SURVEY |
2023
Best in Class DC Providers
Tktk This year’s Best in Class providers represent an evolving set of best practices.
Reported by PLANSPONSOR
| Art by Giulio Bonasera
Service Ratings
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Plan Assets <$5MM
Plan sponsors in the micro-plan market were the most satisfied of those in all the plan markets with plan administration (69%) and sponsor services and support (67%). Participant services and investments and fees both trailed, at 61%—the lowest satisfaction number recorded.
Top 5 Providers
| by Net Recommendation/Promoter Score* | |||
|---|---|---|---|
| 1 | The Standard | 76.90% | |
| 2 | Empower Retirement | 65.20% | |
| 3 | T. Rowe Price | 54.80% | |
| 4 | Principal | 53.80% | |
| 5 | Ascensus | 51.50% | |
| *Net Recommendation/Promoter Score is based on Satmetrix Systems' Net Promoter ScoreSM methodology and represents an overall percentage of respondents likely to recommend the provider minus those who are 'neutral' or 'likely to recommend against.
Other providers and their recommendation percentage listed in this market: Voya (50.0%); Nationwide (26.5%). | |||
| Participant Services | Promoter Satisfaction Rating | # of BICs | |
|---|---|---|---|
| 1 | The Standard | 71.90% | 5 |
| 2 | Voya | 69.70% | 4 |
| 3 | Empower Retirement | 63.50% | 3 |
| 4 | Ascensus | 61.80% | 1 |
| 5 | Principal | 56.40% | 1 |
| Plan Sponsor Services | Promoter Satisfaction Rating | # of BICs | |
|---|---|---|---|
| 1 | The Standard | 80.40% | 2 |
| 2 | Empower Retirement | 75.60% | 2 |
| 3 | Ascensus | 72.30% | 1 |
| 4 | Principal | 66.70% | 1 |
| 5 | Voya | 65.90% | 0 |
| Plan Admistration | Promoter Satisfaction Rating | # of BICs | |
|---|---|---|---|
| 1 | The Standard | 80.60% | 3 |
| 2 | Voya | 75.40% | 2 |
| 3 | Principal | 72.00% | 2 |
| 4 | Empower Retirement | 71.60% | 2 |
| 5 | Ascensus | 67.70% | 0 |
| Investment & Fees | Promoter Satisfaction Rating | # of BICs | |
|---|---|---|---|
| 1 | The Standard | 76.90% | 2 |
| 2 | Empower Retirement | 68.20% | 2 |
| 3 | Ascensus | 67.70% | 1 |
| 4 | Voya | 61.90% | 1 |
| 5 | T. Rowe Price | 54.10% | 0 |
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