*Important information
Carefully consider the Fund’s objectives, risks, charges, and expenses. Contact your financial professional or visit principal.com for a prospectus, or summary prospectus if available, containing this and other information. Please read it carefully before investing.
Investing involves risk, including possible loss of principal.
Asset allocation and diversification does not ensure a profit or protect against a loss. Equity investment options involve greater risk, including heightened volatility, than fixed-income investment options. Fixed-income investments are subject to interest rate risk; as interest rates rise their value will decline. International and global investing involves greater risks such as currency fluctuations, political/social instability and differing accounting standards. These risks are magnified in emerging markets. Fixed-income and asset allocation investment options that invest in mortgage securities are subject to increased risk due to real estate exposure. The performance and risks of a fund of funds directly correspond to the performance and risks of the underlying funds in which the fund invests.
Lower-rated securities are subject to additional credit and default risks. Small and mid-cap stocks may have additional risks including greater price volatility. Each index-based investment option is invested in the stocks or bonds of the index it tracks. Performance of indexes reflects the unmanaged result for the market segment the selected stocks or bonds represents. There is no assurance an index-based investment option will match the performance of the index tracked. 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.
There is no guarantee that a target date investment will provide adequate income at or through retirement. A target date fund’s (TDF) glide path is typically set to align with a retirement age of 65, which may be 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 plan’s 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.
The Morningstar name and logo are registered marks of Morningstar, Inc. Morningstar Retirement offers research and technology driven products and services to individuals, workplace retirement plans and other industry players. Associated advisor services are provided by Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar Inc. Morningstar Retirement and Morningstar Investment Management LLC are not an affiliate of any company of the Principal Financial Group.
RetireView Terms and Conditions for a full discussion of the features of this service, including rebalancing and automatic age adjustment of the populated models. Investing involves risk, including possible loss of principal.
RetireView® is an educational service designed to help retirement plan participants determine an appropriate investment mix for their retirement account. Principal retained Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc., to create asset class-level model portfolios (“Models”) for RetireView. In no way should Morningstar Investment Management’s creation of the Models be viewed as advice or establishing any kind of advisory relationship with Morningstar Investment Management. Morningstar Investment Management does not endorse and/or recommend any specific financial product that may be used in conjunction with the Models.
Models are created by Morningstar Investment Management LLC. Morningstar Investment Management begins by analyzing asset classes and constructs long-term expected returns, standard deviations, and correlation coefficients. These form the inputs for the mean-variance optimization, a statistical technique. Because forecasting is a critical and pivotal step in the asset allocation process, Morningstar Investment Management develops proprietary capital market forecasts for each asset class using a combination of historical data, current market information and additional analysis. Each forecast becomes an input in portfolio creation.
The Models are intended to be used as an additional information source for retirement plan participants making investment allocation decisions. Pursuant to the Department of Labor’s Definition of Investment Education, such models (taken alone or in conjunction with this document) do not constitute investment advice for purposes of the Employee Retirement Income Security Act (ERISA), and there is no agreement or understanding between Morningstar Investment Management and us or any plan or plan fiduciary, or any participant who uses this service, under which the latter receives information, recommendations or advice concerning investments that are to be used for any investment decisions relating to the plan. Accordingly, neither we nor Morningstar Investment Management are a fiduciary with respect to your plan sponsor’s plan for purposes of this service, including the features of rebalancing and aging. Following an asset allocation Model does not ensure a profit or protect against a loss. Performance of the individual Models may fluctuate and will be influenced by many factors. In applying particular asset allocation Models to their individual situations, participants or beneficiaries should consider their other assets, income and investments (e.g., equity in a home, Social Security benefits, IRA investments, savings accounts and interests in other qualified and nonqualified plans) in addition to their interests in the plan.
Principal Personalized Target Date - The technology and methodologies used within Principal® Personalized Target Date, powered by Morningstar Retirement, and certain of the text, images, layout and design appearing in it and this document are the property of Morningstar Investment Management LLC and are protected by intellectual property law (including, without limitation, copyright law). Morningstar Retirement offers research- and technology-driven products and services to individuals, workplace retirement plans, and other industry players. Associated advisory services are provided by Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc.
The Morningstar name and logo are registered marks of Morningstar, Inc. Morningstar is not affiliated with any member of the Principal Financial Group®.
Principal has retained Morningstar Investment Management LLC as an investment adviser to create and manage the Principal® Personalized Target Date service. Principal® Personalized Target Date is a brand name for the personal target date fund service offered by Morningstar Investment Management LLC. It is intended for citizens or legal residents of the United States or its territories. The target date funds available for use through Principal Personalized Target Date are the Principal Funds, or another provider’s target date series and are chosen by a retirement product provider or plan sponsor, or their designee. Morningstar Investment Management LLC is responsible for creating an allocation strategy for participant retirement accounts from the chosen target date funds. Investment advice delivered by Morningstar Investment Management through this service is based on information provided and limited to the investment options available from Principal.
The portfolios available to participants of this service are created by Morningstar Retirement, a registered investment advisor, who was chosen by the participant’s employer. Morningstar Retirement and subsidiary of Morningstar, Inc., is responsible for choosing the portfolio for the participant’s retirement plan account. Investment advice delivered by Morningstar Retirement is based on information provided about the participant and limited to Principal target date funds or certain collective investment trusts available in the participant’s retirement plan.
Projections and other information regarding the likelihood of various retirement income and/or investment outcomes are hypothetical in nature, do not reflect actual results, and are not guarantees of future results. Results may vary with each use and over time.
All investments involve risk, including the loss of principal. An investment in a target date fund is not guaranteed, and participants may experience losses, including losses near, at, or after the target date. There is no guarantee that the fund will provide adequate income at and through a participant’s retirement. There can be no assurance that any financial strategy will be successful. There can be no guarantee that the results of advice, recommendations or the objectives of a strategy will be achieved.
Each participant who enrolls in or is defaulted to Principal® Personalized Target Date has a fee added to the investment expense of the target date funds or collective investment trusts for the Principal® Personalized Target Date service. In addition to this fee, assets invested through the Principal® Personalized Target Date service are also subject to plan recordkeeping fees.
When using the plan’s existing Principal target date funds or collective investment trusts, Principal does not serve in a 3(21) capacity; the plan sponsor or designated fiduciary maintains responsibility for the plan’s core investment array.
If available, participants cannot enroll in a managed account service and Principal® Personalized Target Date services at the same time.
Managed account service - The managed account and point in time advice service are provided by an SEC registered investment advisor. It is intended for citizens or legal residents of the United States or its territories. The allocations available to you through the managed account are created by a registered investment advisor, who was chosen by your plan sponsor. Allocations created within the managed account may include investment options only available through an SEC registered investment advisor managed account and are not available for participants to choose if they make their own investment decisions. As a result, these investment options may not be available to you outside of the managed account. See your Investment Option Summary or online at principal.com to see investment options that can be used with the managed account service. Investment advice delivered by an SEC registered investment advisor is based on information provided by you and your plan recordkeeper and limited to the investment options available in your retirement plan. It will remain your responsibility to verify the accuracy of the information provided by you and your recordkeeper. Projections and other information regarding the likelihood of various retirement income and/or investment outcomes are hypothetical in nature, do not reflect actual results, and are not guarantees of future results. Results may vary with each use and over time.
The SEC registered investment advisor does not guarantee that the results of their advice, recommendations, or the objectives of an investment option will be achieved. All investments involve risk, including the loss of principal. There can be no assurance that any financial strategy will be successful. The SEC registered investment advisor does not guarantee that the results of their advice, recommendations or objectives of a strategy will be achieved.
Each participant who enrolls in the managed account service is charged a fee set by an SEC registered investment advisor. In addition to this fee, assets invested through the managed account service are subject to fees and expenses charged by the underlying investment options.
Principal does not serve in a 3(21) capacity for the plan’s existing core investment option array, or specific investment options used in the managed account service. The Plan sponsor, investment advisor and/or designated plan fiduciary serves in this capacity.
Insurance products and plan administrative services provided through Principal Life Insurance Company®. Principal Funds, Inc. is distributed by Principal Funds Distributor, Inc. Securities offered through Principal Securities, Inc., member SIPC and/or independent broker-dealers. Referenced companies are members of the Principal Financial Group®, Des Moines, Iowa 50392. Certain investment options and contract riders may not be available in all states or U.S. commonwealths. Separate Accounts are available through a group annuity contract with Principal Life Insurance Company. See the group annuity contract for the full name of the Separate Account. Principal Life Insurance Company reserves the right to defer payments or transfers from Principal Life Separate Accounts as permitted by 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 inherent in real estate (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.
The subject matter in this communication is educational only and provided with the understanding that Principal® is not rendering legal, accounting, investment or tax advice. You should consult with appropriate counsel, financial professionals, and other advisors on all matters pertaining to legal, tax, investment or accounting obligations and requirements.
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 service marks of Principal Financial Services, Inc., in various countries around the world.
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PQ13439C | 5039267-122025 | 12/2025
