American Express
Plan name | American Express |
Location | New York, N.Y. |
Asset size ($MM) | $7.6B |
Participants | 35,000 |
Industry | Financial services |
Participation rate | 94% |
Average deferral rate | 9% |
# of funds offered | 12 |
Investment review | Yes |
True-up match | Yes |
Match vesting period | Immediately upon enrollment |
Eligibility | Immediately upon hire |
Default deferral rate | 3% |
Default investment | Target-date Fund (all types) |
Automatic escalation | Yes - participants are defaulted into auto escalation at time of enrollment unless they opt out; all other participants can opt in at any time |
Systematic withdrawals | No |
Fee equalization |
Match Rate | 100% of first 6% of salary |
% receiving full match | More than average (more than 50% but less than 75%) |
Maximum employer contribution | 6% |
Financial Education | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | Yes |
Credit/Debt management | Yes |
Tax/Estate planning | Yes |
Retiree health costs/savings options​ | Yes |
Recordkeeper | Principal |