Principal® Broadens Retirement Income Offering with New Options

About this update from Principal Financial Group Inc

DES MOINES, Iowa, June 30, 2026--(BUSINESS WIRE)--Principal Financial Group® is expanding its Principal® income suite with additional offerings designed to help Americans turn retirement savings into dependable income. The new savings vehicles with the ability to generate lifetime income can be available within an employer's defined contribution investment lineup and will include the Principal® LifeTime Income Builder Index collective investment trusts (CITs) target date funds (TDFs). The expansion comes as today's workforce navigates a more complex retirement reality. Fewer workers have access to traditional pensions; people are living longer, and market uncertainty can make it challenging to convert savings into steady income. In response, plan sponsors and their financial professionals are looking for ways to help employees build assets and confidently access them in retirement. With the additions to the Principal income suite, Principal is curating a broader selection of proprietary and third-party Qualified Default Investment Alternative (QDIA)-eligible products which plan sponsors can choose to use when helping plan participants flow from saving for retirement to receiving dependable income in retirement. "Our plan sponsor clients are looking for ways to make retirement simpler and more predictable for their employees," said Chris Littlefield, president of Retirement and Income Solutions at Principal. "By increasing options within the Principal income suite, we are delivering a more integrated approach to retirement to support participants as they move from accumulation to income, without adding complexity. There has been strong demand for retirement income solutions, and we are focused on evolving our product offerings to meet this need." Proprietary and Third-Party Retirement Income Options Retirement income products available through the Principal income suite will soon include Principal LifeTime Income Builder Index, a QDIA-eligible option with a growth-oriented, passively invested TDF portfolio that begins allocating to a fixed indexed annuity about age 47. With minimal participant decisions required, the TDF automatically transitions to distributing 6% income at around age 65.* Principal is also adding third-party retirement income TDF series through new strategic partnerships with TIAA/Nuveen, the LifeCycle Income Index (The trustee for the N...

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