Toyota Motor North America, Inc.

FINALIST

Chris Thelen
Benefits and Compensation Group Manager

Location:

Plano, Texas
Industry:

Manufacturing
Plan(s) Offered:

401(k); defined benefit; nonqualified
Plan Assets:

401(k) – $14.5B; DB – $4.5B; NQ – $422M
Number of Participants:

401(k) – 50,119; DB – 14,412; NQ – 781
DC Plan Participation Rate:

92%
DC Plan Average Deferral Rate:

6.7%
Automatic Enrollment:

Yes
Automatic Escalation:

Yes
Default Deferral Rate for Auto-Enrollment:

6%
Default Investment Fund:

Vanguard target-date funds
DC Plan Employer Contribution:

66 2/3% of 6% + 5% or 6%, depending on age
Recordkeeper:

 401(k) and NQ – Fidelity Investments; DB – Willis Towers Watson
Plan Adviser:

N/A
Financial Wellness Educator(s):

Fidelity Investments

Toyota offers a generous 401(k) with a strong match and age‑based nonelective contributions. Employees are automatically enrolled at a level designed to maximize the company match, with automatic escalation continuing uncapped unless the participant opts out. Last year, Toyota added an emergency savings program, offering a $50 account‑opening incentive, and matching $100 for every $200 saved, up to $500 annually, for qualifying participants.

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