2019 Best in Class 401(k) Plans | Winner
Schiff Hardin LLP
| Plan name | Schiff Hardin LLP Incentive Savings 401(k) Plan |
| Location | Chicago, Illinois |
| Asset size | $171.6MM |
| Participants | 800 |
| Industry | Law Firm |
| Participation rate | 88% |
| Average deferral rate | 7.9% |
| # of funds offered | 28 |
| Investment review | Quarterly |
| True-up match | Yes |
| Match vesting period | Immediately upon enrollment |
| Eligibility | Within 3 months of employment |
| Default deferral rate | 3% |
| Default investment | Balanced Fund |
| Automatic escalation | Opt-out |
| Systematic withdrawals | Yes |
| Fee equalization | Yes |
| Match rate | 25% on the first 6% of salary deferrals |
| % receiving full match | >65% |
| Maximum employer contribution | 7.5% |
| Financial education: | |
| Saving/Budgeting | Yes |
| Investing strategies | Yes |
| College saving | |
| Credit/Debt management | |
| Tax/Estate planning | |
| Retiree health costs/savings options | |
| Recordkeeper | MassMutual |
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