2018
Plan Administration Guide, Part Two: Recordkeeping Survey

Breaking down the DC industry by plan type.

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.

Bank of America Merrill Lynch

www.benefitplans.baml.com
Assets ($MM) by Plan Type
Ranked #7$220,504
401(k)$164,336
403(b)$0
457 $0
NQDC$10,682
All Other$45,486
Participants by Plan Size
Ranked #103,070,747
<$10MM33,605
$10MM – $50MM162,628
>$50MM – $200MM315,757
>$200MM – $1BMM489,537
>$1B2,069,220
Plans by Channel
Direct sold
Intermediary sold
18%
82%
Service Offerings
New client restrictionsNo 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 modelsYes
Offers corporate trustee servicesYes
Internal ERISA counsel6
Will act as §3(16) fiduciaryNo
Participant Services
Call center hoursWeekdays: 8 a.m. - 7 p.m. ET
Online chat supportYes
Mobile appYes
Managed account optionsProprietary offering
Retirement Income
Displays retirement income estimate on statementsYes
Offers in-plan guaranteed retirement income productsNo
Offers out-of-plan annuity bidding serviceNo
Recordkeeping Platform Proprietary system
*Data has been updated/revised since initial publication in PLANSPONSOR magazine.