2020 Best in Class 401(k) Plans | Winner
Wellmark, Inc.
| Plan name | Wellmark, Inc. |
| Location | Des Moines, Iowa |
| Asset size | $306mm |
| # of participants | 2,300 |
| Business Category | Insurance |
| Participation Rate | 94.0% |
| Avg Deferral Rate | 8.9% |
| # of Funds Offered | 13 |
| Investment Review | Quarterly |
| True-up Feature | Yes |
| Match Vesting Period | 2 years |
| Eligibility | Immediate |
| Default Deferral Rate | 4% |
| Default Investment | TDF (all types) |
| Auto-Escalation | Opt-out |
| Systematic Withdrawals | No |
| Fee Equalization | Not reported |
| Match Rate | 100% of first 4% of salary |
| % Receiving Full Match | >75% |
| Max Employer Contribution | 4% |
| 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: | Prudential |
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