The questionnaire for the 2015 PLANSPONSOR Recordkeeping Survey—our 17th—was distributed to known providers of full-service and unbundled recordkeeping for both qualified and nonqualified defined contribution (DC) plans. A total of 66 responses were received before the survey deadline in May. All data reported on the pages that follow are as of December 31, 2014; comparable data from the prior year are as of December 31, 2013.
The survey questionnaire was designed to gather a wide range of information pertaining to each provider’s experience, services and capabilities. All information was self-reported; statements related to product/service offerings available to defined contribution plan sponsors were supplied by each individual provider and subject to PLANSPONSOR’s internal quality assurance reviews, where possible. Readers are strongly encouraged to follow up with providers directly for additional details on the scope of services available.
Providers are listed in alphabetical order, with “Asset rank” indicating the provider’s overall placement based on total recordkeeping assets under administration (AUA). Information included in each profile is a snapshot, highlighting some of the factors to consider when selecting a recordkeeping partner.
Although the following tables supply a wealth of information, they contain just a fraction of each provider’s survey responses. To purchase an Excel spreadsheet providing the full dataset of responses from all 66 providers, please contact Michelle Judkins at email@example.com. To learn how to participate in our 2016 recordkeeping survey, please contact Brian O’Keefe at firstname.lastname@example.org.
Provider Listing Key
• In some cases, unfunded nonqualified deferred compensation (NQDC) liabilities are reported as “assets.”
• Target-date fund (TDF) families reflect the number of retail target-date options available to plan sponsors; “all” is used to designate access to any fund available via the National Securities Clearing Corp. (NSCC) trading platform. Custom target-date funds may also be available and are excluded from counts.
• ERISA [Employee Retirement Income Security Act] counsel equals the number of full-time equivalent legal staff available to opine on ERISA legal issues when needed.
• Providers supporting 360-degree payroll integration accommodate direct, two-way communication of data with a payroll vendor to help simplify plan administration. The service may be available to “all clients”; available to “some clients” based on certain conditions; “planned” for release by mid-2016; or not available, in which case other processes are used to support payroll data exchange.
• Restrictions note common conditions for acceptance of new clients. Other requirements may apply. Please contact providers for more details.
• NR = Not reported in time for publication; NA = Not applicable.