Plaskolite, LLC

FINALIST

Tess Sabo
Director of Compensation and Benefits

Location:

Columbus, Ohio
Industry:

Manufacturing
Plan(s) Offered:

401(k)
Plan Assets:

$179.7M
Number of Participants:

1,273
DC Plan Participation Rate:

93.7%
DC Plan Average Deferral Rate:

9.3%
Automatic Enrollment:

Yes
Automatic Escalation:

Yes
Default Deferral Rate for Auto-Enrollment:

6%
Default Investment Fund:

T. Rowe Price Retirement Blend trusts
DC Plan Employer Contribution:

50% of 6% + 3% nonelective
Recordkeeper:

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

Highland Consulting Associates Inc.
Financial Wellness Educator(s):

T. Rowe Price Retirement Plan Services Inc.

Plaskolite “applies a high-touch philosophy,” whether with long-time participants or new ones whose former employer, and plan, this producer of engineering thermoplastics had recently acquired, the nominator wrote. To provide access to personalized guidance, Plaskolite’s human resources and benefits teams offer on-site education such as one-on-ones and workshops where the recordkeeper ensures that employees understand the plan. To promote long-term financial health, the sponsor reduced loan options and instituted waiting periods. Plan governance benefits from high touch too, wherein the sponsor stresses ongoing fiduciary education, and the committee quarterly reviews the plan, from design to cybersecurity to fees, which it lowered four times in six years.

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