Re-enrolled participants saving below the default deferral rate (thus "boosting" their deferral rate) Which of the following types of re-enrollment did your plan take in the past 3 years? (Check all that apply.) Re-enrolled employees not participating in the plan (requiring them to opt-out again else be enrolled)
What is the default investment option used for automatic enrollment? Target Date Fund Risk-Based Fund Balanced Fund Managed Accounts Stable Value Fund Money Market Fund Other What is the automatic enrollment default deferral rate (as a percentage of salary)? 1% When are full-time employees eligible to participate in the plan? Immediately upon hireĭoes your plan offer automatic enrollment? Yes What is the average loan balance for participants with outstanding loans?$ What percent of plan participants currently have an open/outstanding loan? % Simple Traditional Match - i.e., 100% of first 3% of employee contribution or similar Simple Stretch Match - i.e., 50% of for first 6% of employee contributions or similar Tiered Match - i.e., 100% of the first 4% of employee contributions and 50% of the next 2%, or similar Multiple Formulas - i.e., plan has multiple match formulas that cover different segments of participants Fixed Dollar - i.e., $0.50 per dollar regardless of % employee contribution Other How much service time is required for a participant to be 100% vested in the match? Immediately upon enrollmentġ year or less 2 years 3 years 4 years 5 years More than 5 years Does your plan provide a profit sharing contribution? Yesĭoes your plan allow for Roth contributions? Yesĭoes your plan permit hardship withdrawals? Yesĭoes your plan permit participant loans? Yes What match is provided? Select the option below that most closely relates to your plan's match formula. Plan Design Data Does your plan match contributions?
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