PLANADVISER - July/August 2020 - 19

SEP / SIMPLE Plans
T
his June, PLANADVISER launched its first survey of
the employer-sponsored individual retirement account
(IRA) plan market, focusing specifically on SEP [simplified
employee pension] and SIMPLE [savings incentive match
plan for employees] plans. The Investment Company Institute
(ICI) estimates that 7.8 million U.S. households (6.1%)
owned one of these accounts last year. While qualified plans
such as 401(k)s, 403(b)s and 457s are more widely available,
SEP and SIMPLE IRA plans have fewer rules and are easier
to administer, which might make them an apt choice for
employers with under 100 workers.
Capital
Group,
ADP
Retirement
Services
SEP Plans
Total assets ($mm)
Total accounts
IRS Form 5304
IRS Form 5305
Prototype document
Other
Fees
SIMPLE Plans
Total plans*
Total assets ($mm)
Total accounts
IRS Form 5304
IRS Form 5305
Prototype document
Other
Fees
3
3
P C A
3
C A
P C A
40,092
$1,225
128,992
3
3
C A
9,996
$1,199
40,706
3
$13
2,190
Ascensus
$452
8,599
3
home of
American
Funds
$13,175
185,511
3
3
3
S C T
192,804
$31,777
951,659
3
3
3
S C T
3
3
-T
FEES
LEGEND
S = Plan setup fee
P = Annual or other periodic plan administrative processing fee
C = Custodial account fee or other periodic individual account charge-e.g., annual, monthly, etc.
A = Asset-based participant fees, other than fund operating expenses
T = Commissions, trading fees or execution fees (individual account level)
-- Not reported
*Data on total plans is given for SIMPLEs only. SEP plan counts largely mirror SEP account totals and were omitted for space considerations. Data
is available at www.planadviser.com/research.
C T
3
3
-C
A
3
3
-T
20,382
$9,961
224,373
125,000
$20,704
390,700
C
45,805
$5,975
168,413
3
3
3
3
3
-C
A
696
$84
3,831
3
7,127
$1,158
38,157
3
Charles
Schwab
$52,158
336,966
Fidelity
$70,700
495,900
Invesco
$1,856
44,613
PCS
$15
200
Principal
Financial
Group
$466
7,759
METHODOLOGY: The SEP/SIMPLE IRA Market Survey was
open for response in June. PLANADVISER invited more than
25 providers of SEP and SIMPLE IRA plans to participate and
received eight replies. The questionnaire explored investment
options, fees and other provider capabilities. All reported
data are as of December 31, 2019. Additional information is
available online at planadviser.com/research. Readers are
encouraged to follow up with providers directly for further
details on the scope and availability of service offerings. For
other information or to participate in future versions of the
survey, please email surveys@issmediasolutions.com.
planadviser.com July-August 2020 | 19

http://www.planadviser.com/research http://www.planadviser.com/research http://www.planadviser.com

PLANADVISER - July/August 2020

Table of Contents for the Digital Edition of PLANADVISER - July/August 2020

Investing Against COVID-19
2020 PLANADVISER Recordkeeper Services Survey
Three Who Lead the Way
Prospecting in Turbulent Times
Retirement Savings Optimization
DOL Gives Private-Equity Guidance
Investment Advice Revisited
PLANADVISER - July/August 2020 - C1
PLANADVISER - July/August 2020 - FC1
PLANADVISER - July/August 2020 - FC2
PLANADVISER - July/August 2020 - C2
PLANADVISER - July/August 2020 - 1
PLANADVISER - July/August 2020 - 2
PLANADVISER - July/August 2020 - 3
PLANADVISER - July/August 2020 - 4
PLANADVISER - July/August 2020 - 5
PLANADVISER - July/August 2020 - 6
PLANADVISER - July/August 2020 - 7
PLANADVISER - July/August 2020 - 8
PLANADVISER - July/August 2020 - 9
PLANADVISER - July/August 2020 - 10
PLANADVISER - July/August 2020 - 11
PLANADVISER - July/August 2020 - Investing Against COVID-19
PLANADVISER - July/August 2020 - 13
PLANADVISER - July/August 2020 - 14
PLANADVISER - July/August 2020 - 15
PLANADVISER - July/August 2020 - 2020 PLANADVISER Recordkeeper Services Survey
PLANADVISER - July/August 2020 - 17
PLANADVISER - July/August 2020 - 18
PLANADVISER - July/August 2020 - 19
PLANADVISER - July/August 2020 - 20
PLANADVISER - July/August 2020 - 21
PLANADVISER - July/August 2020 - 22
PLANADVISER - July/August 2020 - 23
PLANADVISER - July/August 2020 - 24
PLANADVISER - July/August 2020 - 25
PLANADVISER - July/August 2020 - 26
PLANADVISER - July/August 2020 - 27
PLANADVISER - July/August 2020 - Three Who Lead the Way
PLANADVISER - July/August 2020 - 29
PLANADVISER - July/August 2020 - 30
PLANADVISER - July/August 2020 - Prospecting in Turbulent Times
PLANADVISER - July/August 2020 - 32
PLANADVISER - July/August 2020 - 33
PLANADVISER - July/August 2020 - Retirement Savings Optimization
PLANADVISER - July/August 2020 - 35
PLANADVISER - July/August 2020 - 36
PLANADVISER - July/August 2020 - 37
PLANADVISER - July/August 2020 - DOL Gives Private-Equity Guidance
PLANADVISER - July/August 2020 - Investment Advice Revisited
PLANADVISER - July/August 2020 - 40
PLANADVISER - July/August 2020 - C3
PLANADVISER - July/August 2020 - C4
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