*Retirement account assets at all: “Retirement in America: Out of Reach for Working
Americans?” Jennifer Erin Brown, Joelle Saad-Lessler, and Diane
Oakley, National Institute on Retirement Security, September 2018.
Simply Retirement by Principal
401(k) plan recordkeeping and administrative services are provided
through Decimal, Inc. dba Ubiquity Retirement + Savings
(“Ubiquity”). Ubiquity is not affiliated with any plan and
investment administrative services provided through Principal Life
Insurance Co., or affiliated with any company of the Principal
. Principal makes available the investment options for customers to
select through Simply Retirement by Principal
. All other services provided by service providers not affiliated
with any company of the Principal Financial Group. Refer to related
documents and agreements for more details on plan services
Simply Retirement by Principal
requires a client service agreement between Ubiquity and the plan
sponsor (Customer). In addition to and as part of the services, each
Customer will sign separate agreements with the following parties:
(i) custodian (ii) 3(38) investment manager, and (iii) a Principal
Life Insurance Company for each Principal Comprehensive Retirement
Program (PCRP) offered through the Modular Group Annuity Contract
for separate accounts, and a declaration of trust for Principal
collective investment funds. Simply Retirement by Principal
services and costs are subject to change.
“LIMRA Research Finds 4 in 10 Small Businesses
Currently Offer Retirement Benefits,” January 2019.
*Per participating employee:Fees paid by the business owner are billed quarterly. Fees paid by participants are deducted monthly from participant accounts.
*Recordkeeping-fee:Pricing shown applies when working with a TPA. Bundled pricing is a $500 initial setup fee, then $185 per month. Fees paid by the business owner are billed quarterly. Fees paid by participants are deducted monthly from participant accounts. Participant fees are charged if there is a $100 account balance, regardless of whether the participant is active or inactive. Custodial and investment fees are charged against participating employees’ accounts (those vary by investment and range from 0.03% - 0.86%, as of June 30, 2023, 2022). If the business owner chooses to work with a financial professional and/or TPA, their fees are also additional and may be billed to the business owner. Financial professional fees may be deducted from participant accounts.
*What’s included: Plan costs are billed quarterly. Custodial and investment fees are charged against participating employees’ accounts (those vary by investment and range from 0.03% – 0.86%, as of June 30, 2023). Should you choose to work with a financial professional, their fee is also additional.
*Investment lineup: As part of the Simply Retirement by Principal®solution, Wilshire Investments, Inc. is the fiduciary responsiblefor the selection and monitoring of the investments.
*Plan:This credit is for plans that include the eligible automatic contribution arrangement (EACA) feature only. In addition, SECURE 2.0 Act legislation allows small businesses with fewer than 100 employees to claim a tax credit of 50% of the qualifying start-up costs for a new employee retirement plan for the first three years of the plan as follows but limited to the greater of (1) $500 or (2) the lesser of (a) $250 for each non-highly compensated employee who is eligible to participate in the plan or (b) $5,000. Information about the SECURE Act is educational only and provided with the understanding that Principal® is not rendering legal, accounting, investment advice or tax advice. You should consult with appropriate counsel or other financial professionals on all matters pertaining to legal, tax, investment or accounting obligations and requirements.