This report ranks the recordkeepers that serve large 401(k) plans in West Virginia, using the U.S. Department of Labor's Form 5500 Schedule C service-provider disclosures for plan year 2024. Across 126 large 401(k) plans in West Virginia that disclosed a recordkeeper — covering 71,270 active participants and $5.8B 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 36 plans (28.6% of the recordkeeper-served market), followed by Fidelity with 20 plans (15.9%). Ranked by assets on the plans they serve, Empower leads with $2.3B.
Primary recordkeeper per plan · 2024 plan year · share of the 126 large 401(k) plans in West Virginia that disclose a recordkeeper.
| # | Recordkeeper | Plans | Plans YoY | Participants | Assets on plans | Plans share |
|---|---|---|---|---|---|---|
| 1 | Empower | 36 | +9.1% | 15,361 | $2.3B | 28.6% |
| 2 | Fidelity | 20 | +17.6% | 27,945 | $1.9B | 15.9% |
| 3 | John Hancock | 10 | -16.7% | 2,134 | $173.7M | 7.9% |
| 4 | Principal | 9 | +12.5% | 4,995 | $233.0M | 7.1% |
| 5 | ADP | 7 | -12.5% | 2,338 | $39.5M | 5.6% |
| 6 | Vanguard | 5 | -16.7% | 2,609 | $369.3M | 4.0% |
| 7 | Newport Group | 4 | -20.0% | 2,457 | $118.3M | 3.2% |
| 8 | Transamerica | 4 | -33.3% | 1,230 | $42.5M | 3.2% |
| 9 | Lincoln Financial | 4 | +33.3% | 3,853 | $41.3M | 3.2% |
| 10 | Voya | 3 | +50.0% | 994 | $68.4M | 2.4% |
| 11 | Alerus | 3 | -25.0% | 1,272 | $62.7M | 2.4% |
| 12 | Capital Group (American Funds) | 3 | 0.0% | 1,390 | $33.5M | 2.4% |
| 13 | Nationwide | 2 | -50.0% | 474 | $13.5M | 1.6% |
| 14 | Ascensus | 2 | 0.0% | 417 | $12.4M | 1.6% |
| 15 | Mutual of America | 2 | +100.0% | 218 | $7.4M | 1.6% |
| 16 | OneAmerica | 1 | 0.0% | 724 | $188.9M | 0.8% |
| 17 | Capital Group Retirment Plan Servic(as filed) | 1 | 0.0% | 75 | $49.5M | 0.8% |
| 18 | Merrill (Bank of America) | 1 | 0.0% | 240 | $44.9M | 0.8% |
| 19 | T. Rowe Price | 1 | 0.0% | 382 | $31.4M | 0.8% |
| 20 | Equitable(as filed) | 1 | 0.0% | 87 | $16.0M | 0.8% |
| 21 | Alliance Pension Consultants(as filed) | 1 | 0.0% | 324 | $11.0M | 0.8% |
| 22 | Guideline | 1 | — | 215 | $9.3M | 0.8% |
| 23 | Ameritas Life Insurance(as filed) | 1 | 0.0% | 178 | $8.9M | 0.8% |
| 24 | Schneider Downs Retirement Solution(as filed) | 1 | 0.0% | 755 | $8.1M | 0.8% |
| 25 | EPIC Retirement Plan Services | 1 | 0.0% | 377 | $6.8M | 0.8% |
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 | Empower | 36 | +9.1% | 15,361 | $2.3B | 40.3% |
| 2 | Fidelity | 20 | +17.6% | 27,945 | $1.9B | 32.1% |
| 3 | Vanguard | 5 | -16.7% | 2,609 | $369.3M | 6.4% |
| 4 | Principal | 9 | +12.5% | 4,995 | $233.0M | 4.0% |
| 5 | OneAmerica | 1 | 0.0% | 724 | $188.9M | 3.3% |
| 6 | John Hancock | 10 | -16.7% | 2,134 | $173.7M | 3.0% |
| 7 | Newport Group | 4 | -20.0% | 2,457 | $118.3M | 2.0% |
| 8 | Voya | 3 | +50.0% | 994 | $68.4M | 1.2% |
| 9 | Alerus | 3 | -25.0% | 1,272 | $62.7M | 1.1% |
| 10 | Capital Group Retirment Plan Servic(as filed) | 1 | 0.0% | 75 | $49.5M | 0.9% |
| 11 | Merrill (Bank of America) | 1 | 0.0% | 240 | $44.9M | 0.8% |
| 12 | Transamerica | 4 | -33.3% | 1,230 | $42.5M | 0.7% |
| 13 | Lincoln Financial | 4 | +33.3% | 3,853 | $41.3M | 0.7% |
| 14 | ADP | 7 | -12.5% | 2,338 | $39.5M | 0.7% |
| 15 | Capital Group (American Funds) | 3 | 0.0% | 1,390 | $33.5M | 0.6% |
| 16 | T. Rowe Price | 1 | 0.0% | 382 | $31.4M | 0.5% |
| 17 | Equitable(as filed) | 1 | 0.0% | 87 | $16.0M | 0.3% |
| 18 | Nationwide | 2 | -50.0% | 474 | $13.5M | 0.2% |
| 19 | Ascensus | 2 | 0.0% | 417 | $12.4M | 0.2% |
| 20 | Alliance Pension Consultants(as filed) | 1 | 0.0% | 324 | $11.0M | 0.2% |
| 21 | Guideline | 1 | — | 215 | $9.3M | 0.2% |
| 22 | Ameritas Life Insurance(as filed) | 1 | 0.0% | 178 | $8.9M | 0.2% |
| 23 | Schneider Downs Retirement Solution(as filed) | 1 | 0.0% | 755 | $8.1M | 0.1% |
| 24 | Mutual of America | 2 | +100.0% | 218 | $7.4M | 0.1% |
| 25 | EPIC Retirement Plan Services | 1 | 0.0% | 377 | $6.8M | 0.1% |
Scope is limited to 401(k) plans whose sponsor is based in West Virginia. 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.
