American Family 401(k) Plan

Plan name American Family 401(k) Plan
LocationMadison, Wis.
Asset size ($MM)$1.9 Billion
Participants18,262
IndustryFortune 300/Insurance/Reinsurance
Participation rate94%
Average deferral rate8%
# of funds offered11
Investment reviewYes
True-up matchYes
Match vesting periodImmediately upon enrollment
EligibilityImmediately upon hire
Default deferral rate5%
Default investmentTarget-date Fund (all types)
Automatic escalationYes - but participation is voluntary and participants must opt in to auto escalation
Systematic withdrawalsYes
Fee equalizationYes – a policy is in place
Match Rate51%-99% of first 6% of salary
% receiving full matchAll or nearly all participants (90% or more)
Maximum employer contribution4%
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
RecordkeeperEmpower Retirement
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