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.
Industry Snapshot
403(b), All Types
Kim Cochrane, senior director of client services for Hub International’s Mid-Atlantic region has a few questions she typically asks recordkeepers of 403(b) plans: How do they handle legacy individual contracts held at other providers? And, how are they integrating 403(b) language into their websites/marketing/disclosures instead of using the term “401(k)”? Cochrane says plan sponsors with a 403(b) plan look to a potential new recordkeeper for high touch and high quality, and should ask to meet during the evaluation with their potential service team. “A call center is not an effective way to interact with a recordkeeper. 403(b) plan sponsors are mostly concerned about whom they’ll be working with, not the accolades and awards that recordkeepers like to showcase.”—Judy Faust Hartnett
Total assets
Total plans
Total participants
125,810
16,891,042
$1.34T
Total assets
Total plans
Total participants
125,810
16,891,042
$1.34T
Total assets
Total plans
Total participants
125,810
16,891,042
$1.34T
Total assets
Total plans
Total participants
125,810
16,891,042
$1.34T
*Single-employer, Pooled employer or multiple employer 403(b)
