2022 Best in Class 401(k) Plans | Winner
Hyder Construction
![Best in Class 401(k) Plans](https://si-interactive.s3.amazonaws.com/prod/plansponsor-com/wp-content/uploads/2019/02/14113631/2019-BIC-401k-Plans-Profile-logo-.png)
Plan name | Hyder Construction |
Location | Denver, Colo. |
Asset size ($MM) | $5 million - $10 million |
Participants | 52 |
Industry | Building/Construction/Contracting |
Participation rate | 97% |
Average deferral rate | 9% |
# of funds offered | 19 |
Investment review | Yes |
True-up match | No |
Match vesting period | 2 years |
Eligibility | Within 3 months of employment |
Default deferral rate | 6% |
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 | Unsure /Don't Know |
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 | 4% |
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 |
Recordkeeper | Principal Financial Group |