000 12345 Total assets ($B) Participants The Principal Select Savings Plan, Total assets ($B): 4.579548793 · Participants: 12841The Principal Select Savings PlanThe Rsm US LLP Retirement Plan, Total assets ($B): 3.375271119 · Participants: 14728The Rsm US LLP Retirement PlanIowa Health System Section 401(k) Retirement Savings Plan, Total assets ($B): 3.306182291 · Participants: 25072Iowa Health System Section 401(k) Retirement Savings PlanThe Hy-Vee and Affiliates 401(k) Plan, Total assets ($B): 3.1084169 · Participants: 55411The Hy-Vee and Affiliates 401(k) PlanTransamerica 401(k) Retirement Savings Plan, Total assets ($B): 2.720479704 · Participants: 8059Transamerica 401(k) Retirement Savings PlanMidamerican Energy Company Retirement Savings Plan, Total assets ($B): 1.984497578 · Participants: 6813Midamerican Energy Company Retirement Savings Plan
The Principal Select Savings Plan vs. nearby 401(k) plans in Iowa, assets vs. participants
Compare The Principal Select Savings Plan side-by-side with 3 peers →

Scale composition for The Principal Select Savings Plan

The Principal Select Savings Plan reports $4.6B in end-of-year assets across 12,841 participants (0.037% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.014% of 93,925,755 covered participants) - about $356,635 per participant (2.6x the national average assets-per-participant) . Net income for plan year 2024 was $445M.

This plan identity (EIN 421520346, plan #003) has 3 Form 5500 filings on file from 2022 to 2024 , with end-of-year assets moving from $3.6B to $4.6B (+26.7%) while covered participants moved from 12,201 to 12,841 . Single-year sparse filers cannot show that trail.

Plan year Participants EOY assets Filing
2022 12,201 $3.6B Open filing
2023 12,827 $4.1B Open filing
2024 · index core 12,841 $4.6B This page

The same sponsor also keeps 1 other index-core plan on PlainRetire:

The Principal Select Savings Plan's out-of-state 401(k) peers by assets and headcount

Outside Iowa, the nearest 401(k) by assets is Baxter International Inc. and Subsidiaries U.S. Retirement Savings Plan in IL ($4.6B); by covered participants it is Ags Payroll Services LLC 401(k) Plan in NY (12,826 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (12,841 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did The Principal Select Savings Plan assets move in 2024? ▼
The Principal Select Savings Plan grew at a solid clip - up 10.8% during 2024, from $4.1B to $4.6B. Reported net income was $445M.
How have Principal Financial Group, Inc. plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Principal Financial Group, Inc.'s sponsor-wide assets grew 16.5%, from $5.2B to $6.1B.
Where does The Principal Select Savings Plan rank by assets among Form 5500 filers? ▼
The Principal Select Savings Plan ranks in the 100th percentile by end-of-year assets among 123,622 plans that reported assets for plan year 2024 (among the largest 1% of all filed plans).
Which 401(k) plans are similar in size to The Principal Select Savings Plan? ▼
Among 401(k) plans in other states, the closest by assets is Baxter International Inc. and Subsidiaries U.S. Retirement Savings Plan in IL ($4.6B, 17,271 participants).
Which 401(k) plans cover a similar participant headcount to The Principal Select Savings Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Ags Payroll Services LLC 401(k) Plan in NY (12,826 participants, $65M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 421520346.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.