2013: Small and Midsized Pension Plans - Market Analysis and Insurer Opportunity


Price : $1,750.00



Corporate pension plans offer insurers multiple opportunities to gain clients, assets, and increase revenue. However, these plans come in different sizes in terms of participants. One of the fastest growing segments is small pension plans. This study analyzes the market’s development as well as opportunities and challenges associated with small- and mid-sized plans of less than 250 employees. Insurers playing in this market have unique competitive issues and advantages that are examined here.  Structural issues such as the relationship among plans, product and service providers are mapped and explored. Regulatory issues of import to product and service offerings are also presented.  The study focuses on what it takes for insurers to succeed in the small pension market.

1. Introduction

2. Executive Summary

3. Small and Midsized Pension Market Review—Combined

  • Key Themes
  • The Small and Midsized Pension Market Profile
  • Small and Midsized Pension Market Dynamics
  • Summary
4. Small and Midsized Market Review—Defined Contribution
  • Key Themes
  • Small and Midsized Defined Contribution Market Structure
  • Market Profile
  • Small and Midsized Defined Contribution Market Dynamics
  • Summary
5. Small and Midsized 401(k) Market Review
  • Key Themes
  • Small and Midsized 401(k) Market Profile
  • Small and Midsized 401(k) Market Dynamics
  • Summary
6. Insurers in the Small and Midsized 401(k) Market
  • Key Themes
  • Schedule A Analysis Indicates Continued Appeal of Annuities
  • Schedule C Indicates Limited Service Provider Role
  • Schedule D Analysis of Insurers as Asset Managers
  • Regulatory Developments Affecting Product Development
  • Insurer Rankings Remain Concentrated
  • Summary
7. Small and Midsized 403(b) Market Review
  • Key Themes
  • Small and Midsized 403(b) Market Profile
  • Small and Midsized 403(b) Market Dynamics
  • Summary
8. Insurers in the Small and Midsized 403(b) Market
  • Key Themes
  • Midsized Plans and Annuities Dominate
  • 403(b) Product Analysis
  • Insurer Ranking for 403(b) Plans
  • Summary
9. Small and Midsized Pension Market Review—Defined Benefit
  • Key Themes
  • Small and Midsized Defined Benefit Market Structure
  • Small and Midsized Defined Benefit Market Profile
  • Small and Midsized Defined Benefit Market Dynamics
  • Summary
10. Insurers in the Small and Midsized Defined Benefit Market
  • Key Themes
  • Schedule A Indicates Limited Insurance Use; Annuity Opportunity
  • Schedule C Indicates Limited Defined Benefit Plan Opportunity
  • Schedule D Analysis Finds Limited Defined Benefit Plan Opportunity
  • Insurer Ranking for the Small and Midsized Defined Benefit Market
  • Summary
Appendix: Exhibits in Chapters

Introduction

The U.S. pension market represents significant opportunities for insurers and other financial service providers to gather assets and clients. However, this market covers a broad array of plan types and sizes. In addition, different factors affect the development and appeal of these plan types and sizes. As a result, competitors in this market need to view it as a collection of market segments, rather than a monolith, which requires distribution, marketing, and products tailored to each segment.

This study focuses on small and midsized pension plans (those with between 1 and 250 participants) because they are the largest number of plans and are the majority of newly established pension plans. Data from Department of Labor filings provide a robust picture of the small and midsized pension market. 

  • We analyze how the small and midsized pension market has developed since 2007.
  • We analyze both the defined benefit and contribution markets.
  • Our analysis looks at current market profiles, market dynamics, and the roles insurers are playing in those markets.