Toyota Tsusho America, Inc.

FINALIST

Gerry Beckett
Vice President

Location:

New York, New York
Industry:

Wholesale
Plan(s) Offered:

401(k)
Plan Assets:

$352.4M
Number of Participants:

2,634
DC Plan Participation Rate:

95%
DC Plan Average Deferral Rate:

8.5%
Automatic Enrollment:

Yes
Automatic Escalation:

Yes
Default Deferral Rate for Auto-Enrollment:

6%
Default Investment Fund:

Vanguard Target Retirement Trust II Series
DC Plan Employer Contribution:

50% of 6% + 3% nonelective
Recordkeeper:

The Vanguard Group
Plan Adviser:

Hub Retirement and Wealth Management
Financial Wellness Educator(s):

Hub; The Vanguard Group

Toyota Tshusho America aims to make things better. A provider of solutions and services to manufacturers, the company applied that mindset to strengthening its retirement program. It provides profit-sharing for eligible employees, even noncontributors to the plan, so all have a foundation to build savings on. It also reduced the company match eligibility requirement to boost early participation and engagement, raised the automatic escalation cap and lowered plan fees. Enhanced technology with AI modeling capabilities allows greater personalization to help participants make decisions.

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