Plan name Unum Group 401(k) Retirement Plan
Location Chattanooga, Tennessee
Asset size $1.45B
Participants 11,700
Industry Insurance/Reinsurance
Participation rate 92%
Average deferral rate 7.3%
# of funds offered 12
Investment review Quarterly
True-up match Yes
Match vesting period Immediately upon enrollment
Eligibility Immediately upon hire
Default deferral rate 5%
Default investment Institutional Target-date Fund (Active or Indexed)
Automatic escalation Opt-in
Systematic withdrawals Yes
Fee equalization Yes
Match rate 100% on the first 5% of salary deferrals
% receiving full match 50% – 75%
Maximum employer contribution 9.5%
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 Fidelity Investments
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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