This report ranks the recordkeepers that serve large 401(k) plans in Mississippi, using the U.S. Department of Labor's Form 5500 Schedule C service-provider disclosures for plan year 2024. Across 193 large 401(k) plans in Mississippi that disclosed a recordkeeper — covering 132,157 active participants and $8.9B 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 40 plans (20.7% of the recordkeeper-served market), followed by Fidelity with 34 plans (17.6%). Ranked by assets on the plans they serve, Fidelity leads with $3.1B.
Primary recordkeeper per plan · 2024 plan year · share of the 193 large 401(k) plans in Mississippi that disclose a recordkeeper.
| # | Recordkeeper | Plans | Plans YoY | Participants | Assets on plans | Plans share |
|---|---|---|---|---|---|---|
| 1 | Empower | 40 | +5.3% | 31,153 | $2.8B | 20.7% |
| 2 | Fidelity | 34 | -2.9% | 48,943 | $3.1B | 17.6% |
| 3 | Principal | 18 | -10.0% | 15,379 | $1.2B | 9.3% |
| 4 | EPIC Retirement Plan Services | 15 | 0.0% | 4,614 | $345.3M | 7.8% |
| 5 | Mwg Retirement Plan Services(as filed) | 10 | 0.0% | 2,261 | $121.3M | 5.2% |
| 6 | Vanguard | 9 | -18.2% | 5,333 | $521.3M | 4.7% |
| 7 | John Hancock | 8 | -20.0% | 2,267 | $132.3M | 4.1% |
| 8 | OneAmerica | 8 | 0.0% | 1,731 | $127.8M | 4.1% |
| 9 | The Standard (StanCorp) | 8 | +100.0% | 2,544 | $122.9M | 4.1% |
| 10 | Capital Group (American Funds) | 7 | -30.0% | 2,447 | $70.9M | 3.6% |
| 11 | Transamerica | 5 | -16.7% | 2,514 | $84.6M | 2.6% |
| 12 | Voya | 5 | +25.0% | 1,131 | $43.3M | 2.6% |
| 13 | T. Rowe Price | 4 | 0.0% | 4,892 | $74.4M | 2.1% |
| 14 | Nationwide | 4 | 0.0% | 670 | $49.8M | 2.1% |
| 15 | Mutual of America | 4 | +33.3% | 1,503 | $9.4M | 2.1% |
| 16 | ADP | 3 | 0.0% | 689 | $42.4M | 1.6% |
| 17 | Merrill (Bank of America) | 2 | -50.0% | 1,314 | $42.3M | 1.0% |
| 18 | Newport Group | 1 | 0.0% | 137 | $42.1M | 0.5% |
| 19 | Lincoln Financial | 1 | 0.0% | 160 | $16.5M | 0.5% |
| 20 | Schwab | 1 | 0.0% | 1,482 | $7.8M | 0.5% |
| 21 | Sentry Life Insurance(as filed) | 1 | 0.0% | 201 | $4.7M | 0.5% |
| 22 | Ameritas Life Insurance(as filed) | 1 | -50.0% | 447 | $2.2M | 0.5% |
| 23 | Insperity Retirement Services(as filed) | 1 | — | 186 | $1.6M | 0.5% |
| 24 | Paychex | 1 | 0.0% | 74 | $1.0M | 0.5% |
| 25 | Capital Group(as filed) | 1 | 0.0% | 85 | $0 | 0.5% |
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 | 34 | -2.9% | 48,943 | $3.1B | 34.8% |
| 2 | Empower | 40 | +5.3% | 31,153 | $2.8B | 31.0% |
| 3 | Principal | 18 | -10.0% | 15,379 | $1.2B | 13.3% |
| 4 | Vanguard | 9 | -18.2% | 5,333 | $521.3M | 5.8% |
| 5 | EPIC Retirement Plan Services | 15 | 0.0% | 4,614 | $345.3M | 3.9% |
| 6 | John Hancock | 8 | -20.0% | 2,267 | $132.3M | 1.5% |
| 7 | OneAmerica | 8 | 0.0% | 1,731 | $127.8M | 1.4% |
| 8 | The Standard (StanCorp) | 8 | +100.0% | 2,544 | $122.9M | 1.4% |
| 9 | Mwg Retirement Plan Services(as filed) | 10 | 0.0% | 2,261 | $121.3M | 1.4% |
| 10 | Transamerica | 5 | -16.7% | 2,514 | $84.6M | 0.9% |
| 11 | T. Rowe Price | 4 | 0.0% | 4,892 | $74.4M | 0.8% |
| 12 | Capital Group (American Funds) | 7 | -30.0% | 2,447 | $70.9M | 0.8% |
| 13 | Nationwide | 4 | 0.0% | 670 | $49.8M | 0.6% |
| 14 | Voya | 5 | +25.0% | 1,131 | $43.3M | 0.5% |
| 15 | ADP | 3 | 0.0% | 689 | $42.4M | 0.5% |
| 16 | Merrill (Bank of America) | 2 | -50.0% | 1,314 | $42.3M | 0.5% |
| 17 | Newport Group | 1 | 0.0% | 137 | $42.1M | 0.5% |
| 18 | Lincoln Financial | 1 | 0.0% | 160 | $16.5M | 0.2% |
| 19 | Mutual of America | 4 | +33.3% | 1,503 | $9.4M | 0.1% |
| 20 | Schwab | 1 | 0.0% | 1,482 | $7.8M | 0.1% |
| 21 | Sentry Life Insurance(as filed) | 1 | 0.0% | 201 | $4.7M | 0.1% |
| 22 | Ameritas Life Insurance(as filed) | 1 | -50.0% | 447 | $2.2M | 0.0% |
| 23 | Insperity Retirement Services(as filed) | 1 | — | 186 | $1.6M | 0.0% |
| 24 | Paychex | 1 | 0.0% | 74 | $1.0M | 0.0% |
| 25 | Capital Group(as filed) | 1 | 0.0% | 85 | $0 | 0.0% |
Scope is limited to 401(k) plans whose sponsor is based in Mississippi. 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.
