PLANSPONSOR - December/January 2020 - 19
RESEARCH | 2019 PLANSPONSOR BEST IN CLASS DC PROVIDERS
BRIGHTEST
BEST
AND THE
Which plan providers outshine the rest?
S
ometimes it was challenging to keep up with what seemed to be a constant stream of consolidations
and ownership changes within the recordkeeping industry, over the past decade. Such changes, of
course, are often a reflection of the dedication of the companies that were involved. It is important that
plan sponsors understand the various market dynamics-and the potential impact on their plan. After all,
they could wake up one day to find their plan has a new recordkeeper, by no choice of their own.
These mergers and acquisitions (M&As) have reshaped the industry-and our 2019 DC [Defined
Contribution] Best in Class (BIC) Providers list. For example, Principal Financial Group's recent acquisition
of Wells Fargo's retirement plan business, and the latter's disappearance as a player, shifted the Top 10 largest
recordkeepers list. How can plan sponsors prepare for such industry shifts and ensure they keep getting the
services that are crucial to their plan?
For many sponsors, understanding the marketplace can also be a challenge. Experts note the benefits
of having a retirement plan adviser or consultant to provide education and an industry context. Plan sponsor
fiduciaries should know where their recordkeeper sits in the competitive landscape and how that position
may affect their business.
Robert Massa, managing director at Qualified Plan Advisors in Houston, says, " As a plan sponsor's
business evolves, it's important that the sponsor understand what it wants to get out of the recordkeeper
relationship for both the company and the employees. Each recordkeeper will tell you it can do everything for
you-except the things it doesn't do. "
Based on findings of the 2019 PLANSPONSOR DC Survey, recordkeepers are looking more closely at their
overall value proposition, adopting a bigger-picture view of how they can help participants reach their retirement
goals. Many are providing customized services, based on what participants want. Being able to differentiate
Art by Byron Eggenschwiler
PLANSPONSOR.COM December 2019 - January 2020 19
THE
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PLANSPONSOR - December/January 2020
Table of Contents for the Digital Edition of PLANSPONSOR - December/January 2020
The Savings Hierarchy
2019 PLANSPONSOR Best in Class DC Providers
On Their Own Terms
HSA Investment Options
Steady as It Goes
The Employer Component
PLANSPONSOR - December/January 2020 - Cover1
PLANSPONSOR - December/January 2020 - Cover2
PLANSPONSOR - December/January 2020 - 1
PLANSPONSOR - December/January 2020 - 2
PLANSPONSOR - December/January 2020 - 3
PLANSPONSOR - December/January 2020 - 4
PLANSPONSOR - December/January 2020 - 5
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PLANSPONSOR - December/January 2020 - 12
PLANSPONSOR - December/January 2020 - 13
PLANSPONSOR - December/January 2020 - The Savings Hierarchy
PLANSPONSOR - December/January 2020 - 15
PLANSPONSOR - December/January 2020 - 16
PLANSPONSOR - December/January 2020 - 17
PLANSPONSOR - December/January 2020 - 2019 PLANSPONSOR Best in Class DC Providers
PLANSPONSOR - December/January 2020 - 19
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PLANSPONSOR - December/January 2020 - 21
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PLANSPONSOR - December/January 2020 - 29
PLANSPONSOR - December/January 2020 - 30
PLANSPONSOR - December/January 2020 - 31
PLANSPONSOR - December/January 2020 - On Their Own Terms
PLANSPONSOR - December/January 2020 - 33
PLANSPONSOR - December/January 2020 - 34
PLANSPONSOR - December/January 2020 - 35
PLANSPONSOR - December/January 2020 - 36
PLANSPONSOR - December/January 2020 - 37
PLANSPONSOR - December/January 2020 - HSA Investment Options
PLANSPONSOR - December/January 2020 - 39
PLANSPONSOR - December/January 2020 - Steady as It Goes
PLANSPONSOR - December/January 2020 - 41
PLANSPONSOR - December/January 2020 - The Employer Component
PLANSPONSOR - December/January 2020 - 43
PLANSPONSOR - December/January 2020 - 44
PLANSPONSOR - December/January 2020 - 45
PLANSPONSOR - December/January 2020 - 46
PLANSPONSOR - December/January 2020 - 47
PLANSPONSOR - December/January 2020 - 48
PLANSPONSOR - December/January 2020 - Cover3
PLANSPONSOR - December/January 2020 - Cover4
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