SURVEY |
2023
Recordkeeping Survey
Reported by PLANSPONSOR
| Art by Philip Lindeman
Provider Rankings
Recordkeeper Rankings
| Top 10, by Total 401(k) Assets ($MM) | ||
|---|---|---|
| 1 | Fidelity Investments | $2,403,052 |
| 2 | Empower | $948,001 |
| 3 | Vanguard | $523,460 |
| 4 | Alight | $456,423 |
| 5 | Principal Financial Group | $275,209 |
| 6 | Voya Financial | $247,658 |
| 7 | T. Rowe Price | $206,647 |
| 8 | Schwab Retirement Plan Services, Inc. | $198,276 |
| 9 | Bank of America Corporation | $177,408 |
| 10 | Ascensus | $151,790 |
| Top 10, by 401(k) Plans With <$10MM in Assets | ||
|---|---|---|
| 1 | Paychex, Inc. | 88,659 |
| 2 | ADP Retirement Services | 84,178 |
| 3 | Ascensus | 75,182 |
| 4 | Capital Group, home of American Funds | 63,139 |
| 5 | John Hancock | 50,628 |
| 6 | Empower | 48,209 |
| 7 | Guideline | 37,287 |
| 8 | Principal Financial Group | 33,303 |
| 9 | Voya Financial | 24,715 |
| 10 | Transamerica | 18,805 |
| Top 10, by 401(k) Plans With >$100MM in Assets | ||
|---|---|---|
| 1 | Fidelity Investments | 2,160 |
| 2 | Empower | 874 |
| 3 | Vanguard | 583 |
| 4 | Principal Financial Group | 414 |
| 5 | Schwab Retirement Plan Services, Inc. | 355 |
| 6 | T. Rowe Price | 278 |
| 7 | Voya Financial | 199 |
| 8 | Transamerica | 154 |
| 9 | Bank of America Corporation | 133 |
| 10 | Alight | 111 |
| 401(k) Assets per Participant (actual $) | ||
|---|---|---|
| 1 | Schwab Retirement Plan Services, Inc. | $140,047 |
| 2 | Vanguard | $103,026 |
| 3 | Fidelity Investments | $101,944 |
| 4 | NWPS | $100,034 |
| 5 | Alight | $100,020 |
| 6 | T. Rowe Price | $96,630 |
| 7 | MissionSquare Retirement (formerly ICMA-RC) | $93,146 |
| 8 | Voya Financial | $91,078 |
| 9 | Empower | $79,245 |
| 10 | EPIC Retirement Plan Services | $77,908 |
| Top 10, by Total 403(b) Assets ($MM) | ||
|---|---|---|
| 1 | TIAA | $485,400 |
| 2 | Fidelity Investments | $302,425 |
| 3 | Empower | $63,575 |
| 4 | Transamerica | $55,995 |
| 5 | Corebridge Retirement Services* | $53,781 |
| 6 | Voya Financial | $52,829 |
| 7 | Lincoln Financial Group | $42,572 |
| 8 | Vanguard | $37,443 |
| 9 | Equitable | $29,624 |
| 10 | Ascensus | $21,976 |
| Top 10, by 403(b) ERISA Plans | ||
|---|---|---|
| 1 | Nationwide Financial | 8,098 |
| 2 | Ascensus | 3,293 |
| 3 | Vanguard | 2,619 |
| 4 | Empower | 2,401 |
| 5 | OneAmerica | 1,982 |
| 6 | Principal Financial Group | 1,930 |
| 7 | Corebridge Retirement Services* | 1,730 |
| 8 | Voya Financial | 1,609 |
| 9 | CUNA Mutual Group | 424 |
| 10 | Transamerica | 382 |
| Top 10, by 403(b) Non-ERISA Plans | ||
|---|---|---|
| 1 | Voya Financial | 18,093 |
| 2 | Corebridge Retirement Services* | 15,495 |
| 3 | Equitable | 15,490 |
| 4 | Ascensus | 10,430 |
| 5 | Vanguard | 9,172 |
| 6 | Empower | 4,595 |
| 7 | PlanMember Financial Corporation | 3,569 |
| 8 | OneAmerica | 2,886 |
| 9 | GuideStone Financial Resources | 1,864 |
| 10 | Transamerica | 262 |
| Top 10, by Total 457 Plan Assets ($MM) | ||
|---|---|---|
| 1 | Voya Financial | $135,716 |
| 2 | Empower | $128,529 |
| 3 | Nationwide | $100,799 |
| 4 | MissionSquare Retirement (formerly ICMA-RC) | $44,628 |
| 5 | Fidelity Investments | $30,058 |
| 6 | TIAA | $10,981 |
| 7 | Corebridge Retirement Services* | $9,928 |
| 8 | T. Rowe Price | $5,820 |
| 9 | Lincoln Financial Group | $5,693 |
| 10 | Ameritas | $4,075 |
| Top 10, by Governmental 457(b) Plans | ||
|---|---|---|
| 1 | Nationwide Financial | 7,021 |
| 2 | Voya Financial | 5,278 |
| 3 | MissionSquare Retirement (formerly ICMA-RC) | 4,649 |
| 4 | Empower | 2,895 |
| 5 | Equitable | 2,652 |
| 6 | Corebridge Retirement Services* | 1,928 |
| 7 | OneAmerica | 862 |
| 8 | Fidelity Investments | 389 |
| 9 | Ascensus | 337 |
| 10 | Ameritas | 214 |
| Top 10, by Nongovernmental 457 Plans | ||
|---|---|---|
| 1 | Corebridge Retirement Services* | 2,381 |
| 2 | CUNA Mutual Group | 927 |
| 3 | Principal Financial Group | 849 |
| 4 | Empower | 666 |
| 5 | Fidelity Investments | 424 |
| 6 | Voya Financial | 423 |
| 7 | Transamerica | 204 |
| 8 | Ascensus | 186 |
| 9 | T. Rowe Price | 33 |
| 10 | EPIC Retirement Plan Services | 29 |
| Top 10, by Total NQDC Participants | ||
|---|---|---|
| 1 | Fidelity Investments | 234,618 |
| 2 | Ascensus | 135,217 |
| 3 | Empower | 88,258 |
| 4 | Transamerica | 74,376 |
| 5 | Principal Financial Group | 64,237 |
| 6 | Bank of America Corporation | 32,908 |
| 7 | Alight | 28,518 |
| 8 | Voya Financial | 20,547 |
| 9 | Lincoln Financial Group | 18,256 |
| 10 | Vanguard | 12,511 |
| Top 10, by Total 409A NQDC Liabilities ($MM) | ||
|---|---|---|
| 1 | Fidelity Investments | $56,026 |
| 2 | Ascensus | $48,407 |
| 3 | Principal Financial Group | $13,276 |
| 4 | Bank of America Corporation | $10,487 |
| 5 | Vanguard | $7,321 |
| 6 | Schwab Retirement Plan Services, Inc. | $4,914 |
| 7 | NFP | $4,445 |
| 8 | Voya Financial | $4,136 |
| 9 | The Pangburn Group | $3,265 |
| 10 | T. Rowe Price | $2,848 |
Bottom part for Rantings
--Walgreens announced Wednesday the launch of its Student Loan 401(k) Match Program—a benefit for student loan borrowers made available for employers to implement by the SECURE 2.0 Act of 2022.
The new benefit will be available to Walgreens employees in January 2025 and will allow participants to qualify for company 401(k) match contributions as they pay down their student loans.