Type of service provided

Years offering full-service 401(k) plans

21

22

23

Number of full-service plans

2,126

1,565

4,319

Fewer than 100 employees

711

765

2,808

100-999 employees

962

699

1,401

1,000-4,999 employees

355

77

90

5,000 or more employees

98

24

20

Full-service customers using daily valuation

100%

85%

60%

Full-service customers using voice response unit

100%

85%

90%

Full-service customers using prototype plan document

38%

75%

95%

Full-service customers using testing services

60%

75%

75%

Full-service customers using regulatory filing services

45%

40%

75%

Full-service customers using recordkeeping services

100%

90%

100%

Full-service customers using education to comply with 404(c)

100%

40%

60%

Can sponsors choose number and frequency of fund changes?

Yes

Yes

Yes

Fewer than 100 employees

Internal

Recordkeeping Alliance

Internal

100-999 employees

Internal

Internal

Internal

1,000-4,999 employees

Internal

Internal

Internal

5,000 or more employees

Internal

Internal

Internal

Internally managed

$61.52 billion

$5.14 billion

$17.4 billion

Externally managed

$32.61 billion

$7.56 billion

$15.1 billion

Total

$94.13 billion

$12.7 billion

$32.5 billion

Number of participants in full-service plans

2,521,348

485,375

1,033,441

At year-end 2002

2,126

1,565

4,319

At year-end 2001

2,065

1,514

5,195

At year-end 2000

2,024

1,462

4,700

Converted in 2002

113

360

300

Internally managed

41

116

84

Externally managed

30

450

Unlimited

Self-directed brokerage available to full-service plans?

Yes

Yes

Yes

Average asset-allocation rates

Stable value 24.5%, fixed income 7.6%, equity 39.6%, self-dir. 0.1%, co. stock 15.1%, other 13%

Stable value 35%, fixed income 13%, equity 40%, self-dir. 4%, co. stock 8%

Stable value 30%, fixed income 5%, equity 50%, self-dir. 1%, co. stock 10%, other 4%

Average participation rate

76%

74%

78%

Average deferral rate

8.22%

7%

6%

Geographic coverage

All 50 states, DC

All 50 states, DC

All 50 states, DC

Online statements

Yes

Yes

Yes

Account changes

Yes

Yes

Yes

Tools and calculators

Yes

Yes

Yes

Sponsor site

Yes

Yes

Yes

Custom plan design

Yes

Yes

Yes

1:1 enrollment

Yes

Yes

Yes

Online enrollment

Yes

Yes

Yes

Automatic enrollment

Yes

Yes

Yes

Education software

Yes

Yes

Yes

Education videos

Yes

Yes

Yes

Seminars

Yes

Yes

Yes

In-person classes

Yes

Yes

Yes

Newsletters

Yes

Yes

Yes

Years offering investment-only services to 401(k) plans

21

23

—

Number of investment-only plans

5,274

455

—

Percentage of investment-only assets subadvised externally

22%

<25%

—

Minimum asset size

No minimum

$1M (for any one asset class)

—

Average plan asset size

$27.97 million

$79 million

—

Investment-only assets Internally managed

$27.3 billion

$3.3 billion

—

Externally managed

$9.6 billion

0

—

Total

$36.9 billion

$3.3 billion

—

Investment results

Yes

Yes, for most plans

—

Market commentary

Yes

Yes

—

Will provider comply with investment-policy statement?

Yes

Yes

—

Classes of securities managed for 401(k) plans

Investor, institutional

All asset classes

—

Investment styles offered

Money market, passively & actively managed equity, passively & actively managed balanced, passively & actively managed bond

All investment styles, major asset classes

—

Primary investment style

Active & indexed funds

All investment styles, major asset classes

—

Frequency of market commentary

Weekly; in-depth analysis quarterly; quarterly e-meetings for institutional audience

Quarterly, typically

—

Frequency of investment-results discussions

Quarterly; ongoing fund mgr. interviews, Q&As

Quarterly, typically

—

Years offering recordkeeping-only services to 401(k) plans

—

—

—

Number of recordkeeping-only plans

—

—

—

Fewer than 100 employees

—

—

—

100-999 employees

—

—

—

1,000-4,999 employees

—

—

—

5,000 or more employees

—

—

—

Recordkeeping-only customers using daily valuation

—

—

—

Recordkeeping-only customers using voice response unit

—

—

—

Can sponsors choose number and frequency of fund changes?

—

—

—

Fewer than 100 employees

—

—

—

100-999 employees

—

—

—

1,000-4,999 employees

—

—

—

5,000 or more employees

—

—

—

Number of participants in recordkeeping-only plans

—

—

—

At year-end 2002

—

—

—

At year-end 2001

—

—

—

At year-end 2000

—

—

—

Converted in 2002

—

—

—

Externally managed

—

—

—

Self-directed brokerage available to recordkeeping-only plans?

—

—

—

Average participation rate in recordkeeping-only plans

—

—

—

Average deferral rate in recordkeeping-only plans

—

—

—

Geographic coverage

—

—

—

Online statements

—

—

—

Account changes

—

—

—

Tools and calculators

—

—

—

Sponsor site

—

—

—

Custom plan design

—

—

—

1:1 enrollment

—

—

—

Online enrollment

—

—

—

Automatic enrollment

—

—

—

Education software

—

—

—

Education videos

—

—

—

Seminars

—

—

—

In-person classes

—

—

—

Newsletters

—

—

—