2019 Best in Class 401(k) Plans | Winner
Altra Federal Credit Union
Plan name | Altra Federal Credit Union 401(k) Plan and Trust |
Location | Onalaska, Wisconsin |
Asset size | $31.9MM |
Participants | 100 – 499 |
Industry | Commerical Banking |
Participation rate | 98% |
Average deferral rate | 7.0% |
# of funds offered | 22 |
Investment review | Quarterly |
True-up match | Yes |
Match vesting period | 4 years (graded) |
Eligibility | 1st of the month following hire date |
Default deferral rate | 6% |
Default investment | Retail Target-date Fund (Active Management) |
Automatic escalation | Opt-in |
Systematic withdrawals | Yes |
Fee equalization | Not applicable |
Match rate | 100% on the first 6% of salary deferrals |
% receiving full match | >90% |
Maximum employer contribution | 9% |
Financial education: | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | |
Credit/Debt management | |
Tax/Estate planning | |
Retiree health costs/savings options | Yes |
Recordkeeper | CUNA Mutual Retirement Solutions |