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Data & Research September 25, 2026
Recordkeeper Data on PEP Adoption
Three dozen recordkeepers give insights into their strategies with pooled employer plans.
Reported by
Edward Rueda
Since pooled employer plans were introduced to the market five years ago, they have been a steadily growing section of the defined contribution plan industry. The 2026 PLANSPONSOR Recordkeeping Survey, published by PLANSPONSOR, the sister publication of PLANADVISER, found there were 10,797 adopting employers participating in 401(k) or 403(b) PEPs as of year-end 2025, compared with 7,454 one year earlier, representing a 44.8% year-over-year increase.
The 330 surveyed PEPs had a total of $33.78 billion in assets as of year-end 2025—more than double the amount respondents reported at year-end 2024 and more than three times the total PEP assets reported to the Department of Labor in 2023.
The 2026 survey also found that PEPs are becoming a more common part of recordkeepers’ businesses, with 60% of respondents saying they recordkept a PEP during the previous year, and 55.6% serving as a pooled plan provider. Another 16.7% said they may consider becoming a PPP.
Did Your Firm Recordkeep PEPs Last Year?
- Yes
- No
Source: 2026 PLANSPONSOR Recordkeeping Survey
The survey found 401(k) PEPs have far more participants than 403(b) PEPs—1.18 million participants, compared with 7,335—and the lion’s share of assets, with 403(b) PEPs only reporting $372 million.
Total PEP assets are still overshadowed by assets in multiple-employer 401(k) plans ($125.65 billion); single-employer 403(b) plans ($1.697 trillion), and single-employer 401(k) plans ($9.682 trillion).
