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.

American Funds

www.americanfunds.com
Assets ($MM) by Plan Type
Ranked #20$67,885
401(k)$65,488
403(b)$1,380
457 $0
NQDC$19
All Other$998
Participants by Plan Size
Ranked #231,230,822
<$5MM877,068
$5MM – $25MM240,354
>$25MM – $100MM54,605
>$100MM – $500MM23,293
>$500MM35,502
Plans by Channel
Ranked #257,809
Direct sold
Intermediary sold
0%
100%
Service Offerings
New client restrictionsNo company stock; no 457, Davis-Bacon, ESOP/KSOP/Stock Bonus, governmental 414(h), SIMPLE 401k, or Taft-Hartley plans; no Defined Benefit or Cash Blance plans; no Rollovers as Business Start-Ups (ROBS) plans
Multiple service modelsYes
Offers corporate trustee servicesYes - direct offering
# of internal ERISA counsel1
Will act as §3(16) fiduciaryNo
Participant Services
Call center hoursWeekdays: 8 a.m. - 10 p.m. ET
Saturday: 9 a.m. - 5:30 p.m. ET
Online chat supportNo
Mobile appYes
Managed account optionsNone
Retirement Income
Displays retirement income estimate on statementsYes
Offers in-plan guaranteed retirement income productsNo
Offers out-of-plan annuity bidding serviceNo
Recordkeeping PlatformDST Systems TRAC; Empower Institutional