Get help understanding your workplace retirement plan, including how to enroll, change your contributions, update your beneficiaries, and more.
Any retirement plan offered by your employer would be listed as part of your benefits package. If you’re not sure, contact your human resources department or hiring manager.
Typically when you are hired, you receive information about enrolling in your employer-sponsored retirement plan. Enrollment happens one of two ways: You elect to contribute to the plan, or your employer opts you in automatically (called auto enroll). The easiest way to check if you are enrolled? Look at your paystub for deductions, typically listed as “401(k) contributions” or “retirement.”
You can create an account by following the steps at principal.com/welcome. Or, download the Principal app and answer the prompts.
You can also contact your human resources representative or hiring manager for information on how to enroll in your employer-sponsored retirement plan.
You can check contributions to your retirement savings plan in a couple of different ways: On your Principal dashboard, which you may access either through a desktop browser or the Principal app (see below for log in instructions), or by viewing your paystub. On your paystub, those contributions are typically listed as “401(k) contributions” or “retirement” and will be a percentage of your total pay.
Generally, you are able to change your rate of contributions to your plan at any time; changes typically go into effect based on plan provisions and payroll timing. To get started, log in to view your dashboard. Click on the 401(k) account card on the left. On the top menu, hover over “Contributions,” then click on “Manage contributions.” Follow the on-screen commands.
If you are enrolled in auto escalation by your employer, or you choose to enroll in this option yourself, your contributions will automatically increase, typically once a year until you reach a maximum percentage (often 15%). You may also choose to save more in your plan by following the steps above.
One rule of thumb suggests saving 15% for 40 years in retirement savings accounts. But what you do is all about your goals. If you’re not sure or want to evaluate different strategies, use our online Retirement Wellness Planner tool to help:
- see how you may be progressing toward your retirement savings goals.
- easily manage, visualize, and plan your retirement savings.
- determine how small changes can help you reach your retirement goals.
To access the tool, log in to your Principal account, then click on the box listing your workplace retirement savings plan on the left side of the screen. Hover over “Planning resources” on the top menu, then scroll down to “Retirement Wellness Planner.” There, you can edit factors like your expected retirement age and current salary.
If you don't want to log in or you don't have a retirement account with Principal, you can use this version of our Retirement Wellness Planner.
You may log in on any Principal.com page. Look for the blue “Log in” button on the top right corner. Use this helpful how-to for detailed instructions.
You’ll need to set up your account with a username and password. Follow the steps here.
Log in, then navigate to “My profile” on the top menu. There, you can change your password, mailing address, email address, mobile phone number, security settings, and more.
Go to the log in page. Under the “Log in” button, click “Forgot username or password?” Choose “Individuals” as your role. Confirm your identity by providing the requested information; click “Continue.” You’ll receive a verification code by text, voice call, or an authenticator app; enter it. You'll see your username and may reset your password; you can also return to the log in page.
Investment options vary from plan to plan. To view or change yours, start by logging in. Look for the account you want to review. Navigate to “Investments” on the top menu, then scroll down to “Change investments.” From there, follow the on-screen prompts.
Start by logging in. Look for the account you want to review. Navigate to “Investments” on the top menu, then scroll down to “Investment details.” Scroll to the bottom of the page and click on “Change investments”; follow the on-screen prompts.
To view documents or other notices related to your plan, start by logging in. On the left menu, click the box listing the account to review. Navigate to “Overview” on the top menu, then scroll down to “Plan information & details.” Your Plan Summary and Summary Plan Description (PDF) offers lots of information about your retirement plan.
If you have signed up for electronic delivery of your tax documents, you can view them at any time. Start by logging in to your Principal account. At the top right-hand corner, click on the arrow next to your name; scroll down to “My profile” and click. On that page, click on “Tax documents.”
If you have not signed up for e-delivery, on the “My profile” page, click on “Manage delivery preferences.” Click on the “email notification” buttons for all eligible documents you wish to receive electronically.
If you received a distribution of more than $10 from a retirement plan, you will receive a 1099R. Find more information on the 1099R.
Start with this list.
Start by logging in. On the left menu, click the box of the account to review. On the top menu, click “Overview,” then scroll down to “Beneficiaries.” Follow the on screen prompts to add or edit beneficiaries.
Check first to see if your plan allows you to roll over or roll in funds. Your Plan Summary and Summary Plan Description (PDF, found under “Plan information & details”) offers details. To begin a rollover, download the Principal app. Log in to your account, then select the account to update. Scroll to the bottom of the screen and select “Rollovers.” If logged in through a desktop browser, click the box of the account to review. On the top menu, click on “Rollovers,” then follow the on screen prompts.
Your options depend on your plan, but generally you may be able to roll your savings into an IRA, keep your savings in your former employer’s plan (if allowed), roll your savings to a new employer’s plan (if available and allowed), or cash out the account. Find more details about each option by logging in to your account. Click on the box for your 401(k) account, then click on “My options” and answer the prompts.
Not all plans allow withdrawals or loans. Here’s how you can check if your Principal plan allows you to take money out in the form of a loan or withdrawal: Log in to your account. On your dashboard, click on the box for your 401(k) account. In the top menu, click on “My options” and answer the prompts. If you would like more plan details, navigate to "Overview," then scroll down to "Plan information & forms." Find the Summary Plan Description; that booklet should have information about withdrawals or loans, if allowed.
Read more about taking money out with a 401(k) loan or withdrawal.
If you have a plan through Principal, you may be able to request a required minimum distribution, or RMD, online. Here’s what to do. Log in to your account. On your individual dashboard, you’ll see a list of accounts on the left. Click on the relevant account. You’ll see an estimated RMD at the top of the screen. Click on “Start my RMD request.” Next, you’ll be asked to confirm your citizenship status and receive a distribution summary that also confirms federal tax withholding. You’ll then enter delivery details and complete a final review. Learn more about the dates and rules for RMDs.