Through PLANSPONSOR’s annual Defined Contribution Survey, 13 providers received the highest marks when defined contribution plan sponsors of all size plans nationwide answered the following question: How satisfied are you with your provider?
After nearly 5,000 responses were received and tabulated, 13 companies accumulated the greatest number of Service “cups” in the survey’s six main asset classes ranging from “micro” plans with less than $5 million in assets to “mega” plans with more than $1 billion in assets.
They are listed below; the numbers in parentheses are the number of best-in-class (BIC) awards:
Less than $5MM
- Gold: Voya Financial (18)
- Silver – tied: Correll Co. (17)
- Silver – tied: CUNA Mutual Retirement Solutions (17)
$5MM – $25MM
- Gold: BB&T Retirement and Institutional Services (22)
- Silver – tied: CUNA Mutual Retirement Solutions (18)
- Silver – tied: Securian Financial Group (18)
- Gold – tied: Bank of America Merrill Lynch (15)
- Gold – tied: Transamerica Retirement Solutions (15)
- Silver: VALIC (14)
- Gold: Newport Group (21)
- Silver: T. Rowe Price (15)
- Bronze: VALIC (14)
- Gold: Bank of America Merrill Lynch (22)
- Silver: Milliman Inc. (18)
- Bronze – tied: Transamerica Retirement Solutions (15)
- Bronze – tied: Voya Financial (15)
- Gold: Nationwide (21)
- Silver – tied: TIAA (18)
- Silver – tied: T. Rowe Price (14)
The survey results were profiled in the November 2016 issue of PLANSPONSOR magazine and the full provider results and scores can be viewed at http://www.plansponsor.com/2016-Defined-Contribution-Survey/.
The companies will be recognized at the annual PLANSPONSOR/PLANADVISER Awards for Excellence Dinner. This networking event celebrates the accomplishments of the best of the best in the retirement plan industry. Each year, the nation’s leading retirement plan sponsors and advisers, as well as the top product, investment and service providers are honored at this exclusive gathering, hosted at the beautiful Pier 60 in the Chelsea Pier complex, overlooking the Hudson River.
“We created the Awards for Excellence dinner to recognize not only the standouts in the DC provider community, but we also honor plan sponsors, advisers and investment managers that demonstrated exceptional performance in 2016,” says Alison Cooke Mintzer, editor-in-chief of PLANSPONSOR and PLANADVISER.For more information about the dinner and list of winners, visit http://www.plansponsor.com/events/pspaawards2017/.