Van Andel Institute

Plan name Van Andel Institute
LocationGrand Rapids, Mich.
Asset size ($MM)$50 million - $100 million
Participants634
IndustryLife science, research and education
Participation rate95%
Average deferral rate8%
# of funds offered18
Investment reviewYes
True-up matchYes
Match vesting period3 years
EligibilityImmediately upon hire
Default deferral rate5%
Default investmentBalanced Fund
Automatic escalationYes - participants are defaulted into auto escalation at time of enrollment unless they opt out; all other participants can opt in at any time
Systematic withdrawalsYes
Fee equalizationNo, and we have no plans to research this in the short-term
Match Rate100% of first 6% of salary
% receiving full matchMore than average (more than 50% but less than 75%)
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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