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
Pooled Employer Plans*
According to the SPARK Institute’s executive director, Tim Rouse, as of data from late 2024 through early 2025, PEPs have seen rapid asset and participant increases, with many recordkeepers now offering them—54.0%, according to SPARK’s forthcoming Marketplace Update survey. “Larger employers joining PEPs has been a positive surprise, expanding beyond the original small-plan focus,” Rouse says. “SPARK’s member feedback highlights PEPs’ success in reducing fiduciary and administrative burdens through pooled plan providers, or PPPs, driving efficiency and innovation.” Michael Ready, a partner in and retirement plan specialist at the Summit Financial Group, says recordkeepers that have the scale to serve PEPs will dominate, which could lead to more provider consolidation.—Rebecca Moore
*Combines 401(k) and 403(b) plans
Total
assets
Total
PEPs
Total
participants
Total adopting employers
$34B
330
1,207,922
10,797
Total
assets
Total
PEPs
Total
participants
Total adopting employers
$34B
330
1,207,922
10,797
Total
assets
Total
PEPs
Total
participants
Total adopting employers
$34B
330
1,207,922
10,797
Total
assets
Total
PEPs
Total
participants
Total adopting employers
$34B
330
1,207,922
10,797
