HR and Benefits
Retirement Plan Update: Principal Financial Group Acquires Wells Fargo Institutional Retirement & TrustPublished: May 5, 2021
Principal Financial Group acquired the Wells Fargo Institutional Retirement & Trust business on July 1, 2019. The following Methodist Health System sponsored retirement plans will move to the Principal platform in second quarter 2021:
- MHS 403(b)
- SSS 401(k)
- MHS 457(b)
- MHS CAA
The transition work is well underway, and plan participants will receive more detailed information soon regarding key dates and how they may impact your account. Until then, it's business as usual. Both Principal and Wells Fargo Institutional Retirement & Trust are committed to making this transition seamless and simple for you with a strong focus on uninterrupted service while delivering the best of the combined firms. You should expect to receive the same level of service you have always received.
Continue to access your account online at wellsfargo.com, through the Wells Fargo mobile app or via the Retirement Service Center at 1-800-728-3123. A faster way to stay informed about your financial future is through retirement plan emails. Sign on to your account at wellsfargo.com using a computer. After selecting the retirement plan name on the "Account Summary" page, choose the "My Settings" link at the top of the page, then "Delivery Preferences."
Questions? Please call the Wells Fargo Retirement Service Center at 1-800-728-3123.