PLANSPONSOR - December/January 2021 - 24

2020 PLANSPONSOR BEST IN CLASS DC PROVIDERS
SMALL MARKET - A: PLAN ASSETS $5mm - $25mm
THE SMALL MARKET - A grouping continues to be home to
the largest collection of providers (14) found in the survey.
Historically, this market has featured a blend of both smaller and
larger providers, thus offering some comparison of the service
models, but the 2020 list is dominated by larger recordkeepers
and only three providers failed to make the top 25.
As with micro plans, transaction processing has become
commoditized, with all providers receiving Best in Class recognition.
But other areas of administration-e.g., plan design flexibility,
beneficiary administration, and payroll integration-present
opportunities for differentiation; these areas likely become more
important as plans grow and start encountering more complexity.
The competitive nature of this market requires providers
to deliver high levels of customer service and support, which
matches results in this year's survey. Service teams and support
was the highest area of service among Small Market - A respondents,
with 11 of 14 providers receiving Best in Class recognition
in all four of the related subcategories. Satisfaction with participant
services/education remains lower than other areas but did
increase from 2019.
Top 5 Small Market - A Providers
By Net Recommendation/Promoter Score
1 Ascensus
2 Securian Financial
3 Charles Schwab
4 OneAmerica
5 Empower Retirement
Service Satisfaction for Top 5 Providers,
By Net Recommendation/Promoter Score*
= Best in Class
Participant Services
1 AIG Retirement Services
2 Ascensus
3 Securian Financial
4 Charles Schwab
5 T. Rowe Price
Plan Sponsor Services
1 Ascensus
2 Charles Schwab
3 Securian Financial
4 Newport
5 Empower Retirement
94.3%
93.8%
86.4%
81.4%
78.0%
Small Market - A Net Recommendation Rate, 2016 - 2020
74.6%
64.7%
2016
61.9%
2017
Service Teams and Support
1 Ascensus
2 Charles Schwab
3 Securian Financial
4 Newport
5 AIG Retirement Services
Plan Administration
1 Charles Schwab
2 Securian Financial
3 Ascensus
4 OneAmerica
64.3%
63.8%
2018
2019
2020
Other providers and their recommendation percentage listed in
this market: AIG Retirement Services (71.4%); CUNA Mutual
Retirement Solutions (64.0%); John Hancock (65.2%); Newport
(70.4%); Principal Financial Group (54.5%); The Standard (73.2%);
T. Rowe Price (75.7%); Voya Financial (64.2%)
*For an explanation, please see " Net Promoter Score, " page 18.
24 PLANSPONSOR.COM December 2020 - January 2021
5 AIG Retirement Services
Investments and Fees
1 Ascensus
2 Securian Financial
3 Charles Schwab
4 AIG Retirement Services
5 T. Rowe Price
% ≥9 out of 10 # of s
81.0%
74.4%
68.8%
68.2%
68.1%
5
3
3
3
3
% ≥9 out of 10 # of s
88.6%
88.1%
86.2%
82.1%
76.9%
3
3
3
3
3
% ≥9 out of 10 # of s
4
4
4
4
4
97.3%
89.9%
89.4%
89.2%
86.0%
% ≥9 out of 10 # of s
91.9%
91.4%
90.4%
81.3%
77.4%
6
6
6
5
6
% ≥9 out of 10 # of s
4
4
4
1
4
86.9%
85.9%
82.6%
80.4%
75.9%
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PLANSPONSOR - December/January 2021

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