PLANADVISER - July/August 2020 - 21
DC Recordkeeping Industry Overview
he 2020
T
PLANADVISER Recordkeeper
Services Survey utilizes
data gathered in the 2020 PLANSPONSOR
Recordkeeping Survey. That
annual survey is compiled from selfreported
data submitted by recordkeepers
of defined contribution (DC)
plans and highlights recordkeeper
experience in servicing 401(k), 403(b)
and 457 plans, among others.
With roughly $6 trillion in assets
and totaling more than 575,000 plans,
401(k)s have come to dominate the
retirement plan landscape, but the
market is far from uniform: 92% of all
401(k)s each have less than $10 million
in assets, while the top 0.12%-i.e.,
the 732 largest plans, each having over
$1 billion in assets-control over half,
51%, of 401(k) assets.
Recordkeepers have adapted service
models to meet needs of both small and
large plans. Readers are encouraged to
follow up with providers directly for
details on the scope and availability of
all service offerings. -Brian O'Keefe
METHODOLOGY: The 2020 PLANSPONSOR
Recordkeeping Survey,
conducted in May, received a total of
53 responses. The results represent
over $8.2 trillion in defined contribution
(DC) assets and, based on internal
analysis, are estimated to account for
90% of the total DC market. Additional
information is available online
at plansponsor.com/research.
Of the participating recordkeepers,
46 claim to serve the intermediary
market and are featured in the grid on
pages 26 and 27. Data on these firms
highlight select features and capabilities
that might be of interest to retirement
plan advisers. Unless otherwise
noted, all data reported are as
of December 31, 2019. The pages that
follow also summarize survey results
by market and provider.
For information on licensing the
supporting data on all 53 recordkeepers
or to learn how to participate
in the 2021 PLANSPONSOR
Recordkeeping Survey, please email
surveys@issmediasolutions.com.
Total assets
$8,263,066
Plan Size
<$10mm
$10mm - $50mm
>$50mm - $200mm
>$200mm
Total plans
815,336
Assets ($mm)*
$925,854
$864,922
$941,229
$5,531,061
Total participants
111,673,974
Plans*
754,701
45,315
10,299
5,021
Participants*
22,685,285
15,490,953
14,938,663
58,559,073
*Not all providers report complete data; therefore, data segmented by plan size will not equal
the corresponding overall total.
Growth in Total DC Plan Assets ($mm)
$8,263,065
$7,467,594
$5,961,980
$6,085,769
$7,119,309
Total Defined Contribution (DC) Assets ($mm), Plans and Participants
2016
2017
2018
2019
DC Market Share, by Ranking of the 20 Largest Recordkeepers
n Top 5 n Next 5 n Next 10
92%
86%
75%
64%
57%
44%
25%
12%
Assets
Plans
Participants
67%
2020
planadviser.com July-August 2020 | 21
http://www.plansponsor.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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