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Data and Research February 24, 2021
The NQDC Market
Data on number of plans, participants and liabilities by nonqualified plan type, and a listing of the largest providers of section 409A plans and section 457 plans.
Reported by Rebecca Moore and Brian O'Keefe
Art by Luke Wohlgemuth
From our 2020 Recordkeeping Survey, 39 providers reported serving nonqualified plans. Seventeen providers reported data in the separate NQDC questionnaire, accounting for more than 65% of total reported Section 409A nonqualified plans. The market data below is based on those 17 providers who reported.
Largest Providers by Section 409A Plans
1. Principal Financial Group—2,434 plans
2. Newport—1,474 plans
3. Fidelity Investments—1,433 plans
4. Prudential Retirement—539 plans
5. Voya Financial—268 plans
Largest Providers by Non-Governmental Section 457 Plans
1. CUNA Mutual—1,212 plans
2. Principal Financial Group—1,054 plans
3. Lincoln Financial Group—658 plans
4. Fidelity Investments—595 plans
5. Voya Financial—411 plans