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.
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.