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Reader Poll: Small Plans That Changed Record Keepers in the Past Year

In last week’s Reader Poll we asked, "Among 401(k) plans with under $5MM in assets, what percentage changed record keepers in the past year?" Here are the results of the voting, expressed in percentages:

5% of plans: 24%
10% of plans: 19%
15% of plans: 17%
20% of plans: 36%
Other: 5%

According to data collected in the 2013 DCP Under $5MM Plan Sponsor Study by Boston Research Group, 11% changed record keepers in the past 12 months. This compares to only 5% among plans with over $5MM, says BRG’s Warren Cormier.

This week’s Reader Poll is: “What is the median number of years plan sponsors with less than $5MM in assets have been with their current record keeper?” It can be found at the bottom of the right column of any page on the portal. On mobile devices, scroll all the way to the bottom. (Speaking of mobile devices, a reminder to use your device’s browser to bookmark the NAPA Net home page. This will create an icon on your device’s home page.)

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