RESEARCH |
2020
Defined Benefit Administration Survey
Reported by PLANSPONSOR
| Art by Nadja Zinnecker
Providers
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. |
