2020
Best in Class DC Providers

Industry Snapshot

Provider Industry Snapshot

Likelihood of Recommending ­Recordkeeper to a Friend or Colleague

  • Extremely likely
  • Somewhat likely
  • Less likely
Nearly all (96%) sponsors are at least somewhat apt to recommend their provider. Longer provider relationships, and smaller plans, have greater satisfaction.

Average Net Satisfaction, by Tenure With DC Plan Recordkeeper

<1 year
62%
1 year – 3 years
66%
>3 years – 5 years
74%
>5 years
76%

Net Recommendation Rate, By Total DC Plan Assets

<$5MM
78%
$5MM – $25MM
75%
>$25MM – $50MM
79%
>$50MM – $200MM
66%
>$200MM – $1B
70%
>$1B
62%

Average Service Ratings

1 - Poor; 10 = Excellent
Participant Services Min Mean Max
Enrollment materials/support 8.42 9.02 9.70
Print/digital campaigns 7.36 8.30 9.42
Pre-retiree support 7.93 8.63 9.56
In-person participant support 7.12 7.82 9.15
Online retirement planning tools 8.00 8.57 9.33
Financial wellness offerings 7.34 8.19 9.41
Sponsor Services Min Mean Max
Plan management 8.58 9.23 9.86
Plan analytics/benchmarking 7.94 8.68 9.61
Plan reporting 8.30 8.84 9.67
Service Teams / Support Min Mean Max
Plan/industry knowledge 8.28 9.03 9.94
Responsiveness/consistency 8.81 9.24 9.91
Regulatory updates 8.55 9.17 9.82
Compliance support 8.60 9.27 9.92
Plan Administration Min Mean Max
Transaction processing 8.72 9.27 9.92
Beneficiary administration 8.38 8.82 9.94
Loan and withdrawal processing 8.89 9.34 9.90
Plan design flexibility 7.65 8.83 9.88
Payroll integration 8.28 8.91 9.76
Cyber-security policies 8.79 9.32 9.74
Investments/Fees Min Mean Max
Traditional investment options 8.62 9.08 9.68
Custom investment options 8.46 8.96 9.78
Retirement income solutions 8.06 8.96 9.71
”Cost to value” of plan fees 8.37 8.78 9.62
Net Recommendation / Promoter Score represents the percentage of respondents “very likely to recommend” the provider (i.e., giving it a score of 9 or 10 on a 10-point scale) minus the percentage of scores of 6 or below (i.e., those “likely to recommend against”).