Veridian Credit Union
Plan name | Veridian Credit Union |
Location | Waterloo, Iowa |
Asset size ($MM) | >$100 million - 200 million |
Participants | 950 |
Industry | Financial – credit union |
Participation rate | 97% |
Average deferral rate | 8% |
# of funds offered | 38 |
Investment review | Yes |
True-up match | Yes |
Match vesting period | 5 years |
Eligibility | Immediately upon hire |
Default deferral rate | 5% |
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 | Yes |
Fee equalization | Yes – a policy is in place |
Match Rate | 100% of first 6% of salary |
% receiving full match | Vast majority |
Maximum employer contribution | 5% |
Financial Education | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | |
Credit/Debt management | Yes |
Tax/Estate planning | |
Retiree health costs/savings options​ | Yes |
Recordkeeper | Empower Retirement |