PLANSPONSOR - September - October 2023 - 23
Defined Benefit Administration Industry Snapshot
Total DB
admin clients
3,574
Total DB plans
11,348
80%
Total DB
participants
22,187,492
Estimated DB assets
$789.2b
DB Plan Administration, by Plan Type
Traditional
Cash balance
Other
16%
4%
DB Plan Clients, by Bundle Arrangement
Single-DB-plan clients
DB and DC plan clients
30%
25%
Multiple-DB-plan clients 20%
Other DB bundles
25%
DB Plans, by Plan Status
Frozen
43%
Active/Open
Closed
Terminated
34%
22%
Methodology
1%
DB Plan Participants, by Work Status
Retired
41%
Active/Employed
Separated
33%
26%
The 2023 PLANSPONSOR Defined Benefit Administration Survey
was fielded to providers of DB plan administrative services. The
survey results present the experience/capabilities of 16 providers that
offer full outsourcing and co-sourcing services to U.S. defined benefit
plans. We report on the overall defined benefit industry by examining
the total number of, respectively: DB plans administered, plan participants,
and plans' estimated assets. We also report on DB plans by
funded status, as well as plan participants by work status. All data is as
of December 31, 2022. To participate in the 2024 DB Administration
Survey, please email surveys@issmediasolutions.com.
You can find the following provider profiles online
at plansponsor.com/research/2023DBAdmin.
Alight
Aon Consulting
Bank of America
CBIZ, Inc.
Conduent HR Services, LLC
CUNA Mutual Group
Fidelity Investments
John Hancock
Milliman, Inc.
October Three Consulting
Principal Financial Group
Schwab Retirement Plan
Services, Inc.
Transamerica Retirement
Solutions LLC
T. Rowe Price
USI Consulting Group
WTW
10 - 99 participants
100 - 999 participants
17%
26%
1,000 - 4,999 participants 15%
≥5,000 participants
17%
Industries Offering Cash Balance Plans*
Law firms
Utilities
26%
19%
Oil and gas/Energy
Telecom
Health care - for profit
All other industries
15%
7%
7%
26%
*Data is from the 2022 PLANSPONSOR Industry Reports.
Cash Balance Plans, by # of Participants
<10 participants
25%
PLANSPONSOR.COM September - October 2023 23
http://www.plansponsor.com/research/2023DBAdmin
http://www.PLANSPONSOR.COM
PLANSPONSOR - September - October 2023
Table of Contents for the Digital Edition of PLANSPONSOR - September - October 2023
INSIGHTS
PARTICIPANT ANALYSIS
RULES & REGULATIONS
UPFRONT
Building Strength
2023 Defined Benefit Administration Survey
2023 Best in Class 401(k) Plans
If the Goal Is Engagement
Upgrading NQDC Plans
When to Amend?
PRTs’ New Notoriety
Continuous Improvement
PLANSPONSOR - September - October 2023 - Cover1
PLANSPONSOR - September - October 2023 - FC1
PLANSPONSOR - September - October 2023 - FC2
PLANSPONSOR - September - October 2023 - Cover2
PLANSPONSOR - September - October 2023 - 1
PLANSPONSOR - September - October 2023 - INSIGHTS
PLANSPONSOR - September - October 2023 - 3
PLANSPONSOR - September - October 2023 - PARTICIPANT ANALYSIS
PLANSPONSOR - September - October 2023 - 5
PLANSPONSOR - September - October 2023 - RULES & REGULATIONS
PLANSPONSOR - September - October 2023 - 7
PLANSPONSOR - September - October 2023 - 8
PLANSPONSOR - September - October 2023 - 9
PLANSPONSOR - September - October 2023 - UPFRONT
PLANSPONSOR - September - October 2023 - 11
PLANSPONSOR - September - October 2023 - 12
PLANSPONSOR - September - October 2023 - 13
PLANSPONSOR - September - October 2023 - 14
PLANSPONSOR - September - October 2023 - 15
PLANSPONSOR - September - October 2023 - Building Strength
PLANSPONSOR - September - October 2023 - 17
PLANSPONSOR - September - October 2023 - 18
PLANSPONSOR - September - October 2023 - 19
PLANSPONSOR - September - October 2023 - 2023 Defined Benefit Administration Survey
PLANSPONSOR - September - October 2023 - 21
PLANSPONSOR - September - October 2023 - 22
PLANSPONSOR - September - October 2023 - 23
PLANSPONSOR - September - October 2023 - 2023 Best in Class 401(k) Plans
PLANSPONSOR - September - October 2023 - 25
PLANSPONSOR - September - October 2023 - 26
PLANSPONSOR - September - October 2023 - 27
PLANSPONSOR - September - October 2023 - 28
PLANSPONSOR - September - October 2023 - 29
PLANSPONSOR - September - October 2023 - 30
PLANSPONSOR - September - October 2023 - 31
PLANSPONSOR - September - October 2023 - If the Goal Is Engagement
PLANSPONSOR - September - October 2023 - 33
PLANSPONSOR - September - October 2023 - 34
PLANSPONSOR - September - October 2023 - 35
PLANSPONSOR - September - October 2023 - Upgrading NQDC Plans
PLANSPONSOR - September - October 2023 - 37
PLANSPONSOR - September - October 2023 - When to Amend?
PLANSPONSOR - September - October 2023 - PRTs’ New Notoriety
PLANSPONSOR - September - October 2023 - Continuous Improvement
PLANSPONSOR - September - October 2023 - Cover3
PLANSPONSOR - September - October 2023 - Cover4
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