American Bankers Association

Plan nameEmployees’ 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
Note: Match rates and employer contributions are simplified for reporting purposes and may have other attributes (e.g., caps/limits, tiers, etc.) not listed here.
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