Dawn Food Products

FINALIST

J. Brian Coleman
Vice President, Total Rewards

Location:

Jackson, Michigan
Industry:

Manufacturing and distribution
Plan(s) Offered:

401(k)
Plan Assets:

$238M
Number of Participants:

2,109
DC Plan Participation Rate:

96%
DC Plan Average Deferral Rate:

7.1%
Automatic Enrollment:

Yes
Automatic Escalation:

Yes
Default Deferral Rate for Auto-Enrollment:

3%
Default Investment Fund:

Great Gray American funds
DC Plan Employer Contribution:

100% of 5%
Recordkeeper:

Empower
Plan Adviser:

Bruce Lanser, senior retirement plan consultant, TruSource Advisors, a UBS Financial Services firm
Financial Wellness Educator(s):

Empower; Finfit; Telus; UBS; Welthy

Recognizing that personal financial demands affect retirement saving, Dawn Food Products, a family-owned baked goods producer, built an integrated total rewards framework linking health, financial well-being, advocacy and education benefits. It simplified plan design, enhanced communications and expanded personalized support, including one‑on‑one financial coaching, an emergency saving option, debt and budgeting tools, estate planning access and a guaranteed lifetime income feature. Targeted education helps ensure employees understand their benefits and optimize their use at each career stage. Dawn’s “Landing the Plane” initiative further supports near‑retirees with personalized guidance on retirement income, health care and the transition to retirement.

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