BNY Mellon

Plan name BNY Mellon
LocationNew York, N.Y.
Asset size ($MM)>$8 billion
Participants44,000
IndustryFinancial services
Participation rate95%
Average deferral rate10%
# of funds offered20
Investment reviewYes
True-up matchYes
Match vesting period3 years
EligibilityImmediately upon hire
Default deferral ratemore than 6%
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 Rate51%-99% of first 6% of salary
% receiving full matchNot Reported
Maximum employer contribution7%-9%
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
RecordkeeperVoya Financial
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