2026
Recordkeeping Survey
As employers adopt pooled employer plans and as plans become more than just savings vehicles for retirement, the recordkeeper service model is evolving.
Industry Snapshot
403(b) Plans*
The SPARK Institute’s executive director, Tim Rouse, notes that 403(b) plans, especially non-ERISA or multi-vendor arrangements common in public and nonprofit sectors, require specialized support for information sharing, compliance and participant disclosures to multiple vendors. “Recordkeepers have kept pace,” he says. “Ongoing needs include streamlined multi-vendor coordination and modern tools for engagement.” The growth of PEP offerings in the 403(b) market has not been as robust as in the 401(k) market, says Michael Ready, a partner in and retirement plan specialist at the Summit Financial Group, because of the complexities caused by unique features in 403(b) plans. “It has to be service model over price” [in the 403(b) market], he says. “Sponsors want to find a recordkeeper that has a history with [403(b)s] and [that] does them really, really well.”—Rebecca Moore
*2024 – 2026 totals represent findings for single, pooled employer and multiple employer 403(b)s
Total assets
Total plans
Total participants
138,043
18,134,066
$1.7T
Total assets
Total plans
Total participants
138,043
18,134,066
$1.7T
Total assets
Total plans
Total participants
138,043
18,134,066
$1.7T
Total assets
Total plans
Total participants
138,043
18,134,066
$1.7T
