Room & Board

FINALIST

Skye Seesz
Wellness Manager

Location:

Minneapolis, Minnesota
Industry:

Retail
Plan(s) Offered:

401(k); employee stock ownership plan
Plan Assets:

$174M
Number of Participants:

940
DC Plan Participation Rate:

92%
DC Plan Average Deferral Rate:

10%
Automatic Enrollment:

Yes
Automatic Escalation:

Yes
Default Deferral Rate for Auto-Enrollment:

6%
Default Investment Fund:

Principal RetireView, moderate aggressive portfolio
DC Plan Employer Contribution:

50% of 8%
Recordkeeper:

Principal Financial Group
Plan Adviser:

Abbey Street
Financial Wellness Educator(s):

NFP

For modern furniture retailer Room & Board, providing expert advice is key to participants’ financial wellness and saving success. Its dedicated financial adviser aims to travel to each of the company’s 36 U.S. locations biannually, offering group education and individualized consultations. Managers actively support and schedule time for employees to participate, to make financial planning a normal, expected part of the employee experience, the plan sponsor wrote. Additionally, staff may receive six financial coaching sessions a year through the sponsor’s mental health platform. Staff are encouraged to work with both a financial adviser and a financial coach.

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