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401(k) Administration Services in the US Procurement Price, Data and Insights
Providers of market services assist management and human resources (HR) personnel in the design, recordkeeping, and management of their employees' retirement plans. Suppliers process employee claims related to retirement plans in order to free up buyers' internal resources.
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What’s included in this market coverage
IBISWorld's research coverage on the 401(k) Administration Services procurement and pricing environment in the United States includes market dynamics, buyer power scores, supply chain vendors with pricing trends and forecasts.
About this Market
What’s this procurement report about?
This procurement coverage of the 401(k) Administration Services market in the United States includes Retirement Plan Design and Retirement Plan Management. Standard coding in this coverage includes ISIC-6629-Other activities auxiliary to insurance and pension funding, NACE-66.29-Other Activities Auxiliary To Insurance And Pension Funding, NAICS-524292-Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds and UNSPSC-84131801-Self directed or employer sponsored retirement funds.
What common market terminology is included?
Common market terminology included in the 401(k) Administration Services procurement coverage includes Managed Asset (The amount of cash included in the 401(k) investment portfolio to be managed by the supplier.), Employee Retirement Income Security Act (ERISA) (A law setting standards for administering 401(k) plans.), Standard & Poor's (S&P) 500 (An American stock market index of the largest 500 companies listed on the New York Stock Exchange (NYSE) or NASDAQ.), Participant Fee (Fees that the employee must pay directly to the 401(k) administrator for their services.) and Fiduciary (A person who is legally bound to act in the best interest of another party when managing their assets rather than for their own profit.).
What companies are included as top suppliers?
The top companies covered in the 401(k) Administration Services procurement report as suppliers are Voya Financial Inc., Massachusetts Mutual Life Insurance Co, Aon Plc, Principal Financial Services Inc. and Manulife Financial Corp.
Opportunity Assessment
What’s included in the Opportunity Assessment chapter?
The Opportunity Assessment chapter provides a comprehensive market analysis of the 401(k) Administration Services market in the United States category, including buyer power scoring, market pricing trends, vendor landscape, cost structure, and strategic negotiation levers.
The market pricing trends include the Market Price (2026) per employee per month, a five year price forecast and a supply chain risk score. Vendor coverage includes a market share and cost structure breakdown.
Analysis includes a comprehensive SWOT analysis of and recent developments impacting the 401(k) Administration Services market environment.
Buyer Power Score
What’s included in the Buyer Power Score chapter?
The Buyer Power Score chapter assesses key components impacting 401(k) Administration Services procurement including the recent price trend, forecast price trend, availability of substitutes, switching costs, product specialization, average vendor risk, market share concentration, supply chain risk, price driver volatility and recent price volatility.
These components generate a Buyer Power Score that ranges from -5 (strongly favoring sellers) to +5 (strongly favoring buyers) plus a recommended strategy for procurement specialists.
Price Environment
What’s included in the Price Environment chapter?
The Price Environment chapter covers detailed pricing analysis and datasets on 401(k) Administration Services market environment. This includes insights into market pricing Market Price (2026), price forecasts, volatility, specialization, substitutes and switching costs.
Datasets in the Price Environment chapter include vendor cost structure, breakdowns of wage rates by geography and specialty, key external economic and labor drivers impacting the market and market pricing models.
Supply Chain & Vendors
What’s included in the Supply Chain & Vendors chapter?
The Supply Chain & Vendors chapter covers the concentration, risk and diversity of the 401(k) Administration Services market. This includes datasets on the market’s top suppliers, detailed analysis on the key sourcing risks and supply chain dynamics, with environmental, social and governance (ESG) considerations and scores.
Business Requirements
What’s included in the Business Requirements chapter?
The Business Requirements chapter covers vendor relationships, qualifications, service level agreements and key performance indicators. These inputs provide insight into the planning process through the buying lead time, vendor relationship and vendor qualifications. The sourcing process include key RFP elements like an organizational overview, project budget, selection criteria, project schedule, proposal format, inventory control, cost containment, regulation, quality control, distribution and key contract clauses.
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Frequently Asked Questions
What is the current market price for 401(k) Administration Services?
The 2026 benchmark market price for 401(k) Administration Services is $6.89 per employee per month. Prices have increased at a CAGR of 3.14 from 2023-26.
Who are the top vendors in the 401(k) Administration Services market?
The top vendors in the 401(k) Administration Services market include Voya Financial Inc., Massachusetts Mutual Life Insurance Co, Aon Plc, Principal Financial Services Inc. and Manulife Financial Corp.
What industries supply the 401(k) Administration Services market?
The top industries supplying the 401(k) Administration Services market are Commercial Real Estate in the US, Commercial Banking in the US, Computer & Packaged Software Wholesaling in the US, Computer Manufacturing in the US, Portfolio Management & Investment Advice in the US and Business Analytics & Enterprise Software Publishing in the US.
What is the supply chain risk for 401(k) Administration Services?
Competitive landscape empowers buyers to secure favorable pricing and terms. The 401(k) Administration Services market is characterized by low market share concentration, with no single vendor dominating the sector. This fragmented, competitive landscape allows buyers to stimulate aggressive pricing and service improvements through frequent supplier benchmarking and open bidding. Buyers can leverage this competition to negotiate more favorable contract terms, demand custom solutions, or secure value-added services, ensuring both best-in-class pricing and tailored administrative support.
What factors affect the price of 401(k) Administration Services?
The number of participants in a 401(k) administration service can lead to economies of scale, where higher participant counts typically result in lower per-participant fees due to the spreading of fixed costs across a larger base. For example, a provider may charge a lower annual fee per participant for a plan with 1,000 employees compared to one with 30, as the administrative and operational costs are diluted across more individuals, making pricing more competitive for larger organizations.
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