Browse 18 providers in this category.
Provider ranking
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Empower
Plan Administrator • Pro Score 1.3
Greenwood Village, CO
Stats: 80,895 clients • $1.8T under management • 16.7M participants
Company: Est. 2014 • 6,000 employees
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Voya Financial
Plan Administrator • Pro Score 1.5
New York City, NY
Stats: 65,135 clients • $729.0B under management • 5 participants
Company: 9,000 employees
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Ascensus, LLC
Plan Administrator • Pro Score 1.7
Dresher, PA
Credentials: Other
Stats: 147,067 clients • $315.0B under management • 3.8M participants
Company: Est. 1980 • 5,600 employees
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Corebridge Financial
Plan Administrator • Pro Score 1.7
Houston, TX
Stats: 89,609 clients • $127.7B under management • 5.0M participants
Company: 2,000 employees
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Paychex
Plan Administrator • Pro Score 1.8
Rochester, NY
Stats: 124,000 clients • $55.7B under management • 1.6M participants
Company: Est. 1971 • 15,000 employees
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The Vanguard Group, Inc.
Plan Administrator • Pro Score 1.8
Malvern, PA
Stats: 1,400 clients • $523.0B under management
Company: Est. 1975 • 20,000 employees
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John Hancock
Plan Administrator • Pro Score 1.9
Boston, MA
Stats: 54,358 clients • $253.0B under management • 200K participants
Company: Est. 1863 • 4,000 employees
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TIAA
Plan Administrator • Pro Score 1.9
New York, NY
Stats: $600.0B under management
Company: Est. 1918
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ADP Retirement Services
Plan Administrator • Pro Score 2.0
Roseland, NJ
Credentials: Other
Stats: 135,642 clients • $158.8B under management • 3.9M participants
Pricing: $325 base fee • $5/employee
Company: Est. 1949
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Charles Schwab & Co., Inc.
Plan Administrator • Pro Score 2.1
Omaha, NE
Stats: 1,179 clients • $341.7B under management • 1.6M participants
Company: Est. 1971 • 4,200 employees
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Alight Solutions
Plan Administrator • Pro Score 2.4
Chicago, IL
Stats: 2,000 clients • $600.0B under management • 117.0M participants
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Fidelity Investments
Plan Administrator • Pro Score 2.4
Boston, MA
Stats: 37,255 clients • $4.4T under management • 44.2M participants
Pricing: $100 base fee • $8.33/employee
Company: Est. 1949 • 50,000 employees
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Nationwide Mutual Insurance Company
Plan Administrator • Pro Score 2.4
Columbus, OH
Stats: 15,241 clients • $235.8B under management • 2.1M participants
Company: Est. 1926 • 24,000 employees
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Principal Financial Group, Inc.
Plan Administrator • Pro Score 2.5
Des Moines, IA
Stats: 11,086 clients • $540.4B under management • 12.1M participants
Company: Est. 1879 • 20,000 employees
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Transamerica
Plan Administrator • Pro Score 2.5
Cedar Rapids, IA
Stats: $416.0B under management
Company: Est. 1946
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Slavic401k
Plan Administrator • Pro Score 2.8
Boca Raton, FL
Stats: 12,000 clients • $10M under management • 250K participants
Company: Est. 1986 • 270 employees
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Betterment at Work
Plan Administrator • Pro Score 3.0
New York, NY
Stats: 2,000 clients • $30M under management
Pricing: $100 base fee • $5/employee
Company: Est. 2009 • 466 employees
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Carry
Plan Administrator • Pro Score 3.0
Credentials: RIA - Registered Investment Advisor
Pricing: $299 base fee
Company: Est. 2022 • 10 employees
How to Identify and Avoid the Worst 401(k) Providers
Choosing the right retirement plan partner is critical for your company and your employees. Unfortunately, partnering with the worst 401(k) providers can lead to exorbitant hidden fees, ongoing compliance nightmares, and frustrated employees. At Plan Provider Pro, we are the best place to evaluate your current setup, avoid subpar vendors, and connect with industry-leading professionals who put your plan's success first.
Red Flags of a Bad 401(k) Provider
If you are evaluating your current retirement plan, watch out for these common warning signs that you might be working with a bottom-tier provider:
- Exorbitant or Hidden Fees: High administrative costs and poor investment selections eat away at your employees' hard-earned retirement savings. Regularly performing 401(k) fee benchmarking is essential to ensure you aren't overpaying.
- Poor Customer Service: If your HR team or participants cannot get accurate, timely answers, it’s a clear sign of a failing provider. Quality 401(k) recordkeepers prioritize responsive, dedicated support.
- Lack of Compliance Support: Failing to keep up with complex ERISA regulations can result in heavy fines. Subpar providers offer little to no help with non-discrimination testing, reporting, or audit preparation.
- Outdated Technology: A clunky user interface makes it difficult for participants to manage their accounts and access critical 401(k) participant education.
Ready to Make a Switch?
If your current vendor exhibits any of these red flags, it is time to take immediate action. Understanding the true cost of a 401(k) to a business can help you justify the move to a vastly superior platform. Upgrading your plan doesn't have to be an administrative headache. Read our comprehensive guide on changing 401(k) recordkeepers to learn how seamless and beneficial the transition process can be.
Find Top-Rated Retirement Professionals Today
Don't let the worst 401(k) providers jeopardize your company's financial wellness benefits or expose you to fiduciary risk. Plan Provider Pro is the premier destination for identifying the best 401(k) providers in the industry. Whether you need a transparent recordkeeper, a specialized 401(k) plan advisor, or a dedicated auditor, our authoritative directory connects you with the exact expertise you need to optimize your retirement plan today.