2020
Recordkeeping Survey

Providers

Charles Schwab

corporateservices.schwab.com
Assets ($MM) by Plan Type
Ranked #12$187,378
401(k)87%
403(b)<1%
457 <1%
NQDC2%
Other11%
Participants by Plan Size
Ranked #171,544,812
<$10MM<1%
$10MM – $50MM7%
>$50MM – $200MM22%
>$200MM71%
Plans by Count
Ranked #431,097
% Third-party administration
Not Reported
Related Offerings
HSA integrationDirect
Student Loan RepaymentDirect
Financial wellness options1
Service Offerings
New client restrictionsWill accept DB, 457, and 403(b) plans on a case by case basis; generally when paired with a DC plan.
Multiple service modelsYes
Offers corporate trustee servicesYes - direct offering
# of internal ERISA counsel5
Will act as §3(16) fiduciaryNo
Participant Services
Call center hoursWeekdays: 7 a.m. - 11 p.m. ET
Online chat supportYes
Mobile app
Managed account optionsMorningstar/Ibbotson
Retirement Income
Displays retirement income estimate on statementsNo
Offers in-plan guaranteed retirement income productsNo
Offers out-of-plan annuity bidding serviceYes
Recordkeeping PlatformProprietary recordkeeping system