This report ranks the recordkeepers that serve large 401(k) plans in Oregon, using the U.S. Department of Labor's Form 5500 Schedule C service-provider disclosures for plan year 2024. Across 592 large 401(k) plans in Oregon that disclosed a recordkeeper — covering 387,695 active participants and $38.1B 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 115 plans (19.4% of the recordkeeper-served market), followed by Fidelity with 98 plans (16.6%). Ranked by assets on the plans they serve, Fidelity leads with $14.8B.
Primary recordkeeper per plan · 2024 plan year · share of the 592 large 401(k) plans in Oregon that disclose a recordkeeper.
| # | Recordkeeper | Plans | Plans YoY | Participants | Assets on plans | Plans share |
|---|---|---|---|---|---|---|
| 1 | Empower | 115 | +0.9% | 74,355 | $6.2B | 19.4% |
| 2 | Fidelity | 98 | 0.0% | 111,573 | $14.8B | 16.6% |
| 3 | The Standard (StanCorp) | 63 | +28.6% | 43,642 | $2.0B | 10.6% |
| 4 | Principal | 59 | -6.3% | 22,387 | $2.0B | 10.0% |
| 5 | ADP | 47 | -13.0% | 8,601 | $458.6M | 7.9% |
| 6 | John Hancock | 42 | -6.7% | 17,961 | $1.3B | 7.1% |
| 7 | Vanguard | 41 | -2.4% | 14,453 | $1.8B | 6.9% |
| 8 | Voya | 19 | 0.0% | 20,992 | $3.8B | 3.2% |
| 9 | Schwab | 14 | +16.7% | 13,007 | $2.4B | 2.4% |
| 10 | Paychex | 12 | 0.0% | 4,574 | $74.0M | 2.0% |
| 11 | Ascensus | 11 | 0.0% | 2,490 | $142.6M | 1.9% |
| 12 | Transamerica | 8 | 0.0% | 1,880 | $189.0M | 1.4% |
| 13 | T. Rowe Price | 7 | 0.0% | 8,155 | $809.6M | 1.2% |
| 14 | Newport Group | 7 | +40.0% | 8,202 | $304.1M | 1.2% |
| 15 | OneAmerica | 5 | -16.7% | 958 | $115.7M | 0.8% |
| 16 | Mutual of America | 5 | -16.7% | 1,050 | $28.1M | 0.8% |
| 17 | Spectrum Pension Consultants(as filed) | 4 | -20.0% | 1,785 | $223.3M | 0.7% |
| 18 | Capital Group (American Funds) | 3 | -50.0% | 615 | $54.4M | 0.5% |
| 19 | EPIC Retirement Plan Services | 3 | +50.0% | 360 | $39.3M | 0.5% |
| 20 | Alerus | 3 | 0.0% | 493 | $35.1M | 0.5% |
| 21 | Nationwide | 3 | -50.0% | 793 | $21.0M | 0.5% |
| 22 | Human Interest | 3 | +50.0% | 355 | $9.4M | 0.5% |
| 23 | Merrill (Bank of America) | 2 | 0.0% | 24,324 | $1.1B | 0.3% |
| 24 | Northwest Plan Services(as filed) | 2 | +100.0% | 448 | $155.3M | 0.3% |
| 25 | Lincoln Financial | 2 | 0.0% | 563 | $18.0M | 0.3% |
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 | 98 | 0.0% | 111,573 | $14.8B | 38.8% |
| 2 | Empower | 115 | +0.9% | 74,355 | $6.2B | 16.2% |
| 3 | Voya | 19 | 0.0% | 20,992 | $3.8B | 10.0% |
| 4 | Schwab | 14 | +16.7% | 13,007 | $2.4B | 6.3% |
| 5 | The Standard (StanCorp) | 63 | +28.6% | 43,642 | $2.0B | 5.3% |
| 6 | Principal | 59 | -6.3% | 22,387 | $2.0B | 5.1% |
| 7 | Vanguard | 41 | -2.4% | 14,453 | $1.8B | 4.7% |
| 8 | John Hancock | 42 | -6.7% | 17,961 | $1.3B | 3.3% |
| 9 | Merrill (Bank of America) | 2 | 0.0% | 24,324 | $1.1B | 2.8% |
| 10 | T. Rowe Price | 7 | 0.0% | 8,155 | $809.6M | 2.1% |
| 11 | ADP | 47 | -13.0% | 8,601 | $458.6M | 1.2% |
| 12 | Newport Group | 7 | +40.0% | 8,202 | $304.1M | 0.8% |
| 13 | Spectrum Pension Consultants(as filed) | 4 | -20.0% | 1,785 | $223.3M | 0.6% |
| 14 | Transamerica | 8 | 0.0% | 1,880 | $189.0M | 0.5% |
| 15 | Northwest Plan Services(as filed) | 2 | +100.0% | 448 | $155.3M | 0.4% |
| 16 | Ascensus | 11 | 0.0% | 2,490 | $142.6M | 0.4% |
| 17 | OneAmerica | 5 | -16.7% | 958 | $115.7M | 0.3% |
| 18 | Paychex | 12 | 0.0% | 4,574 | $74.0M | 0.2% |
| 19 | Capital Group (American Funds) | 3 | -50.0% | 615 | $54.4M | 0.1% |
| 20 | EPIC Retirement Plan Services | 3 | +50.0% | 360 | $39.3M | 0.1% |
| 21 | Alerus | 3 | 0.0% | 493 | $35.1M | 0.1% |
| 22 | Mutual of America | 5 | -16.7% | 1,050 | $28.1M | 0.1% |
| 23 | Premier Retirement Plan Services(as filed) | 1 | 0.0% | 186 | $22.0M | 0.1% |
| 24 | Nwps(as filed) | 1 | -50.0% | 390 | $21.9M | 0.1% |
| 25 | Nationwide | 3 | -50.0% | 793 | $21.0M | 0.1% |
Largest changes in plans served among recordkeepers with 100+ plans in either year.
Scope is limited to 401(k) plans whose sponsor is based in Oregon. 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.
