National Federation of Independent Business

FINALIST

Sara Udulutch
Employee Benefits Director

Location:

Nashville, Tennessee
Industry:

Professional services
Plan(s) Offered:

401(k)
Plan Assets:

$126M
Number of Participants:

800
DC Plan Participation Rate:

94%
DC Plan Average Deferral Rate:

9%
Automatic Enrollment:

Yes
Automatic Escalation:

Yes
Default Deferral Rate for Auto-Enrollment:

3%
Default Investment Fund:

JP Morgan SmartRetirement fund
DC Plan Employer Contribution:

100% of 2% + 50% of next 6%
Recordkeeper:

J.P. Morgan Asset Management
Plan Adviser:

Strategic Retirement Partners
Financial Wellness Educator(s):

Not reported

Over the past 36 months, NFIB implemented several initiatives to enhance governance, risk management and participant outcomes. Last year, the investment committee conducted a deep review of the plan’s stable value option, evaluating liquidity, crediting rates and market value adjustment risk. To improve yield and reduce complexity, the stable value fund was replaced with a higher‑yielding money market option offering daily liquidity. The NFIB, a political advocacy organization representing independent and small businesses, also provides proactive support for participants entering distribution—e.g., required minimum distribution outreach and beneficiary reviews. Annual live-bid benchmarking further ensures competitive pricing, strong fiduciary oversight and attention to the plan’s design and value.

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