This report ranks the recordkeepers that serve large 401(k) plans in Alaska, using the U.S. Department of Labor's Form 5500 Schedule C service-provider disclosures for plan year 2024. Across 91 large 401(k) plans in Alaska that disclosed a recordkeeper — covering 92,482 active participants and $7.8B in plan assets — the market remains highly concentrated at the top.
Fidelity is the most widely used recordkeeper by number of plans served, named as the primary recordkeeper on 21 plans (23.1% of the recordkeeper-served market), followed by Empower with 15 plans (16.5%). Ranked by assets on the plans they serve, Fidelity leads with $3.1B.
Primary recordkeeper per plan · 2024 plan year · share of the 91 large 401(k) plans in Alaska that disclose a recordkeeper.
| # | Recordkeeper | Plans | Plans YoY | Participants | Assets on plans | Plans share |
|---|---|---|---|---|---|---|
| 1 | Fidelity | 21 | +16.7% | 30,714 | $3.1B | 23.1% |
| 2 | Empower | 15 | +7.1% | 13,701 | $913.4M | 16.5% |
| 3 | John Hancock | 10 | -16.7% | 2,259 | $152.8M | 11.0% |
| 4 | The Standard (StanCorp) | 6 | +20.0% | 1,206 | $153.9M | 6.6% |
| 5 | Vanguard | 5 | 0.0% | 2,271 | $277.9M | 5.5% |
| 6 | Principal | 4 | 0.0% | 5,000 | $255.7M | 4.4% |
| 7 | ADP | 4 | 0.0% | 630 | $47.6M | 4.4% |
| 8 | Mutual of America | 4 | 0.0% | 419 | $39.6M | 4.4% |
| 9 | Schwab | 3 | 0.0% | 16,587 | $1.7B | 3.3% |
| 10 | Transamerica | 3 | -50.0% | 1,278 | $51.2M | 3.3% |
| 11 | Lincoln Financial | 2 | 0.0% | 5,320 | $308.2M | 2.2% |
| 12 | T. Rowe Price | 2 | 0.0% | 612 | $165.7M | 2.2% |
| 13 | Newport Group | 2 | -33.3% | 236 | $10.5M | 2.2% |
| 14 | Merrill (Bank of America) | 1 | 0.0% | 7,864 | $451.4M | 1.1% |
| 15 | Northwest Investment Consulting(as filed) | 1 | — | 2,204 | $61.4M | 1.1% |
| 16 | Ameritas Life Insurance(as filed) | 1 | 0.0% | 97 | $33.5M | 1.1% |
| 17 | Ascensus | 1 | 0.0% | 543 | $28.6M | 1.1% |
| 18 | Equitable Life Insurance(as filed) | 1 | 0.0% | 102 | $22.6M | 1.1% |
| 19 | Automatic Data Processing(as filed) | 1 | — | 545 | $8.4M | 1.1% |
| 20 | Northwest Plan Services(as filed) | 1 | — | 104 | $8.4M | 1.1% |
| 21 | Capital Group (American Funds) | 1 | 0.0% | 141 | $6.9M | 1.1% |
| 22 | Nationwide | 1 | 0.0% | 432 | $6.7M | 1.1% |
| 23 | Paychex | 1 | 0.0% | 217 | $6.0M | 1.1% |
Sum of each plan’s end-of-year total plan assets, pooled investment vehicles excluded. “Assets on plans served,” not assets under administration.
| # | Recordkeeper | Plans | Plans YoY | Participants | Assets on plans | Assets share |
|---|---|---|---|---|---|---|
| 1 | Fidelity | 21 | +16.7% | 30,714 | $3.1B | 39.9% |
| 2 | Schwab | 3 | 0.0% | 16,587 | $1.7B | 21.8% |
| 3 | Empower | 15 | +7.1% | 13,701 | $913.4M | 11.6% |
| 4 | Merrill (Bank of America) | 1 | 0.0% | 7,864 | $451.4M | 5.8% |
| 5 | Lincoln Financial | 2 | 0.0% | 5,320 | $308.2M | 3.9% |
| 6 | Vanguard | 5 | 0.0% | 2,271 | $277.9M | 3.5% |
| 7 | Principal | 4 | 0.0% | 5,000 | $255.7M | 3.3% |
| 8 | T. Rowe Price | 2 | 0.0% | 612 | $165.7M | 2.1% |
| 9 | The Standard (StanCorp) | 6 | +20.0% | 1,206 | $153.9M | 2.0% |
| 10 | John Hancock | 10 | -16.7% | 2,259 | $152.8M | 1.9% |
| 11 | Northwest Investment Consulting(as filed) | 1 | — | 2,204 | $61.4M | 0.8% |
| 12 | Transamerica | 3 | -50.0% | 1,278 | $51.2M | 0.7% |
| 13 | ADP | 4 | 0.0% | 630 | $47.6M | 0.6% |
| 14 | Mutual of America | 4 | 0.0% | 419 | $39.6M | 0.5% |
| 15 | Ameritas Life Insurance(as filed) | 1 | 0.0% | 97 | $33.5M | 0.4% |
| 16 | Ascensus | 1 | 0.0% | 543 | $28.6M | 0.4% |
| 17 | Equitable Life Insurance(as filed) | 1 | 0.0% | 102 | $22.6M | 0.3% |
| 18 | Newport Group | 2 | -33.3% | 236 | $10.5M | 0.1% |
| 19 | Automatic Data Processing(as filed) | 1 | — | 545 | $8.4M | 0.1% |
| 20 | Northwest Plan Services(as filed) | 1 | — | 104 | $8.4M | 0.1% |
| 21 | Capital Group (American Funds) | 1 | 0.0% | 141 | $6.9M | 0.1% |
| 22 | Nationwide | 1 | 0.0% | 432 | $6.7M | 0.1% |
| 23 | Paychex | 1 | 0.0% | 217 | $6.0M | 0.1% |
Scope is limited to 401(k) plans whose sponsor is based in Alaska. Each plan is attributed to its sponsor's state from the Form 5500, so a multi-state employer's plan is counted once, in its filing state. Scope is 401(k) plans only — filings whose pension-benefit code carries the 401(k) feature and are not defined-benefit plans — so the figures are comparable to other 401(k) market benchmarks. Each plan is attributed to a single primary recordkeeper — the disclosed recordkeeper receiving the highest direct compensation — so figures are unduplicated and brand shares sum to 100%. Provider-name spellings are consolidated into brand families using a curated, published mapping. Assets are each plan's own end-of-year total plan assets, summed across the plans a recordkeeper is primary on, with pooled investment vehicles (master trusts and other Direct Filing Entities) excluded to avoid double-counting. Because Schedule C is filed almost exclusively by large (generally 100+ participant) plans, this is a large-plan 401(k) market view. See the methodology for full definitions and limitations.
Full definitions and limitations: Methodology §7.
Source: U.S. Department of Labor EFAST2 public release of Form 5500 & Form 5500-SF, Schedule C (service providers) and Schedule H (financials), plan years 2022–2025. Generated October 18, 2026.
