2019
Recordkeeping Survey

Five hot-button issues plan sponsors need to cover in provider searches.

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$76,128
401(k)$68,347
403(b)$151
457 $8
NQDC$7,588
All Other$34
Participants by Plan Size
Ranked #123,040,315
<$5MM1,989,528
$5MM – $25MM606,363
>$25MM – $100MM192,792
>$100MM – $500MM71,662
>$500MM179,970
Plans by Channel
Ranked #448,788*
Direct sold
Intermediary sold
30%
70%
Service Offerings
New client restrictionsNo Taft Hartley or ESOP plans
Multiple service modelsYes
Offers corporate trustee servicesYes - either direct or via partnership
# of 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
Retirement Income
Displays retirement income estimate on statementsYes
Offers in-plan guaranteed retirement income productsNo
Offers out-of-plan annuity bidding serviceNo
Recordkeeping PlatformFIS Omni; FIS Relius
Footnote:
*In 2019, ADP’s plan count was 85,411 which includes SEP & SIMPLE IRA plans.