Principal® Collaborates With FuturePlan to Meet Heightened Demand for Pooled Retirement Plans

Principal Financial Group^®, a leader in pooled retirement plan offerings with over $3.5 billion in total assets¹, today announced the successful transition of administrative responsibilities for Principal^® EASE, the firm's largest Pooled Employer Plan (PEP) by client count, to FuturePlan. This move enables Principal^® to better align its recordkeeping and investment capabilities with the fiduciary and administrative expertise of third-party administrators (TPAs) like FuturePlan.

"As the PEP and small- and mid-sized business (SMB) market continues to grow and evolve, we remain committed to adapting our services and solutions to meet customer needs and market expectations," said Sean Jordan, vice president of Retirement and Income Solutions at Principal. "Maintaining and growing relationships with TPAs and retirement plan advisers strengthens our customer-first approach by providing enhanced expertise and service experiences while optimizing our offerings."

With the number of 401(k) plans in the U.S. projected to grow 66% by 2030 – from over 600,000 plans to over one million, according to Cerulli Associates² – more SMBs, retirement plan advisers, and TPAs are evaluating PEPs as an efficient and cost-effective retirement plan option to support the savings goals of working Americans.

Adding FuturePlan as the pooled plan provider, 3(16) plan administrator, and TPA for Principal^® EASE – all of which went into effect July 1 – enables Principal to deepen its focus on building more customer-centric capabilities, investment offerings, and innovations for all plans in collaboration with retirement plan advisers and TPAs. The change will also optimize the service experience customers receive through the collective expertise of the two firms.

"We're proud to build on our longstanding relationship with Principal," said Kasey Price, president of FuturePlan. "This milestone reflects our leadership in the retirement space and our shared commitment to innovation and excellence in client and participant service. We look forward to serving even more savers as we continue growing together."

Principal has four PEPs in total, including three of the largest in the industry by asset size.³ Together, these plans serve approximately 750 employers and over 86,000 participants.⁴ Principal^® EASE appeals to SMBs and retirement plan advisers, as nearly 70% of the employers participating in Principal^® EASE are new to offering a retirement plan, and three-fourths have 100 or fewer participants.⁵

About Principal Financial Group^®

Principal Financial Group^® (NASDAQ:PFG) is a global financial company with approximately 20,000 employees⁶ passionate about improving the wealth and well-being of people and businesses. In business for 145 years, we're helping approximately 70 million customers⁷ plan, protect, invest, and retire, while working to support the communities where we do business. Principal is proud to be recognized as one of the 2025 World's Most Ethical Companies⁸ and named as a "Best Places to Work in Money Management⁹." Learn more about Principal and our commitment to building a better future at principal.com.

About FuturePlan

FuturePlan is a leading national retirement TPA dedicated to helping advisors, recordkeepers, and plan sponsors deliver better outcomes for savers. Its highly responsive, personalized service is backed by the strength and security of a national leader in Ascensus. As of March, 31, 2025, FuturePlan's experienced team of experts supports more than 37,000 retirement plans with more than 1.4 million participants and more than $113 billion in assets under administration. For more information, visit futureplan.com.

FuturePlan's leadership team brings decades of expertise to serve clients and partners. Ascensus began building FuturePlan in 2010, uniting more than 30 exceptional retirement TPA firms from across the nation to transform the industry. The depth of experience, diverse strengths, and specialized expertise of our legacy TPA firms make FuturePlan an industry leader.

FuturePlan and FuturePlan Fiduciary Services, LLC (collectively referred to as FuturePlan) provide plan design, administration, and compliance services. They are not broker-dealers nor investment advisors and do not provide tax, legal, or accounting services.

FuturePlan Fiduciary Services, LLC is not affiliated with any member of the Principal Financial Group^®.

Insurance products issued by Principal National Life Insurance Co (except in NY) and Principal Life Insurance Company^®. Plan administrative services offered by Principal Life. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker/-dealers. Principal Global Investors leads global asset management. Referenced companies are members of the Principal Financial Group^®, Des Moines, Iowa 50392.

Principal^®, Principal Financial Group^®, and Principal and the logomark design are registered trademarks of Principal Financial Services, Inc., a Principal Financial Group company, in the United States and are trademarks and services marks of Principal Financial Services, Inc., in various countries around the world.

© 2025 Principal Financial Services, Inc.

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Media Contact: Sara Bonney, 515-878-0835, [email protected]