HF Sinclair

FINALIST

Dale Kunneman
Senior Vice President and Chief Human Resources Officer

Location:

Dallas, Texas
Industry:

Oil and gas
Plan(s) Offered:

401(k)
Plan Assets:

$1.3B
Number of Participants:

4,018
DC Plan Participation Rate:

97.2%
DC Plan Average Deferral Rate:

10.6%
Automatic Enrollment:

Yes
Automatic Escalation:

No
Default Deferral Rate for Auto-Enrollment:

6%
Default Investment Fund:

Great Gray Trust T. Rowe Price target-date funds
DC Plan Employer Contribution:

100% of 6% + nonelective based on years of service—from 3% for less than 5, to 8% for 20+
Recordkeeper:

Principal Financial Group
Plan Adviser:

MAI Capital Management
Financial Wellness Educator(s):

Principal Financial Group, Symonds Wealth Management

HF Sinclair, an independent petroleum refiner, “actively seek opportunities to improve outcomes,” its nominator wrote. In the past three years, the company updated its plan’s investment menu to strengthen performance and added the super catch-up provision. To ensure participants learn about such regulatory provisions that will benefit them, and plan features such as the nonelective contribution, 100% match of 6% of pay, automatic rebalancing and their retirement readiness score, it educates via a multichannel approach, from email to webinars. The sponsor completes weekly audits of deferrals and loans, and monthly audits of off-cycle checks. It quarterly reviews plan health, performance, fees, etc.

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