2023 Best in Class 401(k) Plans | Winner
CoBank, ACB Employee Savings Plan
| Plan name | CoBank, ACB Employee Savings Plan |
| Location | Greenwood Village, Colorado |
| Asset size ($MM) | $500 million - $1 billion |
| Participants | 1,000 - 4,999 |
| Industry | Financial Services |
| Participation rate | 96% |
| Average deferral rate | 10% |
| # of funds offered | 28 |
| Investment review | Quarterly |
| True-up match | Yes |
| Match vesting period | Immediately upon enrollment |
| Eligibility | Within 3 months of employment |
| Default deferral rate | 5.6-6% |
| Default investment | Target-date Fund (all types) |
| Automatic escalation | Exactly 1% |
| Systematic withdrawals | Yes |
| 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 | Yes |
College saving | No |
Credit/Debt management | Yes |
Tax/Estate planning | No |
Retiree health costs/savings options​ | No |
| Recordkeeper | T. Rowe Price |
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