Simpson Manufacturing Co., Inc.

FINALIST

Jen Curran
Manager, Total Rewards

Location:

Pleasanton, California
Industry:

Manufacturing
Plan(s) Offered:

401(k), with profit sharing
Plan Assets:

$512.2M
Number of Participants:

3,452
DC Plan Participation Rate:

93.3%
DC Plan Average Deferral Rate:

6.6%
Automatic Enrollment:

Yes
Automatic Escalation:

Yes
Default Deferral Rate for Auto-Enrollment:

3%
Default Investment Fund:

Vanguard Institutional Target Retirement funds
DC Plan Employer Contribution:

3% quarterly nonelective + annual discretionary profit-sharing
Recordkeeper:

The Vanguard Group
Plan Adviser:

WTW – Newfront Insurance Services
Financial Wellness Educator(s):

Origin; The Vanguard Group

Simpson Manufacturing produces building supplies and, over the years, has constructed a solid plan. Before the advent of target-date funds, it offered custom, age-based portfolios. And, as industry wages are comparatively low, it gives each new participant a 10% nonelective contribution. In 2017, it followed the introduction of automatic enrollment for new hires with a reenrollment of all other nonparticipants. Participation climbed from 41% then to 93% this year. Simpson pays all administrative plan expenses and provides low-cost index funds as core investment options and watches for opportunities to upgrade to lower-cost shares.

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