2021 Best in Class 401(k) Plans | Winner
IBM 401(k) Plus Plan
| Plan name | IBM 401(k) Plus Plan |
| Location | Armonk, NY |
| Asset size ($mm) | $61,000 |
| Participants | 173,513 |
| Industry | Technology |
| Participation rate | 97% |
| Average deferral rate | 9.9% |
| # of funds offered | 156 |
| Investment review | Annually |
| True-up match | Yes |
| Match vesting period | Immediately upon enrollment |
| Eligibility | Immediately upon hire |
| Default deferral rate | 5% |
| Default investment | TDF (all types) |
| Automatic escalation | Opt-in |
| Systematic withdrawals | Yes |
| Fee equalization | No |
| Â | Â |
| Match rate | 100% on first 5% of salary |
| % receiving full match | >75% |
| Maximum employer contribution | 6% |
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| Financial education | Â |
| Saving/Budgeting | Yes |
| Investing strategies | Yes |
| College saving | Yes |
| Credit/Debt management | Yes |
| Tax/Estate planning | Yes |
| Retiree health costs/savings options | Yes |
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| Recordkeeper | Fidelity |
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