Browse the Provider Directory
|
|
| Provider |
Manulife Financial
Boston
(877) 346-8378
|
Marshall & Ilsley Trust
Milwaukee
(800) 342-2265
|
MassMutual Financial Group
Springfield, MA
(800) 228-2479
|
Merrill Lynch
Pennington, NJ
(609) 274-6357 |
| Type of service provided |
Full service |
Full
service |
Full
service |
Full service, Investment only |
| FULL SERVICE |
| Years offering full-service 401(k) plans |
23 |
22 |
24 |
21 |
| Number of full-service plans |
26,752 |
820 |
4,405 |
21,383 |
Number of full-service plans in each market
|
| Fewer than 100 employees |
24,722 |
511 |
NA |
15,866 |
| 100-999 employees |
1,998 |
251 |
NA |
5,315 |
| 1,000-4,999 employees |
32 |
51 |
NA |
154 |
| 5,000 or more employees |
0 |
7 |
NA |
48 |
Offerings for full-service customers |
| Full-service customers using daily valuation |
100% |
85% |
100% |
100% |
| Full-service customers using voice response unit |
95% |
90% |
100% |
100% |
| Full-service customers using prototype plan document |
7% |
70% |
75% |
53% |
| Full-service customers using testing services |
100% |
99% |
100% |
74% |
| Full-service customers using regulatory filing services |
100% |
99% |
100% |
85% |
| Full-service customers using recordkeeping services |
100% |
99% |
100% |
100% |
| Full-service customers using education to comply with 404C |
100% |
90% |
100% |
100% |
| Can sponsors choose number and frequency of fund changes? |
Yes |
Yes |
Yes |
Yes |
Preferred business arrangement for companies with |
| Fewer than 100 employees |
TPA |
Internal |
TPA
Alliance |
Internal,
recordkeeping alliance |
| 100-999 employees |
TPA |
Internal |
TPA
Alliance/Internal |
Internal,
recordkeeping alliance |
| 1,000-4,999 employees |
TPA,
recordkeeping alliance |
Internal |
Internal |
Internal |
| 5,000 or more employees |
TPA,
recordkeeping alliance |
Internal |
Internal |
Internal |
Assets in full-service plans |
| Internally managed |
$10
billion |
$2.9
billion |
NA |
$29.3
billion |
| Externally managed |
$12.1
billion |
$9.5
billion |
NA |
$49.2
billion |
| Total |
$22.1
billion |
$12.4
billion |
$28.3
billion |
$78.5
billion |
| Number of participants in full-service plans |
1.1
million |
323,603 |
700,000 |
2.6
million |
| Number of full-service plans |
| At year-end 2003 |
26,752 |
820 |
4,500 |
21,383 |
| At year-end 2002 |
23,151 |
790 |
4,500 |
20,840 |
| At year-end 2001 |
19,351 |
775 |
4,400 |
17,855 |
| Converted in 2003 |
NA |
45 |
366 |
4,257 |
Number of funds available to full-service plans |
| Internally managed |
15 |
17 |
31 |
58 |
| Externally managed |
128 |
8,000 |
45 |
1,047 |
| Self-directed brokerage available to full-service plans? |
Yes |
Yes |
Yes |
Yes |
Average asset-allocation rates |
| Stable value |
12.80% |
8% |
36% |
16.8% |
| Fixed income |
18% |
8% |
2% |
10.2% |
| Equity funds |
67.70% |
58% |
60% |
53.8% |
| Self-Directed |
— |
6% |
1% |
0.7% |
| Company stock |
— |
14% |
1% |
13.1% |
| Other |
1.5% |
6% |
— |
5.5% |
Participant and deferral information |
| Average participation rate |
77% |
82% |
80% |
NA |
| Average deferral rate |
NA |
6.7% |
5% |
7.5% |
| Geographic coverage |
Nationwide |
Nationwide |
All 50 states and Washington, D.C. |
United
States and its territories |
| Web site capabilities |
| Online statements |
Yes |
Yes |
Yes |
Yes |
| Account changes |
Yes |
Yes |
Yes |
Yes |
| Tools and calculators |
Yes |
Yes |
Yes |
Yes |
| Sponsor site |
Yes |
Yes |
Yes |
Yes |
| Services available to full service plans |
| Custom plan design |
Yes,
via TPA |
Yes |
Yes |
Yes |
| 1:1 enrollment |
Yes |
No |
Yes |
Yes |
| Online enrollment |
Yes |
Yes |
Yes |
Yes |
| Automatic enrollment |
Yes |
Yes |
Yes |
Yes |
| Education software |
Yes |
Yes |
Yes |
Yes |
| Education videos |
Yes |
Yes |
Yes |
Yes |
| Seminars |
Yes,
via broker/ financial adviser |
Yes |
Yes |
Yes |
| In-person classes |
Yes,
via broker/ financial broker |
Yes |
Yes |
Yes |
| Newsletters |
Yes |
Yes |
Yes |
Yes |
| Personal advice provided to participants |
| In person |
Yes,
via broker/ financial broker |
Yes |
Yes |
Yes |
| By telephone |
Yes,
via broker/ financial broker |
Yes |
Yes |
Yes |
| INVESTMENT ONLY |
| Provider |
Manulife Financial
Boston
(877) 346-8378
|
Marshall & Ilsley Trust
Milwaukee
(800) 342-2265
|
MassMutual Financial Group
Springfield, MA
(800) 228-2479
|
Merrill Lynch
Pennington, NJ
(609) 274-6357 |
| Can provider manage assets from unlimited third parties? |
— |
— |
— |
Yes |
| Years offering investment-only services to 401(k) plans |
— |
— |
— |
21 |
| Total 401(k) assets under management |
— |
— |
— |
$2.8
billion |
| Number of investment-only plans |
— |
— |
— |
18,944 |
| Percentage of investment-only assets subadvised externally |
— |
— |
— |
22% |
| Target markets for investment-only services |
| Minimum asset size |
— |
— |
— |
No minimum |
| Average plan asset size |
— |
— |
— |
NA |
| Assets in investment-only plans |
| Internally managed |
— |
— |
— |
$2.2
billion |
| Externally managed |
— |
— |
— |
$0.6
billion |
| Total |
— |
— |
— |
$2.8
billion |
| Web site capabilities |
| Investment results |
— |
— |
— |
Yes |
| Market commentary |
— |
— |
— |
Yes |
| Services available to investment-only plans |
| Will provider comply with investment-policy statement? |
— |
— |
— |
Yes |
| Classes of securities managed for 401(k) plans |
|
— |
— |
A,
B, C, I, R share classes |
| Investment styles offered |
— |
— |
— |
All
primary investment styles |
| Primary investment style |
— |
— |
— |
Varies |
| Frequency of market commentary |
— |
— |
— |
Weekly |
| Frequency of investment-results discussions |
— |
— |
— |
Annually,
or as needed |
| Investment business revenues represented by 401(k) |
— |
— |
— |
NA |
| RECORDKEEPING-ONLY |
| Provider |
Manulife Financial
Boston
(877) 346-8378
|
Marshall & Ilsley Trust
Milwaukee
(800) 342-2265
|
MassMutual Financial Group
Springfield, MA
(800) 228-2479
|
Merrill Lynch
Pennington, NJ
(609) 274-6357 |
| Can provider handle records from unlimited third parties? |
— |
— |
— |
— |
| Years offering recordkeeping-only services to 401(k) plans |
— |
— |
— |
— |
| Number of recordkeeping-only plans |
— |
— |
— |
— |
| Number
of recordkeeping-only plans in each market |
| Fewer than 100 employees |
— |
— |
— |
— |
| 100-999 employees |
— |
— |
— |
— |
| 1,000-4,999 employees |
— |
— |
— |
— |
| 5,000
or more employees |
— |
— |
— |
— |
| Offerings for recordkeeping-only customers |
| Recordkeeping-only customers using daily valuation |
— |
— |
— |
— |
| Recordkeeping-only customers using voice response unit |
— |
— |
— |
— |
| Can sponsors choose number and frequency of fund changes? |
— |
— |
— |
— |
| Preferred market for recordkeeping-only services |
| Fewer than 100 employees |
— |
— |
— |
— |
| 100-999 employees |
— |
— |
— |
— |
| 1,000-4,999 employees |
— |
— |
— |
— |
| 5,000 or more employees |
— |
— |
— |
— |
| Number of participants in recordkeeping-only plans |
— |
— |
— |
— |
| Number
of recordkeeping-only plans |
| At year end 2003 |
— |
|
— |
|
| At year-end 2002 |
— |
— |
— |
— |
| At year-end 2001 |
— |
— |
— |
— |
| Converted in 2003 |
— |
— |
— |
— |
| Externally managed |
— |
— |
— |
— |
| Participation/allocation/deferral information |
| Self-directed brokerage available to recordkeeping-only plans? |
— |
— |
— |
— |
| Average participation rate in recordkeeping-only plans |
— |
— |
— |
— |
| Average deferral rate in recordkeeping-only plans |
— |
— |
— |
— |
| Geographic coverage |
— |
— |
— |
— |
| Web site capabilities |
| Online statements |
— |
— |
— |
— |
| Account changes |
— |
— |
— |
— |
| Tools and calculators |
— |
—
|
 |
|
