Top-Rated Defined Contribution Plan Providers
Top-Rated Defined Contribution Plan Providers
Overall Service, Micro Plans (<$5mm) |
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1) John Hancock Retirement Plan Services | 20.0% |
2) Ascensus | 11.4% |
3) Capital Group, home of the American Funds | 8.6% |
4) Principal Financial Group | 7.1% |
5) ADP Retirement Services | 5.7% |
5) Empower Retirement | 5.7% |
5) T. Rowe Price | 5.7% |
Overall Service, Small Plans ($5mm – $50mm) |
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1) Voya Financial | 15.9% |
2) Empower Retirement | 14.5% |
3) Fidelity Investments | 13.0% |
4) John Hancock Retirement Plan Services | 10.1% |
4) Principal Financial Group | 10.1% |
Overall Service, Midsize Plans (>$50mm – $200mm) |
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1) Fidelity Investments | 35.7% |
2) Empower Retirement | 16.1% |
2) Principal Financial Group | 16.1% |
4) Transamerica Retirement Solutions | 5.4% |
4) Voya Financial | 5.4% |
Overall Service, Large Plans (>$200mm – $1b) |
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1) Fidelity Investments | 43.6% |
2) Empower Retirement | 15.4% |
2) Principal Financial Group | 15.4% |
4) Ameritas | 5.1% |
4) J.P. Morgan Asset Management | 5.1% |
4) T. Rowe Price | 5.1% |
Overall Service, Mega Plans (>$1b) |
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1) Fidelity Investments | 48.5% |
2) Principal Financial Group | 18.2% |
3) Empower Retirement | 15.2% |
4) Ameritas | 6.1% |
5) ADP Retirement Services | 3.0% |
5) Bank of America | 3.0% |
5) Nationwide Financial | 3.0% |
5) T. Rowe Price | 3.0% |
Participant Call Centers and Phone Support |
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1) Fidelity Investments | 20.5% |
2) Empower Retirement | 17.8% |
3) Principal Financial Group | 11.0% |
4) John Hancock Retirement Plan Services | 8.2% |
5) Capital Group, home of the American Funds | 6.8% |
5) Voya Financial | 6.8% |
Participant Website and Online Tools |
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1) Empower Retirement | 27.8% |
2) Fidelity Investments | 20.8% |
3) Principal Financial Group | 13.9% |
4) Voya Financial | 6.9% |
5) John Hancock Retirement Plan Services | 5.6% |
Participant Mobile Apps |
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1) Fidelity Investments | 27.9% |
2) Empower Retirement | 25.0% |
3) Principal Financial Group | 16.2% |
4) John Hancock Retirement Plan Services | 7.4% |
4) Voya Financial | 7.4% |
Participant Statements |
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1) Fidelity Investments | 25.0% |
2) Principal Financial Group | 14.3% |
3) Empower Retirement | 12.5% |
4) John Hancock Retirement Plan Services | 8.9% |
5) Voya Financial | 7.1% |
Participant Enrollment Materials, Support and Processing |
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1) Fidelity Investments | 16.1% |
1) John Hancock Retirement Plan Services | 16.1% |
3) Empower Retirement | 12.9% |
4) Principal Financial Group | 11.3% |
5) Voya Financial | 8.1% |
Participant Financial Education and Wellness Resources |
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1) Fidelity Investments | 25.4% |
2) Principal Financial Group | 19.0% |
3) Empower Retirement | 14.3% |
4) John Hancock Retirement Plan Services | 12.7% |
5) Capital Group, home of the American Funds | 4.8% |
5) Voya Financial | 4.8% |
Plan Sponsor Website, Analytics and Reporting |
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1) Empower Retirement | 31.0% |
2) Fidelity Investments | 18.3% |
3) Principal Financial Group | 11.3% |
4) Capital Group, home of the American Funds | 5.6% |
4) John Hancock Retirement Plan Services | 5.6% |
Regulatory and Compliance Support and Services |
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1) Fidelity Investments | 20.0% |
2) Empower Retirement | 18.5% |
3) Principal Financial Group | 12.3% |
4) John Hancock Retirement Plan Services | 9.2% |
5) ADP Retirement Services | 4.6% |
5) Voya Financial | 4.6% |
Quality and Consistency of Client Service Teams |
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1) Fidelity Investments | 18.8% |
2) Empower Retirement | 15.9% |
3) Principal Financial Group | 10.1% |
4) John Hancock Retirement Plan Services | 8.7% |
4) Voya Financial | 8.7% |
Service to MEPs and PEPs* |
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1) Transamerica Retirement Solutions | 18.4% |
2) Empower Retirement | 15.8% |
3) Principal Financial Group | 10.5% |
4) Ascensus | 7.9% |
5) ADP Retirement Services | 5.3% |
5) Ameritas | 5.3% |
5) The Standard | 5.3% |
5) Voya Financial | 5.3% |
Value for Price of Recordkeeping Services |
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1) Empower Retirement | 20.8% |
2) Fidelity Investments | 11.1% |
3) Capital Group, home of the American Funds | 8.3% |
3) Principal Financial Group | 8.3% |
5) Vanguard | 6.9% |
5) Voya Financial | 6.9% |
Fee Clarity, Accounting, Disclosure and Benchmarking |
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1) Fidelity Investments | 22.1% |
2) Empower Retirement | 11.8% |
3) Principal Financial Group | 8.8% |
4) John Hancock Retirement Plan Services | 7.4% |
5) ADP Retirement Services | 5.9% |
5) Voya Financial | 5.9% |
Plan Design Flexibility and Customization |
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1) Empower Retirement | 20.0% |
2) John Hancock Retirement Plan Services | 16.9% |
3) Fidelity Investments | 13.8% |
4) Principal Financial Group | 10.8% |
5) Transamerica Retirement Solutions | 6.2% |
5) Voya Financial | 6.2% |
Payroll Integration |
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1) Empower Retirement | 19.4% |
2) Fidelity Investments | 17.7% |
3) ADP Retirement Services | 11.3% |
4) Principal Financial Group | 9.7% |
4) Voya Financial | 9.7% |
Adviser Sales and Marketing Support |
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1) Fidelity Investments | 15.9% |
2) Empower Retirement | 12.7% |
2) John Hancock Retirement Plan Services | 12.7% |
4) Capital Group, home of the American Funds | 9.5% |
4) Principal Financial Group | 9.5% |
Fee Structure for Advisers |
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1) Empower Retirement | 15.3% |
1) Fidelity Investments | 15.3% |
1) Principal Financial Group | 15.3% |
4) Capital Group, home of the American Funds | 8.5% |
5) John Hancock Retirement Plan Services | 6.8% |
Web Tools and Functionality for Advisers |
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1) Fidelity Investments | 21.0% |
2) Empower Retirement | 19.4% |
3) Principal Financial Group | 12.9% |
4) John Hancock Retirement Plan Services | 8.1% |
5) Voya Financial | 6.5% |