Industry Data
DC Providers
Length of Relationship With Plan Recordkeeper

All Plans | <$1MM | $1MM–$5MM | |
---|---|---|---|
<1 year | 3% | 6% | 2% |
1 year to 3 years | 14% | 23% | 18% |
>3 years to 5 years | 15% | 17% | 18% |
>5 years to 7 years | 12% | 12% | 14% |
>7 years | 56% | 41% | 48% |
Unsure/Don’t know | 0% | 2% | 0% |
Frequency of Formal Review of Providers | |||
---|---|---|---|
All Plans | <$1MM | $1MM–$5MM | |
Annually | 64% | 56% | 69% |
Every 1 to 2 years | 9% | 9% | 7% |
Every >2 to 3 years | 9% | 6% | 5% |
Every >3 to 5 years | 6% | 3% | 4% |
Every >5 years | 2% | 2% | 1% |
Unsure/Don’t know | 10% | 25% | 14% |