MDU Resources Group, Inc.

FINALIST

Roxanne Roerick
Director Human Resources

Location:

Bismarck, North Dakota
Industry:

Utility
Plan(s) Offered:

401(k), with profit sharing
Plan Assets:

$825M
Number of Participants:

2,050
DC Plan Participation Rate:

95%
DC Plan Average Deferral Rate:

11.5%
Automatic Enrollment:

Yes
Automatic Escalation:

Yes
Default Deferral Rate for Auto-Enrollment:

6%
Default Investment Fund:

T. Rowe Price Retirement target-date fund collective investment trusts
DC Plan Employer Contribution:

100% of 4% + 5% nonelective + 3% profit-sharing
Recordkeeper:

Principal Financial Group
Plan Adviser:

Wilshire
Financial Wellness Educator(s):

Edelmann Financial Engines

In its highly regulated industry, MDU Resources, a provider of electricity and natural gas utility services and construction, understands compliance and is careful that its retirement plan operations align with plan documents and are up to date with regulations. Its attention to detail was visible in its “exceptional execution during a complex corporate spin-off in 2024 when a new stock entered the plan. [This included a mindful] strategy to minimize volatility and protect participant value,” its nominator wrote. It defaults new participants at 6% and replaced its tiered match with a lower, 100% match so more could capture the full benefit.

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