This report ranks the recordkeepers that serve large 401(k) plans in Arkansas, using the U.S. Department of Labor's Form 5500 Schedule C service-provider disclosures for plan year 2024. Across 233 large 401(k) plans in Arkansas that disclosed a recordkeeper — covering 317,819 active participants and $18.6B in plan assets — the market remains highly concentrated at the top.
Empower is the most widely used recordkeeper by number of plans served, named as the primary recordkeeper on 41 plans (17.6% of the recordkeeper-served market), followed by Fidelity with 33 plans (14.2%). Ranked by assets on the plans they serve, Fidelity leads with $5.7B.
Primary recordkeeper per plan · 2024 plan year · share of the 233 large 401(k) plans in Arkansas that disclose a recordkeeper.
| # | Recordkeeper | Plans | Plans YoY | Participants | Assets on plans | Plans share |
|---|---|---|---|---|---|---|
| 1 | Empower | 41 | +10.8% | 20,644 | $1.2B | 17.6% |
| 2 | Fidelity | 33 | -5.7% | 158,969 | $5.7B | 14.2% |
| 3 | Principal | 23 | -8.0% | 16,065 | $684.9M | 9.9% |
| 4 | John Hancock | 18 | +12.5% | 8,205 | $415.1M | 7.7% |
| 5 | Transamerica | 15 | -21.1% | 18,884 | $1.6B | 6.4% |
| 6 | Voya | 15 | +7.1% | 13,275 | $1.3B | 6.4% |
| 7 | ADP | 15 | +15.4% | 5,241 | $273.2M | 6.4% |
| 8 | Newport Group | 12 | +9.1% | 30,928 | $3.3B | 5.2% |
| 9 | Ascensus | 10 | -16.7% | 3,627 | $200.6M | 4.3% |
| 10 | The Standard (StanCorp) | 7 | +250.0% | 5,414 | $158.4M | 3.0% |
| 11 | Nationwide | 6 | 0.0% | 7,262 | $73.1M | 2.6% |
| 12 | Vanguard | 5 | -28.6% | 4,097 | $845.4M | 2.1% |
| 13 | Merrill (Bank of America) | 3 | 0.0% | 9,278 | $1.4B | 1.3% |
| 14 | Schwab | 3 | +200.0% | 6,527 | $902.6M | 1.3% |
| 15 | Lincoln Financial | 3 | 0.0% | 1,428 | $70.0M | 1.3% |
| 16 | OneAmerica | 3 | -25.0% | 1,126 | $49.5M | 1.3% |
| 17 | Paychex | 3 | 0.0% | 1,283 | $26.9M | 1.3% |
| 18 | Capital Group (American Funds) | 3 | -40.0% | 619 | $8.7M | 1.3% |
| 19 | Correll Co(as filed) | 2 | 0.0% | 558 | $71.8M | 0.9% |
| 20 | Pcs Retirement(as filed) | 1 | -50.0% | 1,517 | $130.1M | 0.4% |
| 21 | Milliman(as filed) | 1 | — | 581 | $82.2M | 0.4% |
| 22 | Equitable Life Insurance Co(as filed) | 1 | 0.0% | 366 | $31.3M | 0.4% |
| 23 | Equitable(as filed) | 1 | — | 190 | $25.0M | 0.4% |
| 24 | Betterment | 1 | 0.0% | 278 | $9.3M | 0.4% |
| 25 | Jpmorgan Invest Holdings(as filed) | 1 | 0.0% | 120 | $8.8M | 0.4% |
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 | 33 | -5.7% | 158,969 | $5.7B | 30.4% |
| 2 | Newport Group | 12 | +9.1% | 30,928 | $3.3B | 17.9% |
| 3 | Transamerica | 15 | -21.1% | 18,884 | $1.6B | 8.8% |
| 4 | Merrill (Bank of America) | 3 | 0.0% | 9,278 | $1.4B | 7.5% |
| 5 | Voya | 15 | +7.1% | 13,275 | $1.3B | 7.2% |
| 6 | Empower | 41 | +10.8% | 20,644 | $1.2B | 6.2% |
| 7 | Schwab | 3 | +200.0% | 6,527 | $902.6M | 4.8% |
| 8 | Vanguard | 5 | -28.6% | 4,097 | $845.4M | 4.5% |
| 9 | Principal | 23 | -8.0% | 16,065 | $684.9M | 3.7% |
| 10 | John Hancock | 18 | +12.5% | 8,205 | $415.1M | 2.2% |
| 11 | ADP | 15 | +15.4% | 5,241 | $273.2M | 1.5% |
| 12 | Ascensus | 10 | -16.7% | 3,627 | $200.6M | 1.1% |
| 13 | The Standard (StanCorp) | 7 | +250.0% | 5,414 | $158.4M | 0.9% |
| 14 | Pcs Retirement(as filed) | 1 | -50.0% | 1,517 | $130.1M | 0.7% |
| 15 | Milliman(as filed) | 1 | — | 581 | $82.2M | 0.4% |
| 16 | Nationwide | 6 | 0.0% | 7,262 | $73.1M | 0.4% |
| 17 | Correll Co(as filed) | 2 | 0.0% | 558 | $71.8M | 0.4% |
| 18 | Lincoln Financial | 3 | 0.0% | 1,428 | $70.0M | 0.4% |
| 19 | OneAmerica | 3 | -25.0% | 1,126 | $49.5M | 0.3% |
| 20 | Equitable Life Insurance Co(as filed) | 1 | 0.0% | 366 | $31.3M | 0.2% |
| 21 | Paychex | 3 | 0.0% | 1,283 | $26.9M | 0.1% |
| 22 | Equitable(as filed) | 1 | — | 190 | $25.0M | 0.1% |
| 23 | Betterment | 1 | 0.0% | 278 | $9.3M | 0.0% |
| 24 | Jpmorgan Invest Holdings(as filed) | 1 | 0.0% | 120 | $8.8M | 0.0% |
| 25 | Capital Group (American Funds) | 3 | -40.0% | 619 | $8.7M | 0.0% |
Scope is limited to 401(k) plans whose sponsor is based in Arkansas. 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.
