Pooled employer plans (PEPs) and participant personalization are at the top of recordkeepers’ strategic priorities. Most recordkeepers are pointing to the micro and small market segments as key growth drivers. Our research finds:

• 71% of recordkeepers cite PEPs as a major or moderate strategic priority. Nearly two-thirds (63%) report that the growth of PEPs will have a positive impact on their recordkeeping business, and just less than one-third (32%) say they will have a significant positive impact.

• 20% of plan sponsors planning to conduct a recordkeeper review in the next 12 months are considering a PEP.

• More than half of recordkeepers tell Cerulli that the $1m to $5m and $5m to $25m plan segments will be a major source of growth over the next two years and are focusing their distribution efforts on the retirement aggregators and retirement specialist practices that work with sponsors in these two segments.

• As recordkeepers seek to penetrate this market, they are increasingly focused on participant personalization. 82% of recordkeepers anticipate increasing allocations of resources to participant analytics, with cybersecurity, the implementation of artificial intelligence, and participant technology also expected to see increases (73%).

In a competitive industry where fees continue to be under pressure, understand how recordkeepers can find potential efficiencies and better meet the needs of plan sponsors with The Cerulli Report—U.S. Retirement Markets 2025. Access our research to receive Cerulli’s updated sizing on pooled employer and multiple employer plans, including plan assets, participants, industry marketshare, and more.