Number of Third Party Administration of Insurance and Pension Funds Businesses in the US (2000–2023)
As of 2023
114,626
third party administration of insurance and pension funds businesses in the United States
Number of Firms Over Time
Total Employment Over Time
Key Insights
- •The third party administration of insurance and pension funds industry has grown 2.2% since 2000 (from 112,187 to 114,626 firms).
- •The peak year was 2007 with 121,880 firms.
- •Recent trend (last 5 years): the industry is shrinking (-3.3%).
- •Employment: 1,293,795 workers in 2023 (57.9% change since 2000).
- •Estimated 5-year survival rate: 60%.
Year-by-Year Data
| Year | Firms | Establishments | Employment | Entry Rate | Exit Rate | Net Growth |
|---|---|---|---|---|---|---|
| 2023 | 114,626 | 135,818 | 1,293,795 | 8.9% | 9.8% | +2.9% |
| 2022 | 116,544 | 137,078 | 1,262,559 | 9.6% | 10.1% | +5.2% |
| 2021 | 118,006 | 137,981 | 1,199,831 | 9.6% | 8.9% | +1.1% |
| 2020 | 117,384 | 137,047 | 1,189,548 | 8.3% | 9.1% | +2.7% |
| 2019 | 118,486 | 137,932 | 1,138,853 | 9.7% | 8.4% | +4.9% |
| 2018 | 119,186 | 136,345 | 1,086,712 | 9.6% | 8.8% | +6.7% |
| 2017 | 119,889 | 135,656 | 1,020,633 | 8.5% | 8.4% | +3.3% |
| 2016 | 119,281 | 135,087 | 977,331 | 8.7% | 7.8% | +5.7% |
| 2015 | 118,876 | 134,074 | 927,449 | 8.8% | 7.8% | +2.6% |
| 2014 | 118,395 | 132,900 | 929,186 | 8.3% | 7.7% | +2.0% |
Source: U.S. Census Bureau, Business Dynamics Statistics (BDS). Entry/exit rates refer to establishment openings and closings.