Lufthansa German Airlines

Plan name | Voluntary Investment Plan for Employees of Lufthansa |
Location | East Meadow, New York |
Asset size | $222.5MM |
Participants | 2,300 |
Industry | Transportation |
Participation rate | 98% |
Average deferral rate | 9.5% |
# of funds offered | 17 |
Investment review | Quarterly |
True-up match | No |
Match vesting period | 2 years (cliff) |
Eligibility | Within 3 months of employment |
Default deferral rate | 5% |
Default investment | Managed Account |
Automatic escalation | Opt-out |
Systematic withdrawals | Yes |
Fee equalization | Yes |
Match rate | 7% if the employee defers 5% of salary |
% receiving full match | >90% |
Maximum employer contribution | 7% |
Financial education: | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | |
Credit/Debt management | Yes |
Tax/Estate planning | Yes |
Retiree health costs/savings options | Yes |
Recordkeeper | Bank of America Merrill Lynch |