This report ranks the recordkeepers that serve large 401(k) plans in Wyoming, using the U.S. Department of Labor's Form 5500 Schedule C service-provider disclosures for plan year 2024. Across 38 large 401(k) plans in Wyoming that disclosed a recordkeeper — covering 15,609 active participants and $956.7M 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 10 plans (26.3% of the recordkeeper-served market), followed by Fidelity with 10 plans (26.3%). Ranked by assets on the plans they serve, Empower leads with $469.0M.
Primary recordkeeper per plan · 2024 plan year · share of the 38 large 401(k) plans in Wyoming that disclose a recordkeeper.
| # | Recordkeeper | Plans | Plans YoY | Participants | Assets on plans | Plans share |
|---|---|---|---|---|---|---|
| 1 | Empower | 10 | +25.0% | 4,098 | $469.0M | 26.3% |
| 2 | Fidelity | 10 | +11.1% | 4,475 | $175.9M | 26.3% |
| 3 | Principal | 3 | +50.0% | 2,210 | $60.4M | 7.9% |
| 4 | Ascensus | 3 | +50.0% | 646 | $26.8M | 7.9% |
| 5 | Lincoln Financial | 2 | +100.0% | 650 | $49.8M | 5.3% |
| 6 | Transamerica | 2 | +100.0% | 568 | $23.1M | 5.3% |
| 7 | Voya | 2 | — | 538 | $8.4M | 5.3% |
| 8 | Admin Group Dba Tag Resources(as filed) | 2 | — | 599 | $617K | 5.3% |
| 9 | EPIC Retirement Plan Services | 1 | -50.0% | 966 | $72.0M | 2.6% |
| 10 | Vanguard | 1 | -66.7% | 231 | $39.0M | 2.6% |
| 11 | The Standard (StanCorp) | 1 | 0.0% | 372 | $28.5M | 2.6% |
| 12 | ADP | 1 | -50.0% | 256 | $3.0M | 2.6% |
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 | Empower | 10 | +25.0% | 4,098 | $469.0M | 49.0% |
| 2 | Fidelity | 10 | +11.1% | 4,475 | $175.9M | 18.4% |
| 3 | EPIC Retirement Plan Services | 1 | -50.0% | 966 | $72.0M | 7.5% |
| 4 | Principal | 3 | +50.0% | 2,210 | $60.4M | 6.3% |
| 5 | Lincoln Financial | 2 | +100.0% | 650 | $49.8M | 5.2% |
| 6 | Vanguard | 1 | -66.7% | 231 | $39.0M | 4.1% |
| 7 | The Standard (StanCorp) | 1 | 0.0% | 372 | $28.5M | 3.0% |
| 8 | Ascensus | 3 | +50.0% | 646 | $26.8M | 2.8% |
| 9 | Transamerica | 2 | +100.0% | 568 | $23.1M | 2.4% |
| 10 | Voya | 2 | — | 538 | $8.4M | 0.9% |
| 11 | ADP | 1 | -50.0% | 256 | $3.0M | 0.3% |
| 12 | Admin Group Dba Tag Resources(as filed) | 2 | — | 599 | $617K | 0.1% |
Scope is limited to 401(k) plans whose sponsor is based in Wyoming. 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.
