2019 Best in Class 401(k) Plans | Winner
Ablemarle Corporation
Plan name | Ablemarle Corporation Retirement Savings Plan |
Location | Charlotte, North Carolina |
Asset size | $721.1MM |
Participants | 3,500 |
Industry | Chemicals |
Participation rate | 94% |
Average deferral rate | 9.7% |
# of funds offered | 25 |
Investment review | Quarterly |
True-up match | Yes |
Match vesting period | Immediately upon enrollment |
Eligibility | Immediately upon hire |
Default deferral rate | 5% |
Default investment | Managed Account |
Auto-escalation | Opt-in |
Systematic withdrawals | Yes |
Fee equalization | Planned for 2019 |
Match rate | 100% of the first 3% of salary deferrals, then 50% of the next 6%* |
% receiving full match | >65% |
Maximum employer contribution | >10% |
Financial education: | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | Yes |
Credit/Debt management | Yes |
Tax/Estate planning | |
Retiree health costs/savings options | Yes |
Recordkeeper | Bank of America Merrill Lynch |