2019
Recordkeeping Survey

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

Industry Snapshot

Recordkeeping Industry Snapshot

The 2019 PLANSPONSOR Recordkeeping Survey is compiled from self-reported data submitted by recordkeepers of 401(k), 403(b), 457, nonqualified deferred compensation (NQDC) and other defined contribution (DC) plans. This year’s survey differs from past iterations in that it excludes SEP [Simplified Employee Pension] and SIMPLE IRA [Savings Incentive Match Plan for Employees individual retirement account] plans, a change that had a material impact on a handful of providers and that merits consideration when looking for trends in the data. These two markets will be covered in a future issue.

The pages that follow summarize survey results by market and provider. Provider profiles are presented alphabetically and reflect each company’s experience in servicing different types of plans. Aggregate rankings for assets, plans and participants are noted in each profile; other rankings reflect only those organizations that reported the associated data. All data reported here, including for past years, are as of December 31 of the year prior to the survey date. Readers are encouraged to follow up with providers directly for further detail on the scope and availability of service offerings. Additional information is available online at www.plansponsor.com/research. For information on licensing the supporting data or to learn how to participate in our 2020 Recordkeeping Survey, please email surveys@strategic-i.com. —Brian O’Keefe

Total Defined Contribution Plan Assets ($mm)

2010
$3,639,933
2011
$4,126,181
2012
$4,182,461
2013
$4,575,706
2014
$5,569,828
2015
$5,978,664
2016
$5,961,980
2017
$6,462,919
2018
$7,467,595
2019
$7,152,527

Total Assets, Plans, and Participants

Total defined
contribution assets
$7,152,527
Total defined
contribution plans
805,595
Total defined
contribution participants
108,918,268
By Plan Size Assets ($mm)* Total* Participants*
<$5mm $577,269 706,082 18,983,717
$5mm – $25mm $694,121 74,794 15,964,920
>$25mm – $100mm $728,976 16,310 13,529,950
>$100mm – $500mm $1,196,057 5,812 19,827,684
>$500mm $3,951,782 1,852 40,611,997
† Not all providers report complete data; therefore, data segmented by plan size will not equal the corresponding overall total.

Share of Total Defined Contribution Market

Recordkeepers in the Top 5

Assets
57%
Plans
12%
Participants
45%

Recordkeepers in the Top 10

Assets
73%
Plans
28%
Participants
66%

Recordkeepers in the Top 20

Assets
91%
Plans
56%
Participants
84%