2019 Recordkeeping Survey

Breaking down the DC industry by plan type.

Providers

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ADP Retirement Services

www.adp.com/401k
PROFILE2018RANK
Assets ($MM)$76,128 19
Plans48,788*4
Participants3,040,31512
Participants by Plan Size
<$5MM1,989,528
$5MM – $25MM606,363
>$25MM – $100MM192,792
>$100MM – $500MM71,662
>$500MM179,970
Plans by Channel
Direct sold 30%
Intermediary sold 70%
Assets ($MM) by Plan Type
401(k)$68,347
403(b)$151
457 $8
NQDC$7,588
All Other$34
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.
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Recordkeeping Survey Archive

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.