United Farmers Cooperative

Plan name United Farmers Cooperative
LocationWinthrop, Minnesota
Asset size ($MM)$25 million - $50 million
Participants100 - 499
IndustryAgriculture
Participation rate91%
Average deferral rate7%
# of funds offered25
Investment reviewTwice a year
True-up matchUnsure / Don't Know
Match vesting periodImmediately upon enrollment
EligibilityWithin 3 months of employment
Default deferral rate4.6-5%
Default investmentTarget-date Fund (all types)
Automatic escalationExactly 1%
Systematic withdrawalsYes
Fee equalization
Match Rate51%-99% of first 6% of salary
% receiving full matchAll or nearly all participants (90% or more)
Maximum employer contribution4%
Financial Education
Saving/Budgeting
Yes
Investing strategies
Yes
College saving
No
Credit/Debt management
No
Tax/Estate planning
Yes
Retiree health costs/savings options​
No
RecordkeeperJohn Hancock
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