2019 Recordkeeping Survey

Breaking down the DC industry by plan type.

Providers

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Principal Financial Group

www.principal.com
PROFILE2018RANK
Assets ($MM)$215,618 7
Plans41,9927
Participants5,595,7434
Participants by Plan Size
<$5MM1,433,604
$5MM – $25MM1,433,805
>$25MM – $100MM1,109,529
>$100MM – $500MM1,024,975
>$500MM593,830
Plans by Channel
Direct sold 1%
Intermediary sold 99%
Assets ($MM) by Plan Type
401(k)$143,359
403(b)$13,004
457 $1,349
NQDC$5,972
All Other$51,934
Service Offerings
New client restrictionsNone
Multiple service modelsYes
Offers corporate trustee servicesNot reported
# of internal ERISA counsel5 ERISA attorneys; 2 legal assistants
Will act as §3(16) fiduciaryYes - via third party
Participant Services
Call center hoursWeekdays: 6 a.m. - 8 p.m. ET
Online chat supportYes
Mobile appYes
Managed account optionsMorningstar
Retirement Income
Displays retirement income estimate on statementsYes
Offers in-plan guaranteed retirement income productsYes
Offers out-of-plan annuity bidding serviceYes
Recordkeeping PlatformProprietary system
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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.