Principal Financial Group

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.

Worst customer service I’ve ever encountered In my entire life. For 4 months I’ve been trying to get my money. Every-time I’m told to just be patient and wait but no real answers. Then 2 months later I am told that a check of over $15,000 was went to a wrong address, 2 months to get that information. Now recently I was told it would be 3 business days to put it in my account and now I’m being told 7 business days later to wait 4 more business days and call back to find out if its done?! How do I get MY money? Everyone I talk to tells me a different story but no one ever tells me when I’ll get MY money. I’ve spent over 25 hours on the phone trying to get this done with you over the last 4 months!

DO NOT USE THIS COMPANY!
I wish I could give this company zero stars. My former employer chose this company to hold the 401k accounts. I no longer work there and want to remove my funds and now Principal bank can’t find them. It was to be a 401k transfer to an IRA account done in April and it’s magically gone. It’s been almost a month and no answers. I’m repeatedly told to call back every single time I call. No one takes accountability or ownership for this massive screw up. I’m finding I’m not the only one this has happened to. I will be filing a CFPB, BBB and any other financial abuse complaint I can. How is this even possible that a company in this day and age has zero accountability and zero care to resolve and find my money. They claim the higher ups and resolution team in the company don’t take inbound calls, but then they don’t call you either.
I just want my funds without their exorbitant fees being charged, and to never ever do business with this company ever again. This is the most insane fraudulent thing that I’ve ever seen.

Absolutely the worse. Rude employees and supervisor. They don’t give the correct information and have mayor attitude don’t put your money with them!

The fees far out weight the earnings, massive amounts bureaucracy make everything really difficult -especially rolling funds over and out. Their customer service agents are powerless to help you.