2020 Best in Class 401(k) Plans | Winner
thyssenkrupp Materials NA, Inc. 401(k) Plan
| Plan name | thyssenkrupp Materials NA, Inc. 401(k) Plan |
| Location | Southfield, Michigan |
| Asset size | >$200mm–$500mm |
| # of participants | 5,000–9,999 |
| Business Category | Material Services |
| Participation Rate | 95.0% |
| Avg Deferral Rate | 7.0% |
| # of Funds Offered | 20 |
| Investment Review | Quarterly |
| True-up Feature | Yes |
| Match Vesting Period | 3 years |
| Eligibility | Immediate |
| Default Deferral Rate | 3% |
| Default Investment | Target-Risk |
| Auto-Escalation | Opt-out |
| Systematic Withdrawals | Yes |
| Fee Equalization | Yes |
| Match Rate | 50% of first 6% of salary |
| % Receiving Full Match | 51%–75% |
| Max Employer Contribution | 3% |
| Financial Education | |
| Saving/Budgeting | Yes |
| Investing strategies | Yes |
| Tax/Estate planning | Yes |
| College saving | Yes |
| Credit/Debt mgmt | Yes |
| Retiree health costs/savings options | Yes |
| Recordkeeper: | John Hancock |
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