Blue Cross Blue Shield of Louisiana

Plan name Blue Cross Blue Shield of Louisiana
LocationBaton Rouge, La.
Asset size ($MM)$500 million - $1 billion
Participants3,600
IndustryInsurance/Reinsurance
Participation rate99%
Average deferral rate9%
# of funds offered13
Investment reviewYes
True-up matchYes
Match vesting period3 years
EligibilityWithin 3 months of employment
Default deferral rate6%
Default investmentTarget-date Fund (all types)
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 equalization
Match Rate50% of first 6% of salary
% receiving full matchVast majority (75% or more)
Maximum employer contribution3%
Financial Education
Saving/Budgeting
Yes
Investing strategies
Yes
College saving
Yes
Credit/Debt management
Yes
Tax/Estate planning
Yes
Retiree health costs/savings options​
RecordkeeperFidelity Investments
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