RESEARCH | June 3, 2024

2024
Recordkeeping Survey

Reported by PLANSPONSOR | Art by Alex Eben Meyer

Industry Snapshot

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Industry Snapshot

Recordkeeping Industry Snapshot

Total Defined Contribution Plan Assets and Participants

$12t

150m

132.2m

129.6m

$10.9t

117.7m

113.8m

$11t

120m

$10.3t

$10t

90m

$9.8t

$9.4t

$9t

60m

2021

2022

2023

2024

Defined Contribution Assets

Participants

150m

$12t

132.2m

129.6m

$10.9t

117.7m

113.8m

$11t

120m

$10.3t

$10t

90m

$9.8t

$9.4t

$9t

60m

2021

2022

2023

2024

Defined Contribution Assets

Participants

150m

$12t

132.2m

129.6m

$10.9t

117.7m

113.8m

$11t

120m

$10.3t

$10t

90m

$9.8t

$9.4t

$9t

60m

2021

2022

2023

2024

Defined Contribution Assets

Participants

$12t

150m

132.2m

129.6m

$10.9t

117.7m

$11t

120m

113.8m

$10.3t

$10t

90m

$9.8t

$9.4t

$9t

60m

2021

2022

2023

2024

Defined Contribution Assets

Participants

Defined Contribution Assets, by Plan Type

Single-employer 401(k)

$7,288B

Pooled employer or multiple employer 401(k)*

$65B

Single-employer 403(b)

$1,325B

Pooled employer or multiple employer 403(b)*

$11B

457 – 457(b) / 457(f)

$551B

Money purchase / Profit-sharing

$362B

ESOP / KSOP^†

$196B

NQDC^‡, excluding 457s

$183B

State-sponsored^§

$1B

SEP / SIMPLE IRA*^¶

$8B

Any other defined contribution plan type

$975B

* These plan types were not broken out in previous surveys.
† A qualified retirement plan combining an employee stock ownership plan with a 401(k)
‡ Nonqualified deferred compensation.
§ State-sponsored individual retirement plans*—e.g., Secure Choice
¶ Simple employer pension / Savings incentive match plan for employees individual retirement account.

Tenure With the Provider

<5 years
5 – 8 years
>8 years

Plans, by Participant Size

<10 participants

428,625

10 – 50 participants

280,054

51 – 100 participants

66,231

101 – 500 participants

66,138

>500 participants

24,743

48.5%
of recordkeepers offer multiple service models

96,904
DC recordkeeping plans were added in 2023

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