Defined Benefit (Pension) · DOL Form 5500 · 2024
Principal Financial Group, Inc. Pension Plan
Data updated 2026-08-25
- $1.5B
- Total assets Very large vs avg
- 11,945
- Participants Very large workforce
- 99th
- Percentile by assets National rank
- $122,762
- Avg per participant Near avg balance/head
Official DOL plan name: Principal Cash Balance Plan · Sponsored by Principal Financial Group, Inc. · Iowa · Finance & Insurance
$1.5B in assets, 11,945 participants
Principal Financial Group, Inc.'s Principal Cash Balance Plan reported $1.5B in total assets and 11,945 participants in its 2024 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.
- #8,373 in Finance & Insurance (8,549 peers)
Coverage in Iowa
Principal Cash Balance Plan covers 11,945 participants in Iowa, 20x the typical Iowa plan (state average ~609 per filing). Assets: $1.5B.
- #8,373
- in Finance & Insurance (8,549 peers)
- -13.7%
- assets change YoY
- 15×
- vs typical plan assets (national mean)
The plan reported a net loss of $207M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.
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 2024 · DOL Form 5500
$1,466,387,124 Top 1% higher than 99% of 123,620 filed plans
Dashed line + filled bar = this entry, among filed plans.
Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2024
Principal Cash Balance 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. Principal Cash Balance Plan is a mega filing (11,945 participants), the rightmost band on the breakdown.
What changed between DOL Form 5500 filings
plan year 2023 → plan year 2024
- Principal Cash Balance Plan reported net income fell from $121M in the plan year 2023 filing to -$207M in the plan year 2024 filing.
- Principal Cash Balance Plan end-of-year assets fell from $1.7B in the plan year 2023 filing to $1.5B in the plan year 2024 filing.
- Principal Cash Balance Plan reported participants fell from 12,492 in the plan year 2023 filing to 11,945 in the plan year 2024 filing.
Published 5500 schedule card
Filing strip 421520346 · Principal Financial Group, Inc. PY 2024 · Defined Benefit (Pension)
Principal Cash Balance Plan · $1.5B · 11,945 · 99th
- BOY $1.5B
- BOY 11,945
- BOY 99th
- BOY Defined Benefit (Pension)
- BOY near Aon Retirement Pension Plan
- BOY ind #8373
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) | $1.7B |
|---|---|
| Net Assets (End of Year) | $1.5B |
| Net Income | -$207M |
| 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 $2.2B · 7,170
- Midamerican Energy Company Retirement Plan $521M · 2,805
- Employers Mutual Casualty Company Retirement Plan $362M · 1,908
- Pension Plan of the Plumbers and Steamfitters Local Union No. 33 Retirement Trust $331M · 1,233
- Fbl Financial Group Retirement Plan $254M · 533
Scale composition for Principal Cash Balance Plan
Principal Cash Balance Plan reports $1.5B in end-of-year assets across 11,945 participants (0.012% of the $12.3T held by all Form 5500 filers in the national rollup , and 0.013% of 93,925,755 covered participants) - about $122,762 per participant (89% of the national average assets-per-participant) . Net income for plan year 2024 was -$207M.
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 | Open filing |
| 2024 · index core | 11,945 | $1.5B | This page |
The same sponsor also keeps 1 other index-core plan on PlainRetire:
- The Principal Select Savings Plan (401(k), $4.6B, 12,841 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 Aon Retirement Pension Plan in GA ($1.5B); by covered participants it is Pension Plan of General Atomics in CA (11,958 participants). Same-state nearby plans are listed separately above.
Closest by plan assets
Nearest other-state filings by tot_assets_eoy ($1.5B here).
- Aon Retirement Pension Plan (GA) $1.5B · 1,646
- Nyu Langone Hospitals Retirement Plan (NY) $1.5B · 2,774
- Western Washington Laborers-Employers Pension Plan (WA) $1.5B · 10,507
- Cleveland-Cliffs Combined Pension Plan (OH) $1.5B · 2,727
Similar participant headcount
Nearest other-state filings by covered participants (11,945 participants); asset peers above are excluded.
- Pension Plan of General Atomics (CA) 11,958 · 13 off
- Carpenters Pension Trust Fund of St. Louis (MO) 11,832 · 113 off
- Dominion Energy Pension Plan (VA) 11,758 · 187 off
- Phillips 66 Retirement Plan (TX) 11,709 · 236 off
DOL Form 5500 plan year 2024. Asset totals can differ widely at the same headcount; neither axis is a quality rating.