2016 Best in Class 401(k) Plans | Winner
IBM
Location | Armonk, NY |
Asset Size | More than $1 billion |
Number of Participants | 10,000 or more participants |
Business | Technology |
Participation rate | 91% |
Avg. deferral rate | 9.5% |
No. of funds offered | 20 primary, access to 165 mutual funds |
Investment Review | Quarterly |
True-up Match | Yes |
MatchVesting Period | Immediately |
Eligibility | Immediately |
Default deferral rate | 5% |
Default investment | Custom TDF |
Auto escalation | Opt-in |
Ret. Income offering | Out-of-Plan |
Fee equalization | Yes |
Match Rate | 6% to 10% depending on employee group |
% receiving full match | >75% |
Max Employer Contribution | 6% to 10% |
Financial education: | |
Saving/budgeting | x |
Investing strategies | x |
College saving | x |
Credit/debt mgt | x |
Tax/estate planning | x |
Retiree health costs/savings options | x |
Recordkeeper | Fidelity Investments |