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 >$25MM – $50MM
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

Ascensus3357.6% 46.9%
Empower1952.6% 21.1%
Schwab Retirement Plan Services, Inc.1877.8% ◆27.8%
The Standard1573.3% 53.3%
Voya Financial1586.7% ◆60.0%

Plan administration

Plan design flexibility

Systems integration

% “Completely satisfied”

Ascensus73.1%
Empower71.9%
Schwab Retirement Plan Services, Inc.81.5% ◆
The Standard72.1%
Voya Financial78.6% ◆

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”

Ascensus 58.7%
Empower 60.6%
Schwab Retirement Plan Services, Inc. 69.5%
The Standard 77.1% ◆
Voya Financial 85.1% ◆

Website, reporting
and tools

Account/Client service teams

% “Completely satisfied”

Ascensus87.7% ◆
Empower68.4%
Schwab Retirement Plan Services, Inc.80.6% ◆
The Standard80.0%
Voya Financial70.0%

Investment options

Fee value and transparency

% “Completely satisfied”

Ascensus79.0% ◆
Empower78.4%
Schwab Retirement Plan Services, Inc.82.4% ◆
The Standard63.3%
Voya Financial72.0%

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