2020
Recordkeeping Survey

Industry Snapshot

Recordkeeping Industry Snapshot

The 2020 PLANSPONSOR Recordkeeping Survey is compiled from self-reported data submitted by recordkeepers of defined contribution (DC) plans. The results represent over $8.2 trillion in DC assets and, based on internal analysis, are estimated to account for 90% of the total DC market. Unless otherwise noted, all data reported are as of December 31, 2019.

The pages that follow summarize survey results by market and provider. Provider profiles are presented alphabetically and reflect a provider’s experience in servicing different types of plans. Profile data is aggregated and ranked by total assets, plans and participants. “Total assets” is further segmented according to plan type; “total participants” is segmented according to plan asset range. Other rankings reflect only those organizations that reported the associated data.

Profiles also highlight each provider’s primary health savings account (HSA) product strategy—i.e., proprietary or partnership-based—and the number of financial wellness programs a sponsor has to choose from. Readers are encouraged to follow up with providers directly for further detail on the scope and availability of service offerings.

Additional information is available online at plansponsor.com/research. For information on licensing the supporting data or to learn how to participate in our 2021 Recordkeeping Survey, please email surveys@issmediasolutions.com. —Brian O’Keefe

Growth in Total DC Plan Assets ($MM)

2016
$5,961,980
2017
$6,085,769
2018
$7,467,594
2019
$7,119,309
2020
$8,263,065

Total Defined Contribution (DC) Assets, Plans and Participants

Plan Size Assets ($mm)* Plans* Participants*
<$10mm

$925,854

754,701

22,685,285

$10mm – $50mm

$864,922

45,315

15,490,953

>$50mm – $200mm

$941,229

10,299

14,938,663

>$200mm

$5,531,061

5,021

58,559,073

*Not all providers report complete data; therefore, data segmented by plan size will not equal the ­corresponding overall total.

Top 5, 10, 20 Recordkeepers’ Total DC Plan Market Share

By Assets

Top 5    Top 10    Top 20

92%

87%

75%

69%

52%

57%

92%

87%

75%

69%

57%

52%

87%

69%

52%

92%

75%

57%

87%

69%

52%

92%

75%

57%

By Plans

Top 5   Top 10    Top 20

12%

17%

25%

31%

64%

55%

12%

17%

25%

31%

64%

55%

17%

31%

55%

12%

25%

64%

17%

31%

55%

12%

25%

64%

By Participants

Top 5   Top 10    Top 20

86%

80%

39%

67%

44%

58%

86%

80%

39%

67%

44%

58%

80%

39%

58%

86%

67%

44%

80%

39%

58%

86%

67%

44%