National Grid

Plan name National Grid
LocationBrooklyn, N.Y.
Asset size ($MM)>$1 billion
Participants17,500
IndustryUtilities
Participation rate95%
Average deferral rate12%
# of funds offered10
Investment reviewYes
True-up matchYes
Match vesting period3 years
EligibilityWithin 3 months of employment
Default deferral rate8%
Default investmentTarget-date Fund (all types)
Automatic escalationYes - but participation is voluntary and participants must opt in to auto escalation
Systematic withdrawalsYes
Fee equalizationNo, and we have no plans to research this in the short-term
Match Rate51%-99% of first 6% of salary
% receiving full matchVast majority (75% or more)
Maximum employer contribution12%
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
RecordkeeperVanguard
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