This report ranks the recordkeepers that serve large 401(k) plans in Nebraska, using the U.S. Department of Labor's Form 5500 Schedule C service-provider disclosures for plan year 2024. Across 356 large 401(k) plans in Nebraska that disclosed a recordkeeper — covering 303,944 active participants and $36.1B 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 56 plans (15.7% of the recordkeeper-served market), followed by Principal with 54 plans (15.2%). Ranked by assets on the plans they serve, Schwab leads with $8.1B.
Primary recordkeeper per plan · 2024 plan year · share of the 356 large 401(k) plans in Nebraska that disclose a recordkeeper.
| # | Recordkeeper | Plans | Plans YoY | Participants | Assets on plans | Plans share |
|---|---|---|---|---|---|---|
| 1 | Empower | 56 | 0.0% | 40,237 | $2.6B | 15.7% |
| 2 | Principal | 54 | -12.9% | 33,822 | $2.9B | 15.2% |
| 3 | Fidelity | 45 | -4.3% | 83,194 | $7.0B | 12.6% |
| 4 | John Hancock | 38 | -5.0% | 16,662 | $1.7B | 10.7% |
| 5 | Ascensus | 27 | +35.0% | 12,009 | $1.9B | 7.6% |
| 6 | ADP | 19 | +5.6% | 7,357 | $291.5M | 5.3% |
| 7 | Vanguard | 18 | 0.0% | 46,313 | $6.5B | 5.1% |
| 8 | Capital Group (American Funds) | 11 | -8.3% | 4,232 | $327.4M | 3.1% |
| 9 | Voya | 9 | +12.5% | 8,808 | $1.7B | 2.5% |
| 10 | Newport Group | 9 | -25.0% | 2,757 | $131.0M | 2.5% |
| 11 | Transamerica | 7 | +16.7% | 6,146 | $594.1M | 2.0% |
| 12 | OneAmerica | 7 | -12.5% | 6,246 | $303.4M | 2.0% |
| 13 | Lincoln Financial | 7 | -12.5% | 2,095 | $172.9M | 2.0% |
| 14 | Schwab | 6 | +20.0% | 15,663 | $8.1B | 1.7% |
| 15 | Ameritas Life Insurance(as filed) | 6 | +20.0% | 1,153 | $186.5M | 1.7% |
| 16 | Merrill (Bank of America) | 4 | +100.0% | 2,616 | $494.5M | 1.1% |
| 17 | Mutual of Omaha | 4 | +33.3% | 1,900 | $140.5M | 1.1% |
| 18 | The Standard (StanCorp) | 4 | +300.0% | 2,044 | $127.0M | 1.1% |
| 19 | Nationwide | 4 | -55.6% | 1,259 | $106.3M | 1.1% |
| 20 | Mutual of America | 3 | +200.0% | 449 | $8.9M | 0.8% |
| 21 | T. Rowe Price | 2 | +100.0% | 2,322 | $112.1M | 0.6% |
| 22 | North American Ktrade Alliance(as filed) | 2 | 0.0% | 1,951 | $44.8M | 0.6% |
| 23 | July Business Services(as filed) | 2 | -33.3% | 358 | $32.5M | 0.6% |
| 24 | Retirement Plan Consultants(as filed) | 2 | 0.0% | 266 | $23.5M | 0.6% |
| 25 | Paychex | 2 | 0.0% | 260 | $10.2M | 0.6% |
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 | Schwab | 6 | +20.0% | 15,663 | $8.1B | 22.4% |
| 2 | Fidelity | 45 | -4.3% | 83,194 | $7.0B | 19.5% |
| 3 | Vanguard | 18 | 0.0% | 46,313 | $6.5B | 18.1% |
| 4 | Principal | 54 | -12.9% | 33,822 | $2.9B | 8.1% |
| 5 | Empower | 56 | 0.0% | 40,237 | $2.6B | 7.3% |
| 6 | Ascensus | 27 | +35.0% | 12,009 | $1.9B | 5.1% |
| 7 | Voya | 9 | +12.5% | 8,808 | $1.7B | 4.8% |
| 8 | John Hancock | 38 | -5.0% | 16,662 | $1.7B | 4.7% |
| 9 | Transamerica | 7 | +16.7% | 6,146 | $594.1M | 1.6% |
| 10 | Merrill (Bank of America) | 4 | +100.0% | 2,616 | $494.5M | 1.4% |
| 11 | Allen Gibbs & Houlik L C(as filed) | 1 | 0.0% | 2,073 | $358.4M | 1.0% |
| 12 | Capital Group (American Funds) | 11 | -8.3% | 4,232 | $327.4M | 0.9% |
| 13 | OneAmerica | 7 | -12.5% | 6,246 | $303.4M | 0.8% |
| 14 | ADP | 19 | +5.6% | 7,357 | $291.5M | 0.8% |
| 15 | Ameritas Life Insurance(as filed) | 6 | +20.0% | 1,153 | $186.5M | 0.5% |
| 16 | Lincoln Financial | 7 | -12.5% | 2,095 | $172.9M | 0.5% |
| 17 | Mutual of Omaha | 4 | +33.3% | 1,900 | $140.5M | 0.4% |
| 18 | Newport Group | 9 | -25.0% | 2,757 | $131.0M | 0.4% |
| 19 | The Standard (StanCorp) | 4 | +300.0% | 2,044 | $127.0M | 0.4% |
| 20 | T. Rowe Price | 2 | +100.0% | 2,322 | $112.1M | 0.3% |
| 21 | Capital Research And Management(as filed) | 1 | 0.0% | 672 | $109.3M | 0.3% |
| 22 | Nationwide | 4 | -55.6% | 1,259 | $106.3M | 0.3% |
| 23 | North American Ktrade Alliance(as filed) | 2 | 0.0% | 1,951 | $44.8M | 0.1% |
| 24 | July Business Services(as filed) | 2 | -33.3% | 358 | $32.5M | 0.1% |
| 25 | Retirement Plan Consultants(as filed) | 2 | 0.0% | 266 | $23.5M | 0.1% |
Scope is limited to 401(k) plans whose sponsor is based in Nebraska. 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.
