Strengths and Gaps

Most plan sponsors report strong relationships with their recordkeepers, but deeper analysis shows some areas in need of improvement.

In any service provider relationship, the quality of customer service often determines whether clients feel they’ve received appropriate value for their investment—or whether the services fall short. This dynamic is especially critical in the relationship between retirement plan recordkeepers and plan sponsors. As organizations place increasing emphasis on employee financial wellness, expectations continue to rise for recordkeepers to deliver strong experiences not only to plan sponsors, but also to plan participants.

The 2025 PLANSPONSOR Defined Contribution Survey shows that, overall, plan sponsors report high levels of satisfaction with their recordkeepers. Among respondents, 71.6% said they would be at least moderately likely to recommend their provider, and 71.1% reported they have been with their current provider for more than five years, with nearly six in 10 exceeding seven years.

Yet a deeper look at the data highlights meaningful opportunities for improvement.

Using a modified version of Satmetrix Systems’ Net Promoter System, PLANSPONSOR assessed satisfaction by subtracting “detractors” (scores of 6 or below) from “promoters” (scores of 9 or 10). The midsize‑plan market (assets of $50 million to $200 million) received the highest average NPS (77.6%) and consistently showed the strongest satisfaction ratings across most service areas. Sponsor services and support (73.9%) and investments and fees (73.3%) scored the highest, while plan administration (68.3%) and participant services (60.3%) earned the lowest marks within this segment.

However, the micro‑plan market (less than $5 million in assets) recorded the lowest average NPS (58.9%). In this group, plan administration (69.4%) and sponsor services and support (67.4%) scored relatively higher, while investments and fees (64.1%) and participant services (59.0%) lagged. Although investment fees in smaller plans have been improving—according to the Investment Company Institute—they remain higher than those in larger plans.

More Focus Needed on Participant Services

Participant services emerged as a lower-rated area across several plan‑size segments—not just among micro plans. As noted earlier, participant services received the lowest rating in the midsize market. It also ranked lowest in both small plan categories:

• Small A ($5 million to $25 million): NPS of 66.0%
• Small B (greater than $25 million to $50 million): NPS of 65.0%

When reviewing nominations for the 2026 PLANSPONSOR Service Star Awards, many plan sponsors praised service representatives for their attentiveness to participant needs—highlighting prompt responses and the ability to explain the plan clearly in understandable language. These comments underscore the value sponsors place on strong participant support.

What’s Valued in Plan Sponsor Services

Nominations for the Service Star Awards also shed light on what support plan sponsors appreciate from their recordkeeper service teams. Responsiveness was cited most often, along with traits such as:

• Educating sponsors on plan rules;
• Proactively suggesting plan design or administrative improvements;
• Providing audit support; and
• Stepping in to correct errors discovered by the plan sponsor or payroll provider.

Sponsor services and support received the lowest ratings in the mega (more than $1 billion) and large ($200 million to $1 billion) markets, yet it ranked highest in the midsize and Small A market segments and second highest in the Small B market segment.

Across all respondents, the category of sponsor websites, reporting and tools received an average NPS of 8.44, while sponsor account and service teams received an average NPS of 8.91.

Additional findings and provider ratings may be found in the pages that follow.

—Rebecca Moore