SURVEY |

2024
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
Giulio Bonasera
Service Ratings
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Service Ratings

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Best in Class: Plan Assets $5MM – $25MM
Minimum of 15 responses; Best in Class benchmark of 70%

= Best in Class award.
= Service Commendation.
= Received too few ratings in category and was thus ineligible for recognitions.
◆ = The score was in the top quartile of all comparable scores for that area of service.

OVERALL

RECORDKEEPING PLATFORM

PARTICIPANT SERVICES

SPONSOR SERVICES AND SUPPORT

INVESTMENTS AND FEES

# Responses

Recommendation likelihood

% Service Star nominations

Ascensus5284.6% ◆56.9%
BOK Financial2161.9% ◆47.6%
Empower2250.0% 13.6%
Nationwide Financial3122.6% 16.1%
Schwab Retirement Plan Services, Inc.2487.5% ◆45.8%
The Standard2356.5% 17.4%
Transamerica1612.5% 12.5%
T. Rowe Price3357.6% 35.5%
Voya Financial5856.9% 36.8%

Plan administration

Plan design flexibility

Systems integration

% “Completely satisfied”

Ascensus83.6% ◆
BOK Financial66.7%
Empower66.7%
Nationwide Financial46.0%
Schwab Retirement Plan Services, Inc.83.1% ◆
The Standard66.2%
Transamerica44.4%
T. Rowe Price73.6% ◆
Voya Financial67.3%

Online/Mobile retirement
planning tools

Online/Mobile financial
wellness offerings

In-person/Virtual participant
support

Enrollment materials
and support

Print/Digital communications
and education

% “Completely satisfied”

Ascensus 72.7% ◆
BOK Financial 65.7% ◆
Empower 56.7%
Nationwide Financial 47.8%
Schwab Retirement Plan Services, Inc. 77.7% ◆
The Standard 61.9%
Transamerica 36.5%
T. Rowe Price 62.2%
Voya Financial 64.9%

Website, reporting
and tools

Account/Client service teams

% “Completely satisfied”

Ascensus84.6% ◆
BOK Financial76.2% ◆
Empower62.8%
Nationwide Financial58.5%
Schwab Retirement Plan Services, Inc.83.3% ◆
The Standard68.9%
Transamerica53.1%
T. Rowe Price70.3%
Voya Financial70.7%

Investment options

Fee value and transparency

% “Completely satisfied”

Ascensus85.3% ◆
BOK Financial81.0% ◆
Empower59.1%
Nationwide Financial42.3%
Schwab Retirement Plan Services, Inc.87.2% ◆
The Standard71.7%
Transamerica50.0%
T. Rowe Price74.2%
Voya Financial63.7%

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