2018 Defined Contribution Survey: Recordkeepers Small Market - B Plan Assets >$25mm - $50mm Best in Class A t a glance, the Small Market - B might seem to be just an extension of the neighboring " Small - A, " given the overlap in names, while similarities also exist among qualifying providers and in net recommendation rates-i.e., 63.3% vs. 64.3%. But a closer look at underlying sponsor satisfaction shows that some recordkeepers might be coming up short when measured against the continued rise in sponsor expectations. Best in Class awards in this market were dominated by five providers who collectively received 83% of the total given. Account teams remain the cornerstone of exceptional service as, on average, three in four respondents (73%) were extremely satisfied with their provider's industry knowledge, responsiveness and regulatory/compliance support. On the other hand, satisfaction with plan administration services dropped materially-between 9% and 18% in each Top Providers By net recommendation/ promoter score 1 Bank of America Merrill Lynch 87.5% 2 Ascensus 85.2% 3 Charles Schwab 82.6% 4 Empower Retirement 78.3% 5 Newport Group 76.0% = Best in Class Award = Service Commendation l = Received too few ratings in category and was thus ineligible for recognition u = The score was in the top quartile of all scores for that area Survey Respondent Comments " The high touch [participant] facing service was a key determinant of our choice to go with this recordkeeper. " " Continue ... to reduce the rate at which relationship managers and administrative support personnel change. " " I don't know if it's our system or theirs, but we have a terrible time with feeding information back and forth. " 32 PLANSPONSOR.com December 2018-January 2019 Minimum of 20 responses; Best in Class benchmark of 60% Plan Administration Ascensus 27 Bank of America Merrill Lynch Charles Schwab Empower Retirement John Hancock Retirement Plan Svcs Newport Group OneAmerica The Standard Transamerica VALIC Voya Financial 24 24 23 21 25 27 22 20 21 22 85% u 88% u 83% u 78% 48% 76% 63% 50% 25% 43% 71% l 77% u 72% 77% u 77% u 47% 68% 59% 49% 45% 60% 52% # Responses Recommendation likelihood Plan transaction processing Loan/Withdrawal processing Beneficiary administration Plan design flexibility Payroll integration % " Completely satisfied "http://www.plansponsordigital.com/plansponsor/december_2018-january_2019/TrackLink.action?pageName=32&exitLink=http%3A%2F%2FPLANSPONSOR.com