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Youu have the right to direct the investment of retirement plan contributions among the investment options offered under the
retirement plan. Properly investing retirement contributions is important for planning your future retirement income. You
should consider your investment direction decision carefully. This notice provides information regarding where contributions
submitted to the retirement plan for your benefit will be directed in the absence of your investment election. You may direct
the investment of the retirement funds by visiting
Automatic Enrollment
This retirement plan includes an automatic contribution arrangement that applies to new participants or re-hired participants
as they enter the plan. If you are a new participant, you will be automatically enrolled in the retirement plan, meaning
$50.00 of your pay will be deducted from paychecks and contributed to the retirement plan on your behalf unless you elect a
different salary deferral percentage. If you are currently eligible for the plan, you will maintain your current salary deferral
amount unless you elect a different salary deferral percentage.
If you do not wish to be automatically enrolled, you may elect not to defer or to defer another percentage. If you affirmatively
elect to make salary deferral contributions, or if you are automatically enrolled, and you do not provide an investment
direction as to how contributions made on your behalf should be directed, then the contributions will be directed to the plan's
investment option default discussed below.
Investment Option Default
If you have not provided complete, up-to-date direction as to how the account set up for you under the retirement plan is to
be invested, the account will be invested under automatic rules. You need to understand these rules and make sure that you
are comfortable with them or that you take action to direct the investment of the account according to your preferences.
These rules state that, if we do not have complete investment directions from you, the retirement funds in the account and
new contributions for which we do not have direction will be directed to the applicable Principal Trust
SM Target Date Fund
(Principal Management Corporation provides nondiscretionary advisory services to Principal Trust regarding these funds)
based on your current age and the definition of normal retirement date under the plan. Your directions must be received at
the Corporate Center of Principal Life Insurance Company.
See the table below to identify the Principal Trust Target Date Fund that will apply based on your current age and when you
will reach the plan's normal retirement date. For information on how you may make an investment direction election, please
see the "Right to Direct" section below.
