2022 Best in Class 401(k) Plans | Winner
The International Association of Lions Clubs
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Plan name | The International Association of Lions Clubs |
Location | Oak Brook, Ill. |
Asset size ($MM) | $25 million - $50 million |
Participants | 415 |
Industry | Industry association |
Participation rate | 78% |
Average deferral rate | 8% |
# of funds offered | 13 |
Investment review | Yes |
True-up match | Yes |
Match vesting period | Immediately upon enrollment |
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 | Yes – a policy is in place |
Match Rate | 100% of first 6% of salary |
% receiving full match | Unsure/Don't Know |
Maximum employer contribution | 6% |
Financial Education | |
Saving/Budgeting | Yes |
Investing strategies | Yes |
College saving | |
Credit/Debt management | |
Tax/Estate planning | |
Retiree health costs/savings options​ | Yes |
Recordkeeper | Transamerica |