2018 Best in Class 401(k) Plans | Winner
TimkenSteel Corporation SIP Plan
| Plan Name | TimkenSteel Corporation SIP Plan |
| Location | Canton, OH |
| Asset Size | $298MM |
| Number of Participants | 1,000 – 4,999 |
| Business | Manufacturing – Industrial |
| Participation rate | 96.4% |
| Avg. deferral rate | 9.1% |
| No. of funds offered | 11 |
| Investment Review | Quarterly |
| True-up feature | No |
| Match Vesting Period | Immediate |
| Eligibility | After 1 month |
| Default deferral rate | 6.0% |
| Default investment | Retail Target-Date Fund (Indexed) |
| Auto-escalation | Opt-Out |
| Systematic withdrawals | Yes |
| Fee equalization | Not applicable |
| Match Rate | 100% of first 3% of salary; 50% of the next 3% |
| % receiving full match | 75% or more |
| Max Employer Contribution | 5.5% – 9.0% |
| Financial education: | |
| Saving/budgeting | |
| Investing strategies | Yes |
| College saving | |
| Credit/debt mgt | |
| Tax/estate planning | |
| Retiree health costs/savings options | |
| Recordkeeper | Empower Retirement |
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