Retirement plan sales
- John Hancock reported sales wins of nearly 1800 (1,769) plans in the first quarter. Hancock’s 401(k) wins are down slightly from this same time last year as Hancock report 1901 401(k) wins a year ago.
- Principal reported 401(k) sales just over 1,000 (1,036) plans in the first quarter. Principal first quarter sales are similar to 401(k) wins in Q1 2017 (1,077 plans).
- Transamerica rounded out the top three for 401(k) sales reporting 919 new plans.
- Several providers, such as Nationwide and MassMutual, did not see much in plan growth in the first quarter.
401(k) plan sales – Quarter 1, 2018
401(k) assets ($000) wins – Quarter 1, 2018
- The top three providers for new 401(k) assets were Empower, T. Rowe and Hancock.
- Principal was fourth reporting $1.9 billion in new 401(k) assets.
- Voya report losing $17 billion in assets in the first quarter.