2022 Best in Class 401(k) Plans | Winner
Blue Cross Blue Shield of Louisiana
![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 | Blue Cross Blue Shield of Louisiana |
Location | Baton Rouge, La. |
Asset size ($MM) | $500 million - $1 billion |
Participants | 3,600 |
Industry | Insurance/Reinsurance |
Participation rate | 99% |
Average deferral rate | 9% |
# of funds offered | 13 |
Investment review | Yes |
True-up match | Yes |
Match vesting period | 3 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 | Yes |
Fee equalization |
Match Rate | 50% of first 6% of salary |
% receiving full match | Vast majority (75% or more) |
Maximum employer contribution | 3% |
Financial Education | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | Yes |
Credit/Debt management | Yes |
Tax/Estate planning | Yes |
Retiree health costs/savings options​ |
Recordkeeper | Fidelity Investments |