American Express

Plan name American Express
LocationNew York, N.Y.
Asset size ($MM)$7.6B
Participants35,000
IndustryFinancial services
Participation rate94%
Average deferral rate9%
# of funds offered12
Investment reviewYes
True-up matchYes
Match vesting periodImmediately upon enrollment
EligibilityImmediately upon hire
Default deferral rate3%
Default investmentTarget-date Fund (all types)
Automatic escalationYes - participants are defaulted into auto escalation at time of enrollment unless they opt out; all other participants can opt in at any time
Systematic withdrawalsNo
Fee equalization
Match Rate100% of first 6% of salary
% receiving full matchMore than average (more than 50% but less than 75%)
Maximum employer contribution6%
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
RecordkeeperPrincipal
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