2019 Recordkeeping Survey

Breaking down the DC industry by plan type.


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Bank of America

Assets ($MM)$203,732 9
Participants by Plan Size
$5MM – $25MM144,054
>$25MM – $100MM307,845
>$100MM – $500MM709,900
Plans by Channel
Direct sold 18%
Intermediary sold 82%
Assets ($MM) by Plan Type
457 $0
All Other$46,621
Service Offerings
New client restrictionsNo 403(b) or 457 plans; no privately held company stock or public fund entities; minimum of 100 participants and $5 million in plan assets
Multiple service modelsYes
Offers corporate trustee servicesYes - direct offering
# of internal ERISA counsel4
Will act as §3(16) fiduciaryNo
Participant Services
Call center hoursWeekdays: 8 a.m. - 7 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 productsNo
Offers out-of-plan annuity bidding serviceNo
Recordkeeping PlatformProprietary system
1 7 8 9

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.