2019 Best in Class 401(k) Plans | Winner
Cleco Corporate Holdings LLC
| Plan name | Cleco Power LLC 401(k) Savings and Investment Plan |
| Location | Pineville, Louisiana |
| Asset size | $341.4MM |
| Participants | 1,400 |
| Industry | Utilities |
| Participation rate | 96% |
| Average deferral rate | 9.0% |
| # of funds offered | 11 |
| Investment review | Quarterly |
| True-up match | No |
| Match vesting period | Immediately upon enrollment |
| Eligibility | Immediately upon hire |
| Default deferral rate | 4% |
| Default investment | Retail Target-date Fund (Indexed) |
| Automatic escalation | Opt-out |
| Systematic withdrawals | Yes |
| Fee equalization | Yes |
| Match rate | 100% on the first 6% of salary deferrals |
| % receiving full match | 50% – 75% |
| Maximum employer contribution | 8% |
| Financial education: | |
| Saving/Budgeting | Yes |
| Investing strategies | |
| College saving | |
| Credit/Debt management | |
| Tax/Estate planning | |
| Retiree health costs/savings options | Yes |
| Recordkeeper | Empower Retirement |
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