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
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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