2018 Best In Class – Farm Credit Foundations Defined Contribution/401(k) Plan

Plan Name Farm Credit Foundations Defined Contribution/401(k) Plan
Location St. Paul, MN
Asset Size $2.65B
Number of Participants More than 10,000
Business Financial Services
Participation rate 98.0%
Avg. deferral rate 8.9%
No. of funds offered 16
Investment Review Quarterly
True-up feature No
Match Vesting Period 4 years
Eligibility Immediate
Default deferral rate 6.0%
Default investment Custom Target-Date Fund
Auto-escalation Opt-Out
Systematic withdrawals Yes
Fee equalization No applicable
Match Rate 100% of first 6% of salary
% receiving full match 75% or more
Max Employer Contribution 9.0%
   
Financial education:  
Saving/budgeting Yes
Investing strategies  
College saving  
Credit/debt mgt Yes
Tax/estate planning  
Retiree health costs/savings options Yes
   
Recordkeeper John Hancock Retirement Plan Services

«