RESEARCH |

2018
Plan Administration Guide, Part Two: Recordkeeping Survey

Breaking down the DC industry by plan type.

Reported by PLANSPONSOR | Art by Julie Benbassat
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Introduction

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.

ADP Retirement Services

www.adp.com/401k
Assets ($MM) by Plan Type
Ranked #19$78,552
401(k)$68,787
403(b)$175
457 $7
NQDC$8,608
All Other$975
Participants by Plan Size
Ranked #181,827,884
<$10MM1,262,638
$10MM – $50MM287,040
>$50MM – $200MM77,499
>$200MM – $1BMM63,913
>$1B136,794
Plans by Channel
Direct sold
Intermediary sold
30%
70%
Service Offerings
New client restrictionsNo Taft Hartley or ESOP plans
Multiple service modelsYes
Offers corporate trustee servicesYes
Internal ERISA counsel6
Will act as §3(16) fiduciaryYes - via third party
Participant Services
Call center hoursWeekdays: 8 a.m. - 9 p.m. ET
Online chat supportNo
Mobile appYes
Managed account optionsFinancial Engines; GuidedChoice
Retirement Income
Displays retirement income estimate on statementsYes
Offers in-plan guaranteed retirement income productsNo
Offers out-of-plan annuity bidding serviceYes
Recordkeeping Platform FIS Omni / Relius