American Bankers Association

Plan name | Employees’ Thrift Plan of the American Bankers Association |
Location | Washington, D.C. |
Asset size | $114.6MM |
Participants | 500 |
Industry | Trade Association |
Participation rate | 92% |
Average deferral rate | 10.0% |
# of funds offered | 11 |
Investment review | Twice a year |
True-up match | No |
Match vesting period | 3 years (graded) |
Eligibility | Within 3 months of employment |
Default deferral rate | 6% |
Default investment | Retail Target-date Fund (Active Management) |
Automatic escalation | Opt-out |
Systematic withdrawals | Yes |
Fee equalization | Yes |
Match rate | 50% on the first 6% of salary deferrals |
% receiving full match | >75% |
Maximum employer contribution | 9% |
Financial education: | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | |
Credit/Debt management | Yes |
Tax/Estate planning | Yes |
Retiree health costs/savings options | |
Recordkeeper | Voya Financial |