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 >$1B
Minimum of 10 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

Empower1855.6% 22.2%
Fidelity Investments1353.8% 0.0%
Nationwide Financial1163.6% 36.4%
Schwab Retirement Plan Services, Inc.1894.4% ◆27.8%
Voya Financial1070.0% ◆10.0%

Plan administration

Plan design flexibility

Systems integration

% “Completely satisfied”

Empower50.9%
Fidelity Investments50.0%
Nationwide Financial71.0% ◆
Schwab Retirement Plan Services, Inc.86.5% ◆
Voya Financial53.6%

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”

Empower 48.2%
Fidelity Investments 55.4%
Nationwide Financial 83.6% ◆
Schwab Retirement Plan Services, Inc. 85.6% ◆
Voya Financial 62.2%

Website, reporting
and tools

Account/Client service teams

% “Completely satisfied”

Empower60.0%
Fidelity Investments46.2%
Nationwide Financial66.7% ◆
Schwab Retirement Plan Services, Inc.83.3% ◆
Voya Financial50.0%

Investment options

Fee value and transparency

% “Completely satisfied”

Empower47.8%
Fidelity Investments65.4%
Nationwide Financial81.3%
Schwab Retirement Plan Services, Inc.100.0% ◆
Voya Financial81.8% ◆

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