SEMCO Energy, Inc.

Plan name SEMCO Energy, Inc.
LocationPort Huron, Mich.
Asset size ($MM)$227 million
Participants650
IndustryEnergy
Participation rate96%
Average deferral rate10%
# of funds offered17
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 withdrawalsNot Reported
Fee equalizationYes – a policy is in place
Match Rate51%-99% of first 6% of salary
% receiving full matchNot Reported
Maximum employer contributionNot Reported
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
RecordkeeperT. Rowe Price
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