2020
Recordkeeping Survey

Top Recordkeepers

Top Recordkeepers

Total Defined Contribution Plans Added in 2019
1Paychex, Inc. 17,693
2ADP Retirement Services 9,112
3American Funds 6,986
4Ascensus 6,382
5John Hancock 5,662
6Empower Retirement 4,399
7Guideline 4,334
8Principal Financial Group 4,017
9Transamerica Retirement Solutions 1,830
10Newport 1,544
Top 10, by Total 401(k) Assets ($MM)
1Fidelity Investments$2,037,733
2Empower Retirement$493,577
3The Vanguard Group, Inc.$454,223
4Alight Solutions$434,737
5Principal Financial Group$322,976
6Voya Financial$221,389
7T. Rowe Price$195,224
8Prudential Retirement$180,544
9Bank of America Corporation$173,412
10Charles Schwab$162,876
Top 10, by 401(k)s With <$10MM in Assets
1Paychex, Inc. 89,864
2American Funds 56,845
3ADP Retirement Services 52,310
4John Hancock 45,959
5Ascensus 41,591
6Principal Financial Group 31,536
7Empower Retirement 27,999
8Transamerica Retirement Solutions 23,535
9Voya Financial 22,461
10MassMutual 18,832
Top 10, by 401(k)s With >$100MM in Assets
1Fidelity Investments 1,866
2The Vanguard Group, Inc. 584
3Principal Financial Group 453
4Empower Retirement 397
5Charles Schwab 326
6T. Rowe Price 282
7Prudential Retirement 275
8Transamerica Retirement Solutions 170
9Voya Financial 161
10MassMutual 137
401(k) Assets per Participant (actual $)
1Conduent HR Services, LLC$147,291
2Charles Schwab$133,228
3Fidelity Investments$110,057
4The Vanguard Group, Inc.$106,195
5Alight Solutions$102,926
6T. Rowe Price$97,412
7Northwest Plan Services, Inc.$97,265
8TCG Administrators$93,976
9Voya Financial$90,243
10ICMA-RC$89,838
Top 10, by Total 403(b) Assets ($MM)
1TIAA$452,343
2Fidelity Investments$248,517
3Transamerica Retirement Solutions$55,376
4AIG Retirement Services$53,824
5Voya Financial$49,028
6Lincoln Financial Group$39,209
7The Vanguard Group, Inc.$31,222
8Equitable$26,542
9Empower Retirement$22,121
10Newport$18,795
Top 10, by 403(b) ERISA Plans
1TIAA 14,199
2Lincoln Financial Group 5,902
3Newport 2,475
4AIG Retirement Services 2,173
5Principal Financial Group 1,844
6Voya Financial 1,504
7Fidelity Investments 1,454
8Nationwide 1,284
9MassMutual 1,176
10Empower Retirement 1,082
Top 10, by 403(b) Non-ERISA Plans
1Voya Financial 18,797
2AIG Retirement Services 15,543
3Equitable 15,519
4Newport 10,065
5PCS Retirement, LLC 7,881
6Fidelity Investments 7,337
7Nationwide 6,588
8TIAA 5,820
9Lincoln Financial Group 5,758
10PlanMember Services Corportation 3,173
Footnote: Profiled online as part of the 2020 PLANSPONSOR 403(b) and 457 Plan Market Survey, to be published this fall.
Top 10, by Total 457 Plan Assets ($MM)
1Voya Financial$102,457
2Nationwide$90,340
3Empower Retirement$76,069
4ICMA-RC$40,901
5Fidelity Investments$22,882
6Prudential Retirement$22,681
7MassMutual$13,979
8T. Rowe Price$10,177
9AIG Retirement Services$9,391
10TIAA$9,306
Top 10, by Governmental 457(b) Plans
1Nationwide 7,218
2Voya Financial 5,263
3ICMA-RC 4,693
4Equitable 2,450
5AIG Retirement Services 1,972
6MassMutual 1,533
7Empower Retirement 1,111
8OneAmerica 955
9Lincoln Financial Group 916
10PCS Retirement, LLC 770
Top 10, by Nongovernmental 457 Plans
1AIG Retirement Services 2,382
2TIAA 1,329
3CUNA Mutual Retirement Solutions 879
4Principal Financial Group 808
5Lincoln Financial Group 596
6Fidelity Investments 416
7Voya Financial 391
8MassMutual 380
9Empower Retirement 310
10Transamerica Retirement Solutions 232
Top 10, by Total NQDC Participants
1Fidelity Investments169,846
2Newport117,468
3Transamerica Retirement Solutions98,976
4Prudential Retirement84,347
5Principal Financial Group51,434
6Bank of America Corporation46,647
7The Vanguard Group, Inc.32,678
8Alight Solutions32,200
9Empower Retirement27,385
10ADP Retirement Services24,696
Top 10, by Total 409A† NQDC Liabilities
1Fidelity Investments$42,939
2Newport$37,519
3Prudential Retirement$17,568
4Principal Financial Group$13,177
5Bank of America Corporation$11,559
6NFP$4,949
7Charles Schwab$4,271
8Conduent HR Services, LLC.$3,755
9Voya Financial$3,625
10T. Rowe Price$3,098
Footnote: Pertaining to plans covered under Section 409A of the United States Internal Revenue Code. Profiled online as part of the 2020 PLANSPONSOR NQDC Plan Market Survey, to be published this fall.
Top 10, by % of NQDC Bundled Services
1GuideStone Finanical Resources100%
1Lincoln Financial Group100%
3Fidelity Investments99%
4Conduent HR Services, LLC.93%
5Charles Schwab92%
6T. Rowe Price90%
7Bank of America Corporation82%
8BOK Financial80%
9Prudential Retirement28%
10CUNA Mutual Retirement Solutions21%