2016 Best in Class 401(k) Plans | Winner
Michelin North America, Inc.
Location | Greenville, SC |
Asset Size | More than $1 billion |
Number of Participants | 10,000 or more participants |
Business | Auto – Manufacturing/Parts |
Participation rate | 92% |
Avg. deferral rate | 7.6% |
No. of funds offered | 15 |
Investment Review | Quarterly |
True-up Match | No |
Match Vesting Period | Immediately |
Eligibility | Immediately |
Default deferral rate | 3% |
Default investment | Retail TDF (Index) |
Auto escalation | Opt-out |
Ret. Income offering | Out-of-Plan |
Fee equalization | Yes |
Match Rate | 51%-99% of first 6% of salary |
% receiving full match | >50%-75% |
Max Employer Contribution | 14% |
Financial education: | |
Saving/budgeting | x |
Investing strategies | x |
College saving | x |
Credit/debt mgt | |
Tax/estate planning | |
Retiree health costs/savings options | |
Recordkeeper | Vanguard |