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.

Charles Schwab

corporateservices.schwab.com
Assets ($MM) by Plan Type
Ranked #14$154,120
401(k)$132,560
403(b)$35
457 $5
NQDC$3,628
All Other$17,892
Participants by Plan Size
Ranked #211,225,760
<$10MM15,183
$10MM – $50MM95,406
>$50MM – $200MM316,733
>$200MM – $1BMM602,434
>$1B196,004
Plans by Channel
Direct sold
Intermediary sold
36%
64%
Service Offerings
New client restrictionsMinimum of $10 million in plan assets; ERISA 403(b) and 457 plans with other DC business
Multiple service modelsYes
Offers corporate trustee servicesYes
Internal ERISA counsel5
Will act as §3(16) fiduciaryNo
Participant Services
Call center hoursWeekdays: 7 a.m. - 11 p.m. ET (excluding major holidays)
Online chat supportYes
Mobile appYes
Managed account optionsGuidedChoice; Morningstar/Ibbotson
Retirement Income
Displays retirement income estimate on statementsNo
Offers in-plan guaranteed retirement income productsNo
Offers out-of-plan annuity bidding serviceYes
Recordkeeping Platform Proprietary; Schwab Retirement Technologies (SRT)
*Data has been updated/revised since initial publication in PLANSPONSOR magazine.