Starting an employee 401(k) plan could be free with tax credits.

Simply Retirement by Principal® is designed for small businesses with fewer than 100 employees and can make adding a plan easier, with less time, cost, and complexity.

Your plan could be free for the first three years with tax credits.

SECURE 2.0 Act of 2022 tax credits are available to eligible small businesses that start a new workplace retirement plan.1
  • Offset up to 100% of your plan startup costs
  • Receive up to $5,000 per year in tax credits for the first three years of your plan

Have your plan up and running before you know it.

100% online
Set up your plan when it’s convenient for you. You can call if you have questions.

Simple onboarding
Enroll employees on the Ubiquity Retirement + Savings® platform
Simple administration
Save time with features like automatic notifications and payroll integration.

Save costs with predictable, no-guess pricing.

No surprises and no changes to pricing as your employees contribute.



One-time setup fee for bundled plans

Every month2

As low as $145 + $6 for every participant

Recordkeeping fee

Costs can be as low as $0 after tax credits.1

When it comes to attracting and retaining talent, benefits matter.

  • 82% of workers agree that retirement benefits are a major factor in their final decision-making when job hunting.3
  • 81% of employers believe offering a 401(k) or similar plan is important for attracting and retaining employees.3

Ready to explore a 401(k) plan for your business?

Go to our plan builder and answer a few questions to see if our solution fits your needs. If it does, create a plan proposal and share it with your team. When ready, you can complete your plan purchase online, log in, and enroll employees to start saving.
Learn more about retirement plans and recent legislation.
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1 Start-up tax credit modification: Small employers with 50 or fewer employees may apply 100% of qualified start-up costs toward the tax credit formula (up to $5,000 per year). New tax credit for start-up plans offering employer contributions: A tax credit equal to the applicable percentage of employer contributions, capped at a maximum of $1,000 per employee.

  • Applicable to small employers with 50 or fewer employees.
  • For employees with 51–100 employees: The credit is phased out by reducing the amount of credit each year 2% for each employee in excess of 50.

Applicable Percentage: 1st and 2nd year = 100%, 3rd year = 75%, 4th year = 50%, 5th year = 25%, 6th year = 0%
No contributions may be counted for employees with wages in excess of $100,000 (inflation adjusted). If taking advantage of this tax credit, employer contributions may not also be counted toward “start-up costs” in the start-up tax credit calculation.

2 Recordkeeping fee will be billed to business owners quarterly ($435 plus per-participant fees). Pricing shown applies when working with a third party administrator (TPA). With bundled pricing, the recordkeeping fee is $185 per month ($555 billed quarterly) plus per-participant fees. Custodial fees, investment fees, and financial professional and TPA fees (if applicable) are additional.

3Transamerica 23rd Annual Retirement Survey

Simply Retirement by Principal® 401(k) plan recordkeeping, and administrative services are provided through Decimal, Inc. dba Ubiquity Retirement + Savings (“Ubiquity”). Ubiquity is not affiliated with any plan and investment administrative services provided through Principal Life Insurance Company® or affiliated with any company of the Principal Financial Group®. Principal makes available the Separate Accounts and collective investment trusts for customers to select them through Simply Retirement by Principal. All other services and mutual funds are provided by service providers not affiliated with any company of the Principal Financial Group. Refer to related documents and agreements for more details on plan services available.

Mutual fund, separate account and collective investment trust trade instructions are processed by Matrix Settlement & Clearance Services, LLC through the NSCC Membership of its affiliate, Matrix Trust Company.

Simply Retirement by Principal® requires a client service agreement between Ubiquity and the plan sponsor (Customer). In addition to and as part of the services, each Customer will sign separate agreements with the following parties: (i) custodian (ii) 3(38) investment manager, and (iii) Principal Life Insurance Company, a Comprehensive Retirement Program (PCRP) offered through the Modular Group Annuity Contract for separate accounts, and a declaration of trust for Principal collective investment funds. Simply Retirement by Principal services, costs and resources are subject to change.


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This information is educational only and provided with the understanding that Principal® is not rendering consulting, legal, accounting, investment or tax advice. You should consult with appropriate individuals including counsel, financial professional or other advisors on all matters pertaining to business, legal, tax, investment or accounting obligations and requirements.


Insurance products and plan administrative services provided through Principal Life Insurance Company®, a member of the Principal Financial Group®, Des Moines, IA 50392.

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