We took a look at the survey research reports from PlanSponsors.com and the companies who provide 401(k) plans. When it comes to running a business whether you’re small company of 1 person or large company of over 100, you do have many choices when selecting service providers for defined contribution plans. Businesses across America face many challenges from day to day operations to revenue stream and reviewing & monitoring retirement plans on a regular basis. Whether you have some, limited or no knowledge of what 401(k) providers are out there, as a plan sponsor (meaning you the employer) may not have the full comprehensive knowledge to understand how to compare 401(k) companies. Realistically speaking, 401(k) providers are not a one shoe fits all.

Why 401(k) providers are not a one shoe fits all solution?

When your company’s plan assets change due to the size, growth, market condition or contribution amount changes. It’s important for you (as a company) to understand the service level of the 401(k) provider for all those within your company putting money away into their retirement plan.

Our infographic based on data from PlanSponsor magazine conducts multiple surveys each year. Based on their annual recordkeeping survey for 2017 reviewed 55 top 401(k) providers that represent more than $6 trillion in assets and are estimated to account for 85{bc669dfb3651bb8509a96034cbe7494d3a811fc0eedf0ddccb239fb9cb737439} of the total defined contribution market.