2025
DC Survey: Plan Provider Service Ratings

The 2025 DC Survey: Plan Provider Service Ratings is based on the results of the annual PLANSPONSOR Defined Contribution Survey. This was fielded using the Qualtrics survey platform from August through November 2024. In collaboration with recordkeepers of DC plans, we invited plan sponsors to report on their plan facts to compile these reports. All data are as of June 30, 2024.

Data are reported in aggregate, based on specified asset ranges for eight plan types and 48 industries. We report on plan types and design features, loans and withdrawals, participation and eligibility, and more.

The results incorporate the responses of 3,172 plan sponsors from a broad variety of U.S. industries. This report compares the survey responses of plan sponsors from the overall respondents dataset with those of survey respondents for the listed industries. Of the overall respondents, 2,411 reported asset range data.

Best in Class

Eleven providers received enough plan sponsor ratings to qualify for listing under at least one plan asset range and were thereby eligible to receive Best in Class recognition for service to that plan group. This year, we included in the list of providers those that were within five responses of qualifying for the recognition. These providers are included in the subsequent charts but were not considered for any Best in Class or Service Commendation awards.

Sponsors rated their provider in four areas of service: 1) recordkeeping platform; 2) participant services; 3) plan sponsor services and support; and 4) investments and fees. Best in Class awards are based on overall satisfaction ratings within a service area. The results are organized by each asset range. Within these, besides citing the highest-rated providers, we note which of all providers in that group received a Best in Class award, Service Commendation award or top-quartile ranking for that area of service.

After categorizing sponsor responses by plan assets, we segmented providers to determine response rate and overall net satisfaction rating greater than our 70% minimum. Ratings of 9 or 10, on a 10-point scale, were scored as “completely satisfied,” while scores of 6 or less were considered “dissatisfied.” Best in Class awards were given to providers, for a service, as follows: the two scoring highest with sponsors having less than $5MM in plan assets, the three scoring highest with sponsors having $5MM through $200MM in plan assets and the two scoring highest with sponsors having more than $200MM in plan assets. Service Commendations were given to recordkeepers whose rating exceeded 70% but was too low for Best in Class.

Net Promoter Score^*

PLANSPONSOR applied a modified scoring procedure of Satmetrix Systems’ Net Promoter System to measure sponsor satisfaction among participants. Our BIC NPS ratings were calculated by subtracting the number of customers that provided a score of 6 or less (“detractors”) from the number of those that gave a score of 9 or 10 (“promoters.”) Those that rated between these scores—7s and 8s—were considered “passives” and do not contribute to the overall final score. For additional information, please visit netpromotersystem.com.

Survey findings are further explored in the “2025 Plan Benchmarking Report” and industry reports. With any questions regarding the data presented here, please contact surveys@issmediasolutions.com

—Kimberley Gonzalez-Quiles

^*Net Promoter^®, NPS^®, NPS Prism^®, and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld. Net Promoter Score^® and Net Promoter System^SM are service marks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld.