Morgan Adhesives Company, LLC

FINALIST

Hollie Eastin
Director Benefits and Compensation

Location:

Stow, Ohio
Industry:

Manufacturing
Plan(s) Offered:

401(k), with profit-sharing
Plan Assets:

$102M
Number of Participants:

1,026
DC Plan Participation Rate:

92%
DC Plan Average Deferral Rate:

9.2%
Automatic Enrollment:

Yes
Automatic Escalation:

Yes
Default Deferral Rate for Auto-Enrollment:

6%
Default Investment Fund:

Vanguard Target Retirement
DC Plan Employer Contribution:

75% of 6% + 25% of next 2%
Recordkeeper:

ADP
Plan Adviser:

Wealth Impact Advisors
Financial Wellness Educator(s):

Wealth Impact Advisors

In 2024, the plan committee at “MACtac,” a producer of surface adhesives, conducted an extensive benchmarking study, finding that, in nearly every measurable category, its plan met or exceeded prevailing industry best practices. The nominator credits a decade of consistent efforts, including education to discourage early withdrawals and the committee’s ongoing attention to reducing plan fees. The MACtac 401(k) has an average saving rate of 9.2%, a hardship withdrawal rate of just 1.7%—nearly 3% below benchmark—and over 97% of its 1,000-plus participants are invested in diversified solutions.

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