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.

TIAA

www.tiaa.org/
Assets ($MM) by Plan Type
Ranked #2$605,866
401(k)$6,659
403(b)$406,773
457 $8,205
NQDC$757
All Other$183,472
Participants by Plan Size
Ranked #36,328,347
<$5MM561,805
$5MM – $25MM982,728
>$25MM – $100MM1,057,293
>$100MM – $500MM1,514,117
>$500MM2,212,404
Plans by Channel
Ranked #1624,326
Direct sold
Intermediary sold
Not reported
Not reported
Service Offerings
New client restrictionsNot-for-profit plans only; no company stock; minimum of $10 million in plan assets
Multiple service modelsYes
Offers corporate trustee servicesYes - direct offering
# of internal ERISA counsel8
Will act as §3(16) fiduciaryNo
Participant Services
Call center hoursWeekdays: 8 a.m. - 10 p.m. ET
Saturday: 9 a.m. - 6 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 productsYes
Offers out-of-plan annuity bidding serviceNo
Recordkeeping PlatformFIS Omni; FIS Relius