This report ranks the recordkeepers that serve large 401(k) plans in New Hampshire, using the U.S. Department of Labor's Form 5500 Schedule C service-provider disclosures for plan year 2025. Across 88 large 401(k) plans in New Hampshire that disclosed a recordkeeper — covering 46,872 active participants and $5.1B 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 31 plans (35.2% of the recordkeeper-served market), followed by Empower with 11 plans (12.5%). Ranked by assets on the plans they serve, Fidelity leads with $2.5B.
Primary recordkeeper per plan · 2025 plan year · share of the 88 large 401(k) plans in New Hampshire that disclose a recordkeeper.
| # | Recordkeeper | Plans | Plans YoY | Participants | Assets on plans | Plans share |
|---|---|---|---|---|---|---|
| 1 | Fidelity | 31 | -61.3% | 24,715 | $2.5B | 35.2% |
| 2 | Empower | 11 | -70.3% | 4,685 | $475.8M | 12.5% |
| 3 | Principal | 9 | -52.6% | 5,842 | $581.7M | 10.2% |
| 4 | John Hancock | 6 | -62.5% | 1,536 | $237.3M | 6.8% |
| 5 | Vanguard | 6 | -50.0% | 1,904 | $139.7M | 6.8% |
| 6 | Transamerica | 6 | -57.1% | 833 | $84.9M | 6.8% |
| 7 | Capital Group (American Funds) | 3 | -62.5% | 552 | $109.8M | 3.4% |
| 8 | ADP | 2 | -75.0% | 1,473 | $300.6M | 2.3% |
| 9 | T. Rowe Price | 2 | -66.7% | 505 | $104.5M | 2.3% |
| 10 | Nationwide | 2 | -60.0% | 1,086 | $62.2M | 2.3% |
| 11 | Paychex | 2 | 0.0% | 378 | $8.5M | 2.3% |
| 12 | Usi Consulting Group(as filed) | 1 | 0.0% | 2,115 | $200.5M | 1.1% |
| 13 | Merrill (Bank of America) | 1 | -50.0% | 98 | $104.0M | 1.1% |
| 14 | The Standard (StanCorp) | 1 | 0.0% | 139 | $82.6M | 1.1% |
| 15 | Lincoln Financial | 1 | — | 368 | $41.0M | 1.1% |
| 16 | TIAA | 1 | -66.7% | 163 | $34.6M | 1.1% |
| 17 | Alerus | 1 | 0.0% | 149 | $17.9M | 1.1% |
| 18 | Bpas(as filed) | 1 | 0.0% | 231 | $11.1M | 1.1% |
| 19 | Jpmorgan Invest Holdings(as filed) | 1 | 0.0% | 100 | $10.8M | 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 | 31 | -61.3% | 24,715 | $2.5B | 48.6% |
| 2 | Principal | 9 | -52.6% | 5,842 | $581.7M | 11.5% |
| 3 | Empower | 11 | -70.3% | 4,685 | $475.8M | 9.4% |
| 4 | ADP | 2 | -75.0% | 1,473 | $300.6M | 5.9% |
| 5 | John Hancock | 6 | -62.5% | 1,536 | $237.3M | 4.7% |
| 6 | Usi Consulting Group(as filed) | 1 | 0.0% | 2,115 | $200.5M | 4.0% |
| 7 | Vanguard | 6 | -50.0% | 1,904 | $139.7M | 2.8% |
| 8 | Capital Group (American Funds) | 3 | -62.5% | 552 | $109.8M | 2.2% |
| 9 | T. Rowe Price | 2 | -66.7% | 505 | $104.5M | 2.1% |
| 10 | Merrill (Bank of America) | 1 | -50.0% | 98 | $104.0M | 2.1% |
| 11 | Transamerica | 6 | -57.1% | 833 | $84.9M | 1.7% |
| 12 | The Standard (StanCorp) | 1 | 0.0% | 139 | $82.6M | 1.6% |
| 13 | Nationwide | 2 | -60.0% | 1,086 | $62.2M | 1.2% |
| 14 | Lincoln Financial | 1 | — | 368 | $41.0M | 0.8% |
| 15 | TIAA | 1 | -66.7% | 163 | $34.6M | 0.7% |
| 16 | Alerus | 1 | 0.0% | 149 | $17.9M | 0.4% |
| 17 | Bpas(as filed) | 1 | 0.0% | 231 | $11.1M | 0.2% |
| 18 | Jpmorgan Invest Holdings(as filed) | 1 | 0.0% | 100 | $10.8M | 0.2% |
| 19 | Paychex | 2 | 0.0% | 378 | $8.5M | 0.2% |
Scope is limited to 401(k) plans whose sponsor is based in New Hampshire. 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 19, 2026.
