2019 Best in Class 401(k) Plans | Winner
Taylor Guitars
Plan name | Taylor Guitars Savings and Retirement Plan |
Location | El Cajon, California |
Asset size | $36.7MM |
Participants | 465 |
Industry | Manufacturing – Consumer Products |
Participation rate | >89% |
Average deferral rate | 8.0% |
# of funds offered | 17 |
Investment review | Quarterly |
True-up match | Yes |
Match vesting period | 2 years (cliff) |
Eligibility | Within 3 months of employment |
Default deferral rate | 5% |
Default investment | Allocation Models |
Automatic escalation | Opt-out |
Systematic withdrawals | Yes |
Fee equalization | Yes |
Match rate | 100% on the first 5% of salary deferrals |
% receiving full match | >65% |
Maximum employer contribution | 7% |
Financial education: | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | |
Credit/Debt management | |
Tax/Estate planning | |
Retiree health costs/savings options | |
Recordkeeper | Principal Financial Group |