Voluntary Investment Plan for Employees of Lufthansa

Plan name Voluntary Investment Plan for Employees of Lufthansa
LocationUniondale, NY
Asset size ($MM)>$200 million – $500 million
ParticipantsNR
IndustryAirline
Participation rate97%
Average deferral rate9%
# of funds offered18
Investment reviewEvery 1 – 2 years
True-up matchNo
Match vesting period2 years
EligibilityWithin 3 months of employment
Default deferral rate5%
Default investmentTarget-date Fund (all types)
Automatic escalationMore than 1%
Systematic withdrawalsYes – plan to add by 06/30/2024
Fee equalizationYes – a policy is in place
Match RateOther
% receiving full matchVast majority (75% or more)
Maximum employer contribution10%
Financial Education
Saving/Budgeting
Yes
Investing strategies
Yes
College saving
No
Credit/Debt management
Yes
Tax/Estate planning
Yes
Retiree health costs/savings options​
Yes
RecordkeeperBank of America
Footnotes
NRNot Reported
Yes yes
No no
E_DEPRECATED Error in file »nav-menu-template.php« at line 533: Creation of dynamic property WP_Post::$current_item_parent is deprecated