RESEARCH | May 18, 2020

2020
Defined Benefit Administration Survey

Reported by PLANSPONSOR | Art by Nadja Zinnecker

Introduction

Like our Recordkeeping Survey on the defined contribution side of the market, the DB Administration Survey showcases providers in the DB market—who the major players are, who they serve, what services they provide. Also included is information on overall market sizing.

Bank of America

DB CLIENT OVERVIEW
Total DB admin clients¹	28
Full outsourcing	96%
DB and DC clients	50%

DB PLAN OVERVIEW
Total DB plans	48
Frozen plans	NR
Cash balance plans	13%
With <100 participants	17%
With >5,000 participants	6%

DB PARTICIPANT OVERVIEW
Total Participants	361,539
Private/Corporate²	100%
Public/Government	0%
Retired participants	19%
All interactions on web	95%

SPONSOR SERVICES OFFERED
Plan accounting / Master trust	I
Trust and custody services	I
Actuarial services	P
Investment management	I
Liability-driven investing	I
Investment consulting	I

PARTICIPANT ONLINE SERVICES
Online initiation	Yes
Online elections	No
E-form processing	No
Online inquiry status	No

I = Internal; E = External; P = Partnership; = Supports service as of publication date; NR = Not Reported in time for publication

Footnote:

¹Includes both full outsourcing and partial outsourcing/co-sourcing arrangements; excludes investment-only, actuary-only and plan-consulting-only clients.
² Includes both single-employer and multi-employer/Taft-Hartley plans.

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