Karsten Manufacturing Corp.

Plan name Karsten Manufacturing Corp.
LocationPhoenix, Ariz.
Asset size ($MM)>$200 million-$300 million
Participants1,096
IndustryManufacturing
Participation rate98%
Average deferral rate11%
# of funds offered20
Investment reviewYes
True-up matchYes
Match vesting period3 years
EligibilityImmediately upon hire
Default deferral rate6%
Default investmentOther: Appropriate target maturity date fund
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 withdrawalsYes
Fee equalizationYes – a policy is in place
Match Rate50% of first 6% of salary
% receiving full matchAll or nearly all participants (90% or more)
Maximum employer contribution5%
Financial Education
Saving/Budgeting
Yes
Investing strategies
Yes
College saving
Credit/Debt management
Yes
Tax/Estate planning
Yes
Retiree health costs/savings options​
RecordkeeperCharles Schwab
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