BNY Mellon
| Plan name | BNY Mellon |
| Location | New York, N.Y. |
| Asset size ($MM) | >$8 billion |
| Participants | 44,000 |
| Industry | Financial services |
| Participation rate | 95% |
| Average deferral rate | 10% |
| # of funds offered | 20 |
| Investment review | Yes |
| True-up match | Yes |
| Match vesting period | 3 years |
| Eligibility | Immediately upon hire |
| Default deferral rate | more than 6% |
| 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 |
| Match Rate | 51%-99% of first 6% of salary |
| % receiving full match | Not Reported |
| Maximum employer contribution | 7%-9% |
| 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 | Voya Financial |
Get the latest news daily