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
Minimum of 20 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

Ascensus3351.5% 33.3%
Empower2365.2% ◆17.4%
Nationwide Financial4926.5% 8.2%
Principal Financial Group2653.8% 8.7%
The Standard2676.9% ◆23.1%
T. Rowe Price3154.8% 16.1%
Voya Financial2350.0% 34.8%

Plan administration

Plan design flexibility

Systems integration

% “Completely satisfied”

Ascensus67.7%
Empower71.6%
Nationwide Financial59.3%
Principal Financial Group72.0%
The Standard80.6% ◆
T. Rowe Price58.6%
Voya Financial75.4% ◆

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 61.8%
Empower 63.5%
Nationwide Financial 53.4%
Principal Financial Group 56.4%
The Standard 71.9% ◆
T. Rowe Price 53.4%
Voya Financial 69.7% ◆

Website, reporting
and tools

Account/Client service teams

% “Completely satisfied”

Ascensus72.3%
Empower75.6% ◆
Nationwide Financial53.4%
Principal Financial Group66.7%
The Standard80.4% ◆
T. Rowe Price58.1%
Voya Financial65.9%

Investment options

Fee value and transparency

% “Completely satisfied”

Ascensus67.7% ◆
Empower68.2% ◆
Nationwide Financial48.9%
Principal Financial Group51.0%
The Standard76.9% ◆
T. Rowe Price54.1%
Voya Financial61.9%

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