This report ranks the recordkeepers that serve large 401(k) plans in Oklahoma, using the U.S. Department of Labor's Form 5500 Schedule C service-provider disclosures for plan year 2024. Across 404 large 401(k) plans in Oklahoma that disclosed a recordkeeper — covering 298,928 active participants and $22.0B 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 93 plans (23.0% of the recordkeeper-served market), followed by Empower with 82 plans (20.3%). Ranked by assets on the plans they serve, Fidelity leads with $11.5B.
Primary recordkeeper per plan · 2024 plan year · share of the 404 large 401(k) plans in Oklahoma that disclose a recordkeeper.
| # | Recordkeeper | Plans | Plans YoY | Participants | Assets on plans | Plans share |
|---|---|---|---|---|---|---|
| 1 | Fidelity | 93 | +1.1% | 132,952 | $11.5B | 23.0% |
| 2 | Empower | 82 | -4.7% | 51,843 | $3.1B | 20.3% |
| 3 | John Hancock | 33 | 0.0% | 11,700 | $434.1M | 8.2% |
| 4 | Principal | 32 | +10.3% | 22,346 | $2.0B | 7.9% |
| 5 | ADP | 27 | -15.6% | 10,600 | $393.1M | 6.7% |
| 6 | The Standard (StanCorp) | 18 | +157.1% | 7,849 | $412.0M | 4.5% |
| 7 | Voya | 16 | 0.0% | 5,848 | $225.5M | 4.0% |
| 8 | Vanguard | 11 | +10.0% | 10,348 | $1.3B | 2.7% |
| 9 | Transamerica | 11 | +10.0% | 5,755 | $177.5M | 2.7% |
| 10 | Ascensus | 11 | -21.4% | 2,171 | $114.9M | 2.7% |
| 11 | Capital Group (American Funds) | 10 | -9.1% | 2,667 | $301.9M | 2.5% |
| 12 | Mutual of America | 8 | +60.0% | 2,043 | $69.5M | 2.0% |
| 13 | Lincoln Financial | 7 | +40.0% | 3,776 | $238.6M | 1.7% |
| 14 | Nationwide | 7 | -12.5% | 1,742 | $173.9M | 1.7% |
| 15 | Jpmorgan Invest Holdings(as filed) | 5 | 0.0% | 1,370 | $71.1M | 1.2% |
| 16 | Merrill (Bank of America) | 4 | +33.3% | 15,202 | $525.3M | 1.0% |
| 17 | OneAmerica | 4 | 0.0% | 1,032 | $141.2M | 1.0% |
| 18 | T. Rowe Price | 3 | +50.0% | 1,285 | $116.3M | 0.7% |
| 19 | Newport Group | 3 | -40.0% | 878 | $58.1M | 0.7% |
| 20 | Capital Bank And Trust(as filed) | 3 | 0.0% | 1,307 | $25.3M | 0.7% |
| 21 | Paychex | 3 | +50.0% | 394 | $5.0M | 0.7% |
| 22 | Schwab | 2 | +100.0% | 2,987 | $520.7M | 0.5% |
| 23 | Alerus | 2 | -33.3% | 496 | $18.3M | 0.5% |
| 24 | EPIC Retirement Plan Services | 1 | 0.0% | 706 | $52.4M | 0.2% |
| 25 | Allen Gibbs Houlik L C(as filed) | 1 | 0.0% | 301 | $22.3M | 0.2% |
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 | 93 | +1.1% | 132,952 | $11.5B | 52.1% |
| 2 | Empower | 82 | -4.7% | 51,843 | $3.1B | 14.0% |
| 3 | Principal | 32 | +10.3% | 22,346 | $2.0B | 9.0% |
| 4 | Vanguard | 11 | +10.0% | 10,348 | $1.3B | 6.1% |
| 5 | Merrill (Bank of America) | 4 | +33.3% | 15,202 | $525.3M | 2.4% |
| 6 | Schwab | 2 | +100.0% | 2,987 | $520.7M | 2.4% |
| 7 | John Hancock | 33 | 0.0% | 11,700 | $434.1M | 2.0% |
| 8 | The Standard (StanCorp) | 18 | +157.1% | 7,849 | $412.0M | 1.9% |
| 9 | ADP | 27 | -15.6% | 10,600 | $393.1M | 1.8% |
| 10 | Capital Group (American Funds) | 10 | -9.1% | 2,667 | $301.9M | 1.4% |
| 11 | Lincoln Financial | 7 | +40.0% | 3,776 | $238.6M | 1.1% |
| 12 | Voya | 16 | 0.0% | 5,848 | $225.5M | 1.0% |
| 13 | Transamerica | 11 | +10.0% | 5,755 | $177.5M | 0.8% |
| 14 | Nationwide | 7 | -12.5% | 1,742 | $173.9M | 0.8% |
| 15 | OneAmerica | 4 | 0.0% | 1,032 | $141.2M | 0.6% |
| 16 | T. Rowe Price | 3 | +50.0% | 1,285 | $116.3M | 0.5% |
| 17 | Ascensus | 11 | -21.4% | 2,171 | $114.9M | 0.5% |
| 18 | Jpmorgan Invest Holdings(as filed) | 5 | 0.0% | 1,370 | $71.1M | 0.3% |
| 19 | Mutual of America | 8 | +60.0% | 2,043 | $69.5M | 0.3% |
| 20 | Newport Group | 3 | -40.0% | 878 | $58.1M | 0.3% |
| 21 | EPIC Retirement Plan Services | 1 | 0.0% | 706 | $52.4M | 0.2% |
| 22 | Capital Bank And Trust(as filed) | 3 | 0.0% | 1,307 | $25.3M | 0.1% |
| 23 | Allen Gibbs Houlik L C(as filed) | 1 | 0.0% | 301 | $22.3M | 0.1% |
| 24 | July Business Services(as filed) | 1 | 0.0% | 276 | $18.5M | 0.1% |
| 25 | Alerus | 2 | -33.3% | 496 | $18.3M | 0.1% |
Scope is limited to 401(k) plans whose sponsor is based in Oklahoma. 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.
