As a complement to our Defined Contribution Survey—which measures how satisfied DC clients are with their providers—our annual Recordkeeping Survey gives employers the chance to see exactly which products and services each provider offers, as well as listing information on total assets and overall client demographics. This survey, as opposed to the DC survey, is comprised of data collected from the providers themselves.
|$5MM – $25MM||127,942 ||579 |
|>$25MM – $100MM||219,662 ||293 |
|>$100MM – $500MM||477,575 ||128 |
|Plans by Channel |
|Direct sold ||0%|
|Adviser sold ||82%|
|Plans by Type |
|Service Offerings |
|New client restrictions||No 403(b) or 457 plans; no privately held company stock or public fund entities; minimum of 100 participants and $5 million in plan assets; |
|Multiple service models||Yes|
|Offers corporate trustee services||Yes|
|Internal ERISA counsel||8|
|Plan Administration |
|360-degree payroll integration||Available to all clients|
|Supports alternate IDs||Yes|
|Supports fee equalization||Available to some clients|
|Will act as §3(16) fiduciary||No|
|Participant Services |
|Call center hours||Weekdays: 8 a.m. - 7 p.m. ET|
|Online chat support||Yes|
|Outside account aggregation||Yes|
|Advice Offerings |
|Managed account options||Proprietary offering|
|Offers financial wellness program(s)||Yes|
|Retirement Income |
|Income estimate on statements||Yes|
|In-plan retirement income products||Yes|
|Out-of-plan annuity bidding service||No|
|Data has been revised since initial print publication in PLANSPONSOR magazine and reflects updates/revisions to the original data set.|
Provider Listing Key:- New-client requirements vary and may include plan-size minimums or restrictions on the types of plans that will be accepted. Please contact providers for details.
- ERISA (Employee Retirement Income Security Act) counsel equals the number of full-time equivalent legal staff available to opine on ERISA issues when needed. Additional fees may apply.
- Fee equalization reflects whether the recordkeeper may credit participants for revenue sharing paid by their investments that exceeds their share of the recordkeeping fee.
- Providers supporting 360-degree payroll integration accommodate direct, two-way communication of data with payroll vendors to simplify some aspects of plan administration. It may be available to "all clients" or "some clients," if certain conditions are met.
- In-plan retirement income products include guaranteed investment options specifically designed to produce a predictable level of income throughout retirement with no need to reinvest or withdraw assets from the plan.
- NR = not reported in time for publication; NA = not applicable to the provider.