2019 Best in Class 401(k) Plans | Winner
United States Steel Corporation
Plan name |
United States Steel Corporation Savings Fund Plan for Salaried Employees |
Location | Pittsburgh, Pennsylvania |
Asset size | $1.13B |
Participants | 6,500 |
Industry | Manufacturing – Industrial Products |
Participation rate | 98% |
Average deferral rate | 9.1% |
# of funds offered | 15 |
Investment review | Quarterly |
True-up match | Yes |
Match vesting period | 3 years (cliff) |
Eligibility | 1st of month after hire date |
Default deferral rate | 3% |
Default investment | Institutional Target-date Fund (Active or Indexed) |
Automatic escalation | Opt-out |
Systematic withdrawals | Yes |
Fee equalization | Planned for 2019 |
Match rate | 100% on the first 6% of salary deferrals |
% receiving full match | >85% |
Maximum employer contribution | up to 14.5% (depending on tenure/age) |
Financial education: | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | Yes |
Credit/Debt management | |
Tax/Estate planning | |
Retiree health costs/savings options | Yes |
Recordkeeper | Fidelity Investments |