DC PCRP Contract Investment Performance

These performance results are for the Z Defined Contribution PCRP contract Separate Accounts. Results for your contract may differ. For information specific to your contract, Login to access your products and services.

Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.

In situations where the net and gross expense figures are different, the investment manager has contractually agreed to limit the investment option's expense. Differences may also be shown due to the investment manager choosing to pay certain expenses that would normally be payable by the investment option. The gross total investment expense figure does not reflect any waivers or caps on the mutual fund or underlying mutual fund in which a Separate Account invests. Returns displayed are always based on net total investment expense.

Not FDIC Insured
May Lose Value - Not a Deposit - No Bank Guarantee
Not Insured by any Federal Government Agency

14 of 14
Low Risk/Return
High Risk/Return
Inv Manager or Sub-Advisor / Investment Unit Value YTD % * 1 Mo 3 Mo 1 Yr 3 Yrs 5 Yrs 10 Yrs Since Inception Inception Date Net Gross Contrct. Cap /
Waiver Exp. Date
03/27/2024
Values
Average Annual Total Returns as of
02/29/2024
Total Investment Expense
Large Value
Principal Global Investors
Equity Income Separate Account-R6   3, 11, 31
54.07 7.53 2.80 9.54 12.70 6.65 9.29 9.21 8.64 06/30/2009 0.68 0.70 02/28/2025
N/A
Westwood / Barrow Hanley
LargeCap Value III Separate Account-R6   3, 18, 30
46.81 8.18 3.36 8.80 14.13 8.75 9.74 8.94 6.70 12/29/2000 0.88 0.95 N/A
02/28/2025
Large Blend
Principal Global Investors
Capital Appreciation Separate Account-R6   3, 11, 14, 31
74.01 11.85 5.76 13.49 32.22 12.85 15.39 12.72 12.63 06/30/2009 0.62 0.62 N/A
N/A
Principal Global Investors
LargeCap S&P 500 Index Separate Account-R6   2, 8, 27, 29, 35
268.69 10.33 5.31 11.87 29.99 11.55 14.40 12.33 10.01 01/01/1990 0.31 0.31 N/A
N/A
Large Growth
Principal Global Investors
Blue Chip Separate Account-R6   3, 11, 29
45.65 9.90 5.06 12.34 44.14 9.37 16.58 15.07 16.22 09/30/2013 0.73 0.76 N/A
12/30/2024
T. Rowe Price/Brown Advisory
LargeCap Growth I Separate Account-R6   3, 18, 30, 40
65.59 10.86 5.73 14.81 44.56 6.78 14.37 13.55 8.36 12/29/2000 0.75 0.77 N/A
02/28/2025
Mid Cap Value
LA Capital Mgmt/Victory
MidCap Value I Separate Account-R6   1, 3, 18, 30
137.43 9.11 4.59 10.13 10.90 9.32 11.10 8.63 8.85 07/01/1999 0.78 0.80 N/A
02/28/2025
Principal Global Investors
Small-MidCap Dividend Income Separate Account-R6   1, 3, 11, 31
24.29 7.89 4.43 12.85 14.25 9.12 7.85 7.84 9.64 09/30/2013 0.95 0.95 12/30/2024
N/A
Mid Cap Blend
Principal Global Investors
MidCap S&P 400 Index Separate Account-R6   1, 2, 10, 27, 29, 35
98.55 9.43 5.91 13.10 12.69 6.31 10.02 9.06 9.56 08/31/1999 0.31 0.31 N/A
N/A
Mid Cap Growth
Principal Global Investors
MidCap Growth Separate Account-R6   1, 29
92.61 9.46 7.19 11.79 15.56 -4.26 10.39 9.66 7.99 06/01/1995 0.82 0.82 N/A
N/A
Robert Baird/Eagle Asset Mgmt
MidCap Growth III Separate Account-R6   1, 3, 18, 30
58.43 7.18 6.42 14.02 17.51 2.16 11.00 9.60 7.23 10/28/1999 0.96 0.98 N/A
02/28/2025
Small Value
Vaughan Nelson/H&W
SmallCap Value II Separate Account-R6   1, 3, 18, 30
48.45 2.75 2.81 10.67 8.69 7.81 9.14 7.61 8.10 06/01/2004 1.10 1.12 N/A
02/28/2025
Small Blend
Principal Global Investors
SmallCap S&P 600 Index Separate Account-R6   1, 2, 9, 27, 29, 35
92.65 1.86 3.37 11.91 6.25 1.92 7.35 8.16 9.39 08/31/1999 0.31 0.31 N/A
N/A
Principal Global Investors
SmallCap Separate Account-R6   1, 29, 33
285.61 6.98 5.19 13.24 7.86 1.09 8.26 7.69 10.50 01/01/1991 0.92 0.92 N/A
N/A
Small Growth
AB/Brown/Emerald
SmallCap Growth I Separate Account-R6   1, 3, 18, 30
47.72 6.88 8.11 15.64 13.47 -4.09 7.80 8.45 6.90 12/29/2000 1.03 1.05 02/28/2025
02/28/2025
Real Estate
Principal Real Estate Inv
Real Estate Securities Separate Account-R6   3, 7, 11, 29, 40
73.14 -2.66 1.52 5.02 3.48 3.78 4.87 7.08 9.75 12/31/2002 1.11 1.11 N/A
N/A
Diversified Emerging Mkts
Origin Asset Management LLP
Origin Emerging Markets Separate Account-R6   3, 4, 29, 37
9.56 4.85 7.16 7.84 10.98 -8.80 1.52 N/A 1.82 10/31/2019 1.16 1.16 N/A
N/A
Principal Global Investors
Global Emerging Markets Separate Account-R6   4, 29
69.20 3.83 4.45 4.54 11.81 -5.90 2.79 2.40 6.76 01/01/1995 1.58 1.58 N/A
N/A
Foreign Large Value
Causeway / Barrow Hanley
Overseas Separate Account-R6   3, 4, 18, 30
24.17 1.74 0.57 2.81 10.13 6.27 7.39 3.82 5.63 09/30/2008 1.09 1.11 N/A
02/28/2025
Foreign Large Blend
Origin Asset Management LLP
International I Separate Account-R6   3, 4, 18, 29
67.09 7.32 5.05 9.49 14.70 -0.62 6.16 4.63 4.33 07/01/1999 0.98 1.00 02/28/2025
N/A
Principal Global Investors
Diversified International Separate Account-R6   4, 29
116.46 7.44 3.61 8.21 15.83 1.48 6.68 4.24 6.82 05/20/1987 1.07 1.07 N/A
N/A
Principal Global Investors
International Equity Index Separate Account-R6   2, 3, 4, 22, 23, 27, 29
20.66 5.99 2.88 7.76 14.54 4.19 6.46 4.02 4.99 12/30/2009 0.47 0.49 12/30/2024
N/A
Foreign Small/Mid Blend
Principal Global Investors
International SmallCap Separate Account-R6   1, 4, 29
133.21 4.96 1.61 5.31 7.00 -2.27 2.46 3.06 9.11 01/01/1995 1.53 1.53 N/A
N/A
Global Real Estate
Principal Real Estate Inv
Global Real Estate Securities Separate Account-R6   3, 4, 7, 11, 29
15.21 -2.30 -0.13 3.68 0.91 -2.04 0.46 3.62 2.93 09/30/2013 1.05 1.05 N/A
N/A
Conservative Allocation
Multiple Sub-Advisors
SAM Flexible Income Separate Account-R6   11, 12, 13, 16, 19, 21, 28, 31, 38
42.69 2.31 0.52 4.83 8.38 0.60 3.33 3.47 5.34 01/16/2007 0.88 0.88 N/A
N/A
Moderately Conservative Alloc
Multiple Sub-Advisors
SAM Conservative Balanced Separate Account-R6   11, 12, 16, 19, 21, 28, 31, 38
41.73 3.59 1.36 6.01 11.54 1.81 4.93 4.56 5.24 01/16/2007 0.92 0.92 N/A
N/A
Moderate Allocation
Multiple Sub-Advisors
SAM Balanced Separate Account-R6   11, 12, 16, 19, 21, 28, 31, 38
67.33 5.70 2.64 7.93 16.58 3.83 7.06 6.12 7.06 01/16/2007 0.96 0.96 N/A
N/A
Moderately Aggressive Alloc
Multiple Sub-Advisors
SAM Conservative Growth Separate Account-R6   11, 12, 16, 19, 21, 28, 31, 38
78.67 7.14 3.61 9.43 20.62 5.50 8.89 7.50 7.65 01/16/2007 0.99 0.99 N/A
N/A
Aggressive Allocation
Multiple Sub-Advisors
SAM Strategic Growth Separate Account-R6   11, 12, 13, 16, 19, 21, 28, 31, 38
91.09 8.26 4.30 10.47 23.47 6.54 10.45 8.37 8.21 01/16/2007 1.02 1.02 N/A
N/A
Target-Date Retirement
Multiple Sub-Advisors
Principal LifeTime Strategic Income Separate Account-R6   12, 16, 19, 21, 28, 29, 36, 41, 42
26.25 2.71 0.90 4.93 9.70 0.53 3.78 3.40 4.22 03/30/2001 0.66 0.68 02/28/2025
N/A
Target-Date 2015
Multiple Sub-Advisors
Principal LifeTime 2015 Separate Account-R6   12, 16, 19, 21, 28, 29, 36, 41, 42
21.40 2.84 0.95 4.97 9.95 1.15 4.90 4.49 4.75 02/29/2008 0.69 0.69 N/A
N/A
Target-Date 2020
Multiple Sub-Advisors
Principal LifeTime 2020 Separate Account-R6   12, 16, 19, 21, 28, 29, 36, 41, 42
36.58 3.38 1.40 5.70 11.18 1.73 5.65 5.09 5.73 03/30/2001 0.70 0.70 N/A
N/A
Target-Date 2025
Multiple Sub-Advisors
Principal LifeTime 2025 Separate Account-R6   12, 16, 19, 21, 28, 29, 36, 41, 42
24.54 4.04 1.75 6.27 12.28 2.25 6.41 5.69 5.63 02/29/2008 0.72 0.72 N/A
N/A
Target-Date 2030
Multiple Sub-Advisors
Principal LifeTime 2030 Separate Account-R6   12, 16, 19, 21, 28, 29, 36, 41, 42
41.23 4.48 2.14 7.12 13.97 2.69 7.10 6.18 6.26 03/30/2001 0.74 0.74 N/A
N/A
Target-Date 2035
Multiple Sub-Advisors
Principal LifeTime 2035 Separate Account-R6   12, 16, 19, 21, 28, 29, 36, 41, 42
27.53 5.29 2.69 7.77 15.57 3.29 7.79 6.70 6.36 02/29/2008 0.76 0.76 N/A
N/A
Target-Date 2040
Multiple Sub-Advisors
Principal LifeTime 2040 Separate Account-R6   12, 16, 19, 21, 28, 29, 36, 41, 42
46.50 6.20 3.27 8.69 17.58 4.05 8.52 7.17 6.80 03/30/2001 0.79 0.79 N/A
N/A
Target-Date 2045
Multiple Sub-Advisors
Principal LifeTime 2045 Separate Account-R6   12, 16, 19, 21, 28, 29, 36, 41, 42
30.10 6.97 3.71 9.28 19.09 4.62 9.05 7.52 6.93 02/29/2008 0.81 0.81 N/A
N/A
Target-Date 2050
Multiple Sub-Advisors
Principal LifeTime 2050 Separate Account-R6   12, 16, 19, 21, 28, 29, 36, 41, 42
47.99 7.43 4.12 9.77 20.13 5.01 9.42 7.76 6.93 03/30/2001 0.83 0.83 N/A
N/A
Target-Date 2055
Multiple Sub-Advisors
Principal LifeTime 2055 Separate Account-R6   12, 16, 19, 21, 28, 29, 36, 41, 42
31.06 7.51 4.06 9.73 20.06 5.13 9.53 7.88 7.12 02/29/2008 0.83 0.83 N/A
N/A
Target-Date 2060
Multiple Sub-Advisors
Principal LifeTime 2060 Separate Account-R6   12, 13, 16, 19, 21, 28, 29, 36, 41, 42
26.87 7.45 4.10 9.78 20.12 5.22 9.66 7.92 9.08 03/01/2013 0.83 0.83 N/A
N/A
Target-Date 2065+
Multiple Sub-Advisors
Principal LifeTime 2065 Separate Account-R6   12, 13, 16, 19, 21, 28, 29, 34, 36, 41, 42
16.45 7.46 4.04 9.72 20.05 5.19 9.69 N/A 8.83 12/29/2017 0.86 0.86 N/A
N/A
Global Allocation
Multiple Sub-Advisors
Diversified Real Asset Separate Account-R6   3, 11, 20, 27, 30
14.92 1.19 0.08 1.28 0.44 2.71 4.27 2.08 3.72 12/31/2010 0.94 0.94 12/30/2024
N/A
Stable Value
Morley Capital Management
Principal Stable Value Fund   43
21.45 0.37A 0.18 0.55 2.23 1.61 1.63 1.41 2.84 01/09/1997 0.80 0.80 N/A
N/A
Short Term Bond
Principal Global Investors
Short-Term Income Separate Account-R6   3, 11, 15, 16, 27, 31
12.75 0.99 -0.27 1.77 5.40 0.49 1.71 1.62 3.43 12/31/2010 0.57 0.57 N/A
N/A
Money Market
Principal Global Investors
SEC 7-Day Yield as of 02/29/2024 is 4.97% 44
Liquid Assets Separate Account-R6   6, 26, 29
55.86 1.21 0.39 1.24 4.87 2.09 1.56 0.94 4.05 12/10/1980 0.56 0.56 N/A
N/A
Multisector Bond
Multiple Sub-Advisors
Diversified Income Separate Account-R6   3, 11, 17, 27, 30
14.96 1.28 -0.36 3.38 6.47 1.25 2.74 3.29 7.42 09/30/2013 0.85 0.88 02/28/2025
N/A
High Yield Bond
Insight/Polen/Post
High Income Separate Account-R6   3, 5, 15, 16, 30
29.16 1.52 0.19 3.79 10.30 1.64 3.25 3.19 5.68 12/31/2004 0.77 0.79 N/A
02/28/2025
Principal Global Investors
High Yield Separate Account-R6   3, 5, 11, 15, 16, 29
16.22 1.71 0.00 3.93 10.66 2.76 4.50 4.24 6.76 09/30/2013 0.69 0.69 N/A
N/A
Intermediate Core Bond
Principal Global Investors
Bond Market Index Separate Account-R6   2, 15, 16, 30
12.99 -0.90 -1.48 1.98 2.93 -3.40 0.17 0.99 1.80 12/30/2009 0.41 0.41 N/A
N/A
Principal Global Investors
Core Fixed Income Separate Account-R6   3, 11, 15, 16, 31
16.59 -0.48 -1.40 2.39 3.30 -2.99 0.63 1.59 6.55 06/30/2009 0.51 0.51 N/A
N/A
Intermediate Core-Plus Bond
Principal Global Investors
Core Plus Bond Separate Account-R6   15, 16, 27, 29
1272.05 -0.80 -1.60 2.37 2.47 -3.51 0.73 1.43 6.36 02/01/1983 0.72 0.72 N/A
N/A
Intermediate Government
Principal Global Investors
Government & High Quality Bond Separate Account-R6   15, 16, 31
26.55 -1.12 -1.65 2.02 1.34 -3.94 -0.80 0.52 3.20 07/01/1993 0.60 0.60 N/A
N/A
Inflation-Protected Bond
BlackRock Financial Mgmt, Inc.
Inflation Protection Separate Account-R6   3, 15, 16, 27, 30
13.38 -0.04 -1.05 1.71 1.98 -1.14 2.16 1.52 1.47 12/31/2004 0.56 0.56 N/A
N/A
Preferred Stock
Spectrum
Spectrum Pref and Capital Securities Income Sep Acct- R6   3, 27, 29, 32
30.64 3.74 0.40 5.33 5.21 0.16 3.13 4.18 5.21 05/31/2002 0.86 0.86 N/A
N/A
Multistrategy
Multiple Sub-Advisors
Global Multi-Strategy Separate Account-R6   3, 11, 25, 27, 30
14.57 5.34 1.98 3.94 7.96 4.14 4.68 3.26 3.54 09/30/2013 1.81 1.91 12/30/2024
N/A
Owned Real Estate
Principal Real Estate Inv
U.S. Property Separate Account-R6   24, 29, 39
1375.93 -2.08 -0.88 -2.79 -10.98 3.58 3.32 6.66 6.44 01/01/1982 1.20 1.20 N/A
N/A
DC PCRP Guaranteed Interest Rates***
 2-Year Maturity  3-Year Maturity  4-Year Maturity  5-Year Maturity  6-Year Maturity  7-Year Maturity
4.60% 4.70% 4.60% 4.50% 4.45% 4.45%

These performance results are for the Z Defined Contribution PCRP contract Separate Accounts. Results for your contract may differ. For information specific to your contract, Login to access your products and services.

Investment results shown represent historical performance and do not guarantee future results. Investment returns and principal values fluctuate with changes in interest rates and other market conditions so the value, when redeemed may be worth more or less than original costs. Current performance may be lower or higher than the performance data shown.

In situations where the net and gross expense figures are different, the investment manager has contractually agreed to limit the investment option's expense. Differences may also be shown due to the investment manager choosing to pay certain expenses that would normally be payable by the investment option. The gross total investment expense figure does not reflect any waivers or caps on the mutual fund or underlying mutual fund in which a Separate Account invests. Returns displayed are always based on net total investment expense.

Not FDIC Insured
May Lose Value - Not a Deposit - No Bank Guarantee
Not Insured by any Federal Government Agency

* Unannualized rate of return (change in value) since the start of the year.

*** Guaranteed rates for new deposits are subject to change daily. The rate displayed illustrates today’s rate through the close of business.

A The YTD value is as of 02/29/2024.

Returns shown for periods of less than one year are not annualized.

Separate Accounts are available through a group annuity contract with Principal Life Insurance Co. Insurance products and plan administrative services, if applicable, are provided by Principal Life Insurance Company, a member of the Principal Financial Group, Des Moines, IA 50392. See the fact sheet for the full name of the Separate Account. Certain investment options may not be available in all states or U.S. commonwealths. Principal Life Insurance Company reserves the right to defer payments or transfers from Principal Life Separate Accounts as described in the group annuity contracts providing access to the Separate Accounts or as required by applicable law. Such deferment will be based on factors that may include situations such as: unstable or disorderly financial markets; investment conditions which do not allow for orderly investment transactions; or investment, liquidity, and other risks (such as those associated with general and local economic conditions). If you elect to allocate funds to a Separate Account, you may not be able to immediately withdraw them.

Before directing retirement funds to a separate account, investors should carefully consider the investment objectives, risks, charges and expenses of the separate account as well as their individual risk tolerance, time horizon and goals. For additional information contact us at 800-547-7754 or by visiting principal.com.

The 7-Day Yield % more closely reflects the current earnings of this money market investment option than the total return displayed.

Investment Types
Short-Term Fixed Income - This asset class is generally comprised of short-term, fixed-income investment options that are largely liquid and are designed to not lose much value. These investment options may include stable value, money market, short-term bond, and guaranteed interest accounts. They are considered to be among the least risky forms of investment options. However, they typically have a lower rate of return than equities or longer-term fixed income investment options over long periods of time. Depending on the objectives of the investment options, they may experience price fluctuations and may lose value.
Fixed Income - This asset class is generally comprised of investment options that invest in bonds, or debt of a company or government entity (including U.S. and Non- U.S.). It may also include real estate investment options that directly own property. These investment options typically carry more risk than short-term fixed income investment options (including, for real estate investment options, liquidity risk), but less overall risk than equities. All investment options in this category have the potential to lose value.
Balanced/Asset Allocation - This asset class is generally comprised of a combination of fixed income and equity investment options. These investment options may include balanced, asset allocation, target-date, and target-risk investment options. Although typically lower risk than investment options that invest solely in equities, all investment options in this category have the potential to lose value.
Large U.S. Equity - This asset class is generally comprised of investment options that invest in stocks, or shares of ownership in large, well-established, U.S. companies. These investment options typically carry more risk than fixed income investment options but have the potential for higher returns over longer time periods. They may be an appropriate choice for long-term investors who are seeking the potential for growth. All investment options in this category have the potential to lose value.
Small/Mid US Equity - This asset class is generally comprised of investment options that invest in stocks, or shares of ownership in small to medium-sized U.S. companies. These investment options typically carry more risk than larger U.S. equity investment options but have the potential for higher returns. They may be an appropriate choice for long-term investors who are seeking the potential for growth. All investment options in this category have the potential to lose value.
Global/International Equity - This asset class is comprised of investment options that invest in stocks, or shares of ownership in companies with their principal place of business or office outside the United States. These investment options often carry more risk than U.S. equity investment options but may have the potential for higher returns. They may be an appropriate choice for long-term investors who are seeking the potential for growth. All investment options in this category have the potential to lose value.

Footnotes:

  1. Small-cap and mid-cap investment options are subject to more fluctuation in value and may have additional risks than other investment options with stocks of larger, more stable companies.
  2. Each index based investment option is invested in the stocks or bonds of the index it tracks. Performance of indexes reflects the unmanaged results for the market segment the selected stocks or bonds represent. There is no assurance an index based investment option will match the performance of the index tracked.
  3. This Separate Account invests solely in the least expensive share class of the Principal Funds. All voting rights associated with ownership of shares in the mutual fund are the rights of the Separate Account, not of contract holders investing in the Separate Account. For further information on the underlying mutual fund, see the prospectus of the fund.
  4. International and global investment options are subject to additional risk due to fluctuating exchange rates, foreign accounting and financial policies, and other economic and political environments.
  5. High yield investment options are subject to greater credit risk and volatility that is associated with high yield bonds.
  6. Liquid asset investment options are not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC), or any other government agency. Although the investment option may seek to preserve the value of an investment, it is possible to lose money by investing in the portfolio.
  7. Real Estate investment options are subject to investment and liquidity risk and other risks inherent in real estate such as those associated with general and local economic conditions. Property values can decline due to environmental and other reasons. In addition, fluctuation in interest rates can negatively impact the performance of real estate investment options.
  8. S&P 500 is a trademark of S&P Global and is used under license. The product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of investing in the product.
  9. S&P 600 is a trademark of S&P Global and is used under license. The product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of investing in the product.
  10. S&P 400 is a trademark of S&P Global and is used under license. The product is not sponsored, endorsed, sold or promoted by Standard & Poor's and Standard & Poor's makes no representation regarding the advisability of investing in the product.
  11. These calculated returns reflect the historical performance of the oldest share class of the fund, adjusted to reflect a portion of the fees and expenses of this share class. For time periods prior to inception date of the fund, predecessor performance is reflected. Please see the fund's prospectus for more information on specific expenses, and the fund's most recent shareholder report for actual date of first sale. Expenses are deducted from income earned by the fund. As a result, dividends and investment results will differ for each share class.
  12. Equity investment options involve greater risk, including heightened volatility, than fixed-income investment options. Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise.
  13. Asset allocation does not guarantee a profit or protect against a loss. Investing in real estate, small-cap, international, and high-yield investment options involves additional risks.
  14. Small-cap and mid-cap stocks may have additional risks, including greater price volatility.
  15. Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Neither the principal of bond investment options nor their yields are guaranteed by the U.S. government.
  16. Fixed-income and asset allocation investment options that invest in mortgage securities are subject to increased risk due to real estate exposure.
  17. Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Lower-rated securities are subject to additional credit and default risks. Risks associated with preferred securities differ from risks inherent with other investments. In particular, in the event of bankruptcy, a company's preferred securities are senior to common stock but subordinated to all other types of corporate debt. International investing involves increased risks due to currency fluctuations, political or social instability, and differences in accounting standards, these risks are magnified in emerging markets. REIT securities are subject to risk factors associated with the real estate industry and tax factors of REIT registration.
  18. This Separate Account invests solely in the least expensive share class of a mutual fund (Fund) from Principal Funds, Inc. Principal Global Investors, LLC invests up to 30% of the Fund's assets in equity securities in an attempt to match the performance of the Fund's benchmark index. The Fund's remaining assets are managed by the sub-advisors.
  19. Asset allocation and diversification do not ensure a profit or protect against a loss. Additionally there is no guarantee this investment option will provide adequate income at or through retirement.
  20. Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Neither the principal of bond investment options nor their yields are guaranteed by the U.S. or any other government entity. Concentrating investments in natural resources industries can be affected significantly by events relating to those industries, such as variations in the commodities markets, weather, disease, embargoes, international, political and economic developments, the success of exploration projects, tax and other government regulations and other factors. Investment in derivatives entails specific risks relating to liquidity, leverage and credit that may reduce returns and/or increase volatility. REIT securities are subject to risk factors associated with the real estate industry and tax factors of REIT registration.
  21. The Investment Advisor will display "Multiple Sub-Advisors" for certain target-date, target-risk and specialty investment options where the assets are directed by the Investment Manager to multiple underlying investment options. These underlying investment options may use multiple sub-advisors who are responsible for the day-to-day management responsibilities.
  22. The International Equity Index investment option described herein is indexed to an MSCI index.
  23. The Statement of Additional Information for the underlying mutual fund contains a more detailed description of the limited relationship MSCI has with Principal and any related investments.
  24. If you elect to contribute funds into the Principal US Property Separate Account (Separate Account), you may not be able to immediately withdraw them. This Separate Account is unlike most other retirement plan investment options because it is primarily made up of interests in private equity commercial real estate rather than traditional securities. Unlike public securities sold on an exchange, commercial real estate assets are usually sold in time-consuming, and often complex, transactions. Due to the nature of these transactions, this Separate Account may be subject to market conditions which may delay or prevent a sale. We may implement a pre-existing contractual limitation in the group annuity contract which will allow us to manage this Separate Account and satisfy withdrawal requests proportionately over time and fairly among all those who request a withdrawal.
  25. This fund utilizes alternative investment strategies such as arbitrage, leverage, derivatives, and shorting securities in addition to traditional investments. Investment risk may be magnified with the use of these alternative strategies. In addition, securities such as bonds, equities, commodities, international and emerging market securities, and currencies are used to implement the investment strategy. These investments are subject to risks associated with market and interest rate movements. The fund is considered non-diversified which may make it more susceptible to price volatility if the fund does not meet its objective. Due to the nature of the investment process, investors should not expect significant outperformance during market rallies. Additional risks are included in the funds prospectus. It is possible to lose money when investing in the fund.
  26. The net return experienced may be negative if the costs to maintain and operate the Liquid Assets Separate Account exceed returns. Participants may also see negative returns if plan expenses, if applicable, are netted or deducted from their accounts.
  27. The risks associated with derivative investments include that the underlying security, interest rate, market index, or other financial asset will not move in the direction the Investment Adviser and/or Sub-Advisor anticipated, the possibility that there may be no liquid secondary market, the risk that adverse price movements in an instrument can result in a loss substantially greater than a fund's initial investment, the possibility that the counterparty may fail to perform its obligations; and the inability to close out certain hedged positions to avoid adverse tax consequences.
  28. International and global investing involves greater risks such as currency fluctuations, political/social instability and differing accounting standards.
  29. Investment manager/sub-advisor means either the Investment Advisor or Sub-Advisor to the investment option or the underlying asset(s). Principal Life Insurance Company is the Investment Manager as defined by ERISA, with regard to the assets of the Separate Accounts. Principal Global Investors is a member of the Principal Financial Group.
  30. Investment manager/sub-advisor means either the Investment Advisor or Sub-Advisor to the investment option or the underlying asset(s).
  31. Investment manager/sub-advisor means either the Investment Advisor or Sub-Advisor to the investment option or the underlying asset(s). Principal Life Insurance Company is the Investment Manager as defined by ERISA, with regard to the assets of the Separate Accounts. Principal Global Investors is a member of the Principal Financial Group.
  32. Fixed-income investment options are subject to interest rate risk, and their value will decline as interest rates rise. Risks of preferred securities differ from risks inherent in other investments. In particular, in a bankruptcy preferred securities are senior to common stock but subordinate to other corporate debt. Contingent capital securities (CoCos) may have substantially greater risk than other securities in times of financial stress. An issuer or regulators decision to write down, write off or convert a CoCo may result in complete loss on an investment.
  33. Holdings include an allocation to the Principal Healthcare Innovators Index ETF which is maintained by an affiliate of Principal Life. To eliminate any potential for cost duplication to the separate account, the full expense of the ETF is offset by the sub-advisor.
  34. This Separate Account invests solely in the Principal LifeTime 2065 Inst Fund. Performance results and investment expenses shown prior to December 29, 2017 are of the mutual fund only, adjusted for the fees and expenses of the rate level displayed, because the Separate Account was not available. Any voting rights associated with ownership of shares in the mutual fund are the rights of the Separate Account, not of contract holders investing in the Separate Account. For further information on the underlying mutual fund, see the prospectus of the fund.
  35. For the NE Rate level, Principal Life Insurance Company (Principal Life) 1. pays the Sub-Adviser the management fee and compensation for services provided to the separate account, and 2. pays the separate account the expected operating expenses proportionally attributable to the NE Rate level in the maintenance of the Separate Account. Operating expenses may be greater or less than expected in any given period. The NE Rate level is only available to Contract holders who meet certain requirements and select certain additional products and services made available by Principal Life or an affiliate. Ask your Principal representative for additional details.
  36. Additional target date portfolios may be added to the Principal LifeTime portfolios series to accommodate plan participants with later normal retirement dates as they enter the workforce. Participants may also choose a portfolio with a target date that does not match the intended retirement date. Compare the different portfolios to see how the mix of investments might shift.
  37. This Separate Account invests solely in the least expensive share class of the applicable Principal Fund(s). Performance results and investment expenses shown prior to the inception date are of the oldest share class of mutual fund only, adjusted for the fees and expenses of the rate level displayed, because the Separate Account was not available. Any voting rights associated with ownership of shares in the mutual fund are the rights of the Separate Account, not of contract holders investing in the Separate Account. For further information on the underlying mutual fund, see the prospectus of the fund.
  38. This Separate Account invests directly in the Institutional class shares of a Principal Strategic Asset Management Portfolio (SAM). Performance results shown prior to January 16, 2007, are of the mutual fund (Institutional class performance adjusted based on the historical performance of the A class shares of the Fund where Institutional class shares is not available) only adjusted for the fees of the Separate Accounts since the Separate Account was not available. The underlying SAM Portfolio indirectly bears its pro rata share of the management fees incurred by the underlying Principal Fund in which this portfolio invests. Based on the asset allocation of the Principal Strategic Asset Management Portfolio outlined in the prospectus dated March 1, 2020, the weighted average operating expenses of the underlying funds are: Flexible Income, 0.51%; Conservative Balanced, 0.60%; Balanced, 0.64%; Conservative Growth, 0.60%; Strategic Growth, 0.59%. While the operating expenses of the underlying mutual funds are not part of the SAM Portfolio operating expenses they are included in the Total Investment Expense. Performance results shown for the SAM Portfolio reflect the application of these expenses. For further information on all mutual fund expenses, see the prospectus of the underlying SAM Portfolio. All voting rights associated with ownership of shares in the mutual fund are the rights of the Separate Account, not of contract holders investing in the Separate Account.
  39. The Principal U.S. Property Separate Account invests primarily in the Principal U.S. Property Portfolio, an operating partnership. All rights associated with the partnership are the rights of the Separate Account, not of contract holders investing in the Separate Account. Generally more than five percent (5%) of the Net Asset Value will be in directly held assets consistent with the investment objective and strategy.
  40. This investment option is considered non-diversified, which means it, or the underlying mutual fund, can invest a higher percentage of its assets in of fewer individual issuers than a diversified investment. As a result, changes in the value of a single investment could cause greater fluctuations, gain or loss, in the net asset value than would occur if it was more diversified.
  41. Selecting a target date fund series is also authorizing any additional vintage which is launched by the investment provider for the series, and included in their associated materials, to be added to the plan after proper notification.
  42. There is no guarantee that a target date investment will provide adequate income at or through retirement. A target date fund's (TDF) glidepath is typically set to align with a retirement age of 65, which maybe your plan's normal retirement date (NRD). If your plan's NRD/age is different, the plan may default you to a TDF based on the plans NRD/Age. Participants may choose a TDF that does not match the plan's intended retirement date but instead aligns more to their investment risk. Compare the different TDF's to see how the mix of investments shift based on the TDF glide path.
  43. The Principal Stable Value Fund (the Fund), is a collective investment trust maintained by Principal Global Investors Trust Company, (the Trust Company). Morley Capital Management (Morley), a specialized investment boutique of Principal Global Investors, LLC (the Adviser), serves as investment manager with respect to the Fund, subject to the Trust Companys supervision and review. The Adviser is an indirect wholly owned subsidiary of Principal Financial Group and is under common control with the Trust Company. The Fund is not a mutual fund and is not registered with the Securities and Exchange Commission, the State of Oregon, or any other regulatory body. Units of the Fund are not deposits or obligations of, guaranteed by, or insured by the Trust Company or any affiliate, and are not insured by the FDIC or any other federal or state government agency. The value of the Fund may fluctuate so that when redeemed, units may be worth more or less than the original cost. The declaration of trust, participation agreement, and disclosure documents contain important information about investment objectives, risks, fees and expenses associated with investment in the Fund and should be read carefully before investing. Direct investment in the Fund is limited to participating trusts (also known as investing plan/trust) that meet certain requirements described in the declaration of trust, that enter into a participation agreement with the Trust Company. The Fund cannot accept investment directly from individuals and is subject to restrictions regarding transfer and withdrawal of assets including potential deferral of withdrawal requests by up to 12 months, as defined in the applicable declaration of trust.