Wimberly Allison Tong & Goo Inc.

FINALIST

Sandra Whipp
Chief Talent Officer

Location:

Tustin, California
Industry:

Professional services
Plan(s) Offered:

401(k)
Plan Assets:

$57M
Number of Participants:

373
DC Plan Participation Rate:

95.6%
DC Plan Average Deferral Rate:

9.6%
Automatic Enrollment:

Yes
Automatic Escalation:

Yes
Default Deferral Rate for Auto-Enrollment:

6%
Default Investment Fund:

T. Rowe Price target-date funds
DC Plan Employer Contribution:

100% of 1% + 50% of next 5%
Recordkeeper:

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

CAPTRUST 
Financial Wellness Educator(s):

T. Rowe Price Retirement Plan Services Inc.; CAPTRUST

Plan participation at Wimberly Allison Tong & Goo, a global architectural, planning and design firm, was 73%, so the sponsor undertook a program to rapidly raise it. The plan changed to a 3(38) adviser—a key step, the sponsor wrote. It added automatic enrollment at 6% for newly hired employees, with 1% automatic escalation up to 12%; reduced its vesting schedule to 100% after one year; switched from three-month to immediate eligibility; and raised its employer match. The rollout of a financial wellness and advice service to participants included one-on-ones and group meetings with an employee adviser, plus retirement planning “blueprints” for participants.

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