Principal Financial Group

Your company not only didn’t print my complete address on a check being sent to me, resulting in that check going to “unclaimed property”. I was then sent a form to that same (incompletely printed) address telling me I need to spend my own money and time on a notary to update the format of the same address to receive that check. After supervisor “Steve” who wouldn’t provide me a last name repeated several times he can’t help but is sorry, I’ve had no option but to do as you all request. This process is unfair and broken. Should I have moved or needed to update a spelling error or something on my end, I would understand, but to have to spend time and money to fix a clerical or printing error on your end is erroneous. Terrible process. Terrible customer support.

It’s no surprise Principal Financial has a 1.6-star rating. My experience with them as the record keeper for my former employer’s retirement plan has been nothing short of disappointing. After leaving my company, I requested to roll over my retirement funds into another account—something that should be a simple and standard process. Instead, I was hit with a $100 distribution fee, just to have them cut a check. That’s not a service fee—it’s highway robbery. Even if I had chosen to keep my funds with them, they made it clear the fee would still apply. There was no willingness to waive it or offer any flexibility, which only reinforces how out of touch this company is with customer service and industry standards. With countless low-cost and customer-focused providers out there, I can’t un

Thieves, how can they have access my money to take over $200 from my 401k but I can't withdraw it? Really messed up and frustrating to deal with.

I want to close my account and withdraw the funds. Was put through to the Retirement Services to be told that this has to be done via snail mail and they have no electronic facilities. When I asked them to overnight the forms to me, he refused saying they will use the mail service as this was their process. I was told it will "get there when it gets there". Also said they take a few weeks to review the forms! He then went onto tell me this was my employer's fault, which I do not believe as I was in the IT department and the company was at the forefront of technology. DO NOT invest with Principal.

I'd give zero stars if I could. My company moved our 401k assets to Principal several months ago. I left the company 3 weeks ago and have called Principal several times to initiate a rollover to my IRA at another bank. Their staff doesn't even seem to understand what a 401k is or how to roll the account to another bank. I get different answers every time, none of them getting me to the point I can even initiate the rollover. Their staff is absolutely incompetent and make it difficult to gain access to your hard earned retirement funds. I would avoid this institution at all costs if you can.