Kuiken Brothers Company, Inc.

FINALIST

Tom Tubridy
Chief Financial Officer

Location:

Fair Lawn, New Jersey
Industry:

Retail
Plan(s) Offered:

401(k)
Plan Assets:

$67.1M
Number of Participants:

385
DC Plan Participation Rate:

89.3%
DC Plan Average Deferral Rate:

8.8%
Automatic Enrollment:

Yes
Automatic Escalation:

Yes
Default Deferral Rate for Auto-Enrollment:

4%
Default Investment Fund:

T. Rowe Price Retirement Blend Trusts-A
DC Plan Employer Contribution:

50% of 7% + profit-sharing
Recordkeeper:

T. Rowe Price Retirement Plan Services Inc.
Plan Adviser:

N/A
Financial Wellness Educator(s):

T. Rowe Price Retirement Plan Services Inc.

Over the past two years, building supplies retailer Kuiken Brothers Company has taken several steps to improve plan effectiveness. Besides implementing target-date blended funds as the qualified default investment alternative, lowering participants’ investment fees, it added a new product that personalizes the TDF’s investment selections for each participant’s financial situation and risk tolerance. It also adopted a managed payout program, to generate a steady cash flow in retirement, alongside the systematic withdrawal option. Leadership attend on-site educational meetings to encourage greater saving. Employees defer, on average, almost 9% of their pay.

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