Fayette County Public Schools

FINALIST

Melanie Griffin
Benefits Coordinator

Location:

Fayetteville, Georgia
Industry:

Education
Plan(s) Offered:

403b; 457s; State of Georgia DB plans – Public School Employees Retirement System and Teachers Retirement System
Plan Assets:

$71.7M
Number of Participants:

2,800 (total)
DC Plan Participation Rate:

71%
DC Plan Average Deferral Rate:

4.3%
Automatic Enrollment:

Yes
Automatic Escalation:

No
Default Deferral Rate for Auto-Enrollment:

3%
Default Investment Fund:

Moderate risk model portfolio primarily of Vanguard Funds
DC Plan Employer Contribution:

100% of 3%, for employees covered by PSERS of Georgia
Recordkeeper:

Corebridge Financial
Plan Adviser:

Clear Concepts Consulting Group
Financial Wellness Educator(s):

Clear Concepts Consulting Group

Last fall, for its defined contribution plan, Fayette County Public Schools rolled out a 100% of 3% employer match for employees covered by the state’s Public School Employees Retirement System. The change was announced by video and further explained in small-group meetings at each school and worksite; participants received personalized statements showing their 3% contribution and its match. Advisers were also on hand to give one-on-one assistance to employees wanting to make changes to their account, or to enroll, and communications were sent in three languages, to inform the dispersed, multilingual workforce about the new plan feature.

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