Pontera turns to Washington insiders in a backdoor plan to shake loose Fidelity’s file-sharing ban, after ‘401(k) king’ slapped down its ‘frontal assault,’ that accused Fidelity of ‘an anti-competitive power grab’

Defining Fidelity‘s 401(k) and DC dominance

An estimated 70 million Americans hold a combined $10 trillion in 401(k) plans.An estimated 730,000 plans are in operation, Including small 401(k) plans.Fidelity is the largest 401(k) recordkeeper in the country, administering 47%, or 33 million of all plan participants. It administers around $4.65 trillion, or 33% of the total $13.95 trillion of domestic DC assets, including other plan types, like 403(b)s.Over 24,300 of the largest 401(k) plans in the country use its services.

* Source: The Investment Company Institute, Pensions & Investments, Fidelity.