New York Life Insurance Company received the highest level of satisfaction from employers for its 401(k) plan service, according to a recent survey from 401kExchange.

On a scale from one to five, New York Life received a ranking of 4.23 to lead all large providers with assets in the $10 million to $100 million range. With a score of 4.19, four companies tied for second place: the Vanguard Group, Manulife Financial, Massachusetts Financial Services and Massachusetts Mutual Life Insurance Company.

Fidelity, the largest investor of 401(k) assets, finished eighth at 4.15, tied with American Funds and Diversified Investment Advisors.

Standard Insurance Company finished first (4.35 score) in the small market ($1 million to $10 million). Union Bank of California finished second (4.17) and Minnesota Life finished third (4.16). Fidelity, Principal Financial and the Vanguard Group tied for fourth with a 4.15 score.

The report surveyed more than 95,000 401(k) employer plan sponsors nationwide.

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