SURVEY |

2024
Recordkeeping Survey

Recordkeepers are juggling competing priorities of new mandatory and optional plan features alongside demands for their platforms to support retirement income, personalization, financial wellness programs and more.

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


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