PLANSPONSOR - February/March 2018 - 44

2017 Defined Contribution Survey: Providers
Mega Market: Plan Assets >$1b
A
t first glance, the Mega Market,
plans with more than $1 billion in
assets, might seem comparable to other
markets-all providers were viewed as
Best in Class in at least one area, and net
recommendation rates of the Top 5 providers
were all above 50%. Consistent
with other markets, recordkeepers also
appear to be strengthening their offerings
in this market, as average net recommendation
rates grew by double digits for
two straight years before slipping back to
45.6% in 2017. However, it is undeniable
that the Mega Market presents unique
challenges for recordkeepers as sponsor
satisfaction is, on average, 15% lower than
in any other market in the survey.
Top 5 Providers
By Net Recommendation/
Promoter Score
1
TIAA
82%
2
Vanguard
61%
3
Charles Schwab
60%
4
Bank of America Merrill Lynch
54%
5
Nationwide
50%
2012
2013
2014
2015
2016
2017
Best in Class
Minimum of 10 responses; Best in Class benchmark of 40%
Plan Administration
Bank of America Merrill Lynch
Charles Schwab
Empower Retirement
Fidelity Investments
Nationwide
TIAA
Transamerica
Vanguard
Voya Financial
14
10
25
52
10
11
10
19
13
Faced with the need to monitor tens
of thousands of participants and millions
of transactions, mega-plan sponsors are
especially dependent on-and critical
of-technology and plan administration
services. Sponsor-oriented technologies
such as plan reporting and plan analytics/
benchmarking had net satisfaction ratings
near zero-the lowest scores anywhere in
54%
46% u
60% u
9%
37%
50%
82% u
20%
61% u
38%
56% u
30%
20%
25%
40% u
33%
28%
25%
the survey-meaning that about half of
respondents were dissatisfied with these
services. Satisfaction with transaction
processing/error reporting was roughly
half that of most other markets.
Only two areas-cost to value of plan
fees and on-site meetings/support-did
not show a material drop in scores when
compared with other markets.
Net Recommendation Rate 2012-2017
52.8%
37.9%
28.7%
28.1%
41.8%
45.6%
44 PLANSPONSOR.com February-March 2018
# Responses
Recommendation likelihood
Plan transaction processing
Loan/Withdrawal processing
Beneficiary administration
Plan design flexibility
Payroll integration
% " Completely satisfied "

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PLANSPONSOR - February/March 2018

Table of Contents for the Digital Edition of PLANSPONSOR - February/March 2018

25 Years of Retirement Plans
2017 DC Survey: Providers
2018 Best In Class 401(k) Plans
Trends in Risk Assets
What Lower Fees Reveal
Sandwiched Between
Nondiscrimination Testing
PLANSPONSOR - February/March 2018 - Cover1
PLANSPONSOR - February/March 2018 - Cover2
PLANSPONSOR - February/March 2018 - 1
PLANSPONSOR - February/March 2018 - 2
PLANSPONSOR - February/March 2018 - 3
PLANSPONSOR - February/March 2018 - 4
PLANSPONSOR - February/March 2018 - 5
PLANSPONSOR - February/March 2018 - 6
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PLANSPONSOR - February/March 2018 - 13
PLANSPONSOR - February/March 2018 - 14
PLANSPONSOR - February/March 2018 - 15
PLANSPONSOR - February/March 2018 - 25 Years of Retirement Plans
PLANSPONSOR - February/March 2018 - 17
PLANSPONSOR - February/March 2018 - 18
PLANSPONSOR - February/March 2018 - 19
PLANSPONSOR - February/March 2018 - 20
PLANSPONSOR - February/March 2018 - 21
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PLANSPONSOR - February/March 2018 - 27
PLANSPONSOR - February/March 2018 - 28
PLANSPONSOR - February/March 2018 - 29
PLANSPONSOR - February/March 2018 - 2017 DC Survey: Providers
PLANSPONSOR - February/March 2018 - 31
PLANSPONSOR - February/March 2018 - 32
PLANSPONSOR - February/March 2018 - 33
PLANSPONSOR - February/March 2018 - 34
PLANSPONSOR - February/March 2018 - 35
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PLANSPONSOR - February/March 2018 - 42
PLANSPONSOR - February/March 2018 - 43
PLANSPONSOR - February/March 2018 - 44
PLANSPONSOR - February/March 2018 - 45
PLANSPONSOR - February/March 2018 - 2018 Best In Class 401(k) Plans
PLANSPONSOR - February/March 2018 - 47
PLANSPONSOR - February/March 2018 - 48
PLANSPONSOR - February/March 2018 - 49
PLANSPONSOR - February/March 2018 - 50
PLANSPONSOR - February/March 2018 - 51
PLANSPONSOR - February/March 2018 - 52
PLANSPONSOR - February/March 2018 - 53
PLANSPONSOR - February/March 2018 - Trends in Risk Assets
PLANSPONSOR - February/March 2018 - 55
PLANSPONSOR - February/March 2018 - What Lower Fees Reveal
PLANSPONSOR - February/March 2018 - 57
PLANSPONSOR - February/March 2018 - Sandwiched Between
PLANSPONSOR - February/March 2018 - 59
PLANSPONSOR - February/March 2018 - Nondiscrimination Testing
PLANSPONSOR - February/March 2018 - 61
PLANSPONSOR - February/March 2018 - 62
PLANSPONSOR - February/March 2018 - 63
PLANSPONSOR - February/March 2018 - 64
PLANSPONSOR - February/March 2018 - Cover3
PLANSPONSOR - February/March 2018 - Cover4
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