NXP 401(k) Retirement Plan
| Plan name | NXP 401(k) Retirement Plan |
| Location | Austin, Texas |
| Asset size ($MM) | $3.5 billion |
| Participants | 8,500 |
| Industry | Technology/Computers/Software |
| Participation rate | 95% |
| Average deferral rate | 10% |
| # of funds offered | 14 |
| Investment review | Yes |
| True-up match | Yes |
| Match vesting period | Immediately upon enrollment |
| 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 | All or nearly all participants (90% or more) |
| Maximum employer contribution | 5% |
| Financial Education | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | |
Credit/Debt management | Yes |
Tax/Estate planning | Yes |
Retiree health costs/savings options​ | Yes |
| Recordkeeper | Fidelity Investments |
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