BEST IN CLASS 401(k) PLANS

BEST IN CLASS 401(k) PLANS

Role Models: This year's designees—chosen for administrative, fiduciary and plan design elements—continue to raise the bar.

Recipients of the 2018 Best in Class 401(k) Plan designation were selected from the 3,018 401(k) plans that responded to the 2017 PLANSPONSOR Defined Contribution (DC) Survey. Plans were rated by way of a proprietary system that weighted usage/implementation of 35 criteria related to plan design, oversight/governance and participant outcomes. Examples include participation and deferral rates, matching contributions levels/features, and eligibility/vesting requirements. Numeric scores were then assigned to each attribute, with higher scores given for use of features that were viewed as having greater correlation with improved participant/plan outcomes—e.g., plans with immediate vesting received slightly higher scores than plans with three-year vesting schedules. Plans that achieved a total score of more than 90 points, on a 100-point scale, received the Best in Class designation.

If you’d like to be considered as a Best in Class 401(k) Plan next year, our annual Defined Contribution (DC) Survey is the basis for the Best in Class 401(k) Plan designation. To be sure you receive the DC Survey questionnaire this June/July, please email a request to Jackie Scott at Jackie.scott@strategic-i.com.


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