2023 Best in Class 401(k) Plans | Winner
Ingevity Corporation
| Plan name | Ingevity Corporation |
| Location | North Charleston, South Carolina |
| Asset size ($MM) | $200 million - $500 million |
| Participants | 1,000 - 4,999 |
| Industry | Chemicals/Mining, Manufacturing - Industrial Products |
| Participation rate | 95% |
| Average deferral rate | 9% |
| # of funds offered | 17 |
| Investment review | Quarterly |
| True-up match | No |
| Match vesting period | Immediately upon enrollment |
| Eligibility | Immediately upon hire |
| Default deferral rate | 6% |
| Default investment | Target-date Fund (all types) |
| Automatic escalation | Exactly 1% |
| Systematic withdrawals | Unsure /Don't Know |
| Fee equalization |
| Match Rate | 100% of first 6% of salary |
| % receiving full match | All or nearly all participants (90% or more) |
| Maximum employer contribution | 6% |
| Financial Education | |
Saving/Budgeting | Yes |
Investing strategies | No |
College saving | No |
Credit/Debt management | Yes |
Tax/Estate planning | No |
Retiree health costs/savings options​ | Yes |
| Recordkeeper | Empower Retirement |
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