2016 Best in Class 401(k) Plans | Winner
Blue Cross Blue Shield of South Carolina
Location | Columbia, SC |
Asset Size | >$500 million – $1 billion |
Number of Participants | 10,000 or more participants |
Business | Healthcare |
Participation rate | 95% |
Avg. deferral rate | 7% |
No. of funds offered | 28 |
Investment Review | Quarterly |
True-up Match | No |
MatchVesting Period | 2 years |
Eligibility | Immediately |
Default deferral rate | 2% |
Default investment | Retail TDF (Active) |
Auto escalation | Opt-out |
Ret. Income offering | None |
Fee equalization | Unsure/Don’t know |
Match Rate | 50% of first 6% of salary |
% receiving full match | >50%-75% |
Max Employer Contribution | 9% |
Financial education: | |
Saving/budgeting | x |
Investing strategies | x |
College saving | x |
Credit/debt mgt | x |
Tax/estate planning | |
Retiree health costs/savings options | x |
Recordkeeper | Fidelity Investments |