2019 Best in Class 401(k) Plans | Winner
The Chemours Company
Plan name | The Chemours Retirement Savings Plan |
Location | Wilmington, Delaware |
Asset size | $485.6MM |
Participants | 4,369 |
Industry | Chemical Manufacturing & Production |
Participation rate | 94% |
Average deferral rate | 10.0% |
# of funds offered | 10 |
Investment review | Quarterly |
True-up match | Yes |
Match vesting period | Immediately upon enrollment |
Eligibility | Immediately upon hire |
Default deferral rate | 6% |
Default investment | Retail Target-date Fund (Active Management) |
Automatic escalation | Opt-out |
Systematic withdrawals | Yes |
Fee equalization | Not applicable |
Match rate | 100% on the first 6% of salary deferrals |
% receiving full match | >90% |
Maximum employer contribution | 6% – 9% |
Financial education: | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | Yes |
Credit/Debt management | |
Tax/Estate planning | |
Retiree health costs/savings options | Yes |
Recordkeeper | Bank of America Merrill Lynch |