Musco Corp.

Plan name Musco Corp.
LocationOskaloosa, Iowa
Asset size ($MM)$300 million
Participants1,375
IndustryManufacturing
Participation rate96%
Average deferral rate9%
# of funds offered16
Investment reviewYes
True-up matchYes
Match vesting periodImmediately upon enrollment
EligibilityImmediately upon hire
Default deferral rate4%
Default investmentRisk-based Lifestyle 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 equalizationNo, but we are currently trying to understand the impact and may develop one in the future
Match Rate100% of first 6% of salary
% receiving full matchAll or nearly all participants (90% or more)
Maximum employer contribution4%
Financial Education
Saving/Budgeting
Investing strategies
College saving
Credit/Debt management
Tax/Estate planning
Retiree health costs/savings options​
RecordkeeperPrudential Retirement
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