Allianz Asset Accumulation Plan
Plan Name | Allianz Asset Accumulation Plan |
Location | Golden Valley, MN |
Asset Size | $1.5B |
Number of Participants | 5,000 – 9,999 |
Business | Insurance / Reinsurance |
Participation rate | 95.0% |
Avg. deferral rate | 10.0% |
No. of funds offered | 15 |
Investment Review | Quarterly |
True-up feature | Yes |
Match Vesting Period | 3 years |
Eligibility | Immediate |
Default deferral rate | 3.0% |
Default investment | Retail Target-Date Fund (Active Management) |
Auto-escalation | Opt-Out |
Systematic withdrawals | No |
Fee equalization | Not applicable |
Match Rate | 100% of first 7.5% of salary |
% receiving full match | 75% or more |
Max Employer Contribution | ≥7.5% |
Financial education: | |
Saving/budgeting | Yes |
Investing strategies | Yes |
College saving | Yes |
Credit/debt mgt | Yes |
Tax/estate planning | Yes |
Retiree health costs/savings options | Yes |
Recordkeeper | Alight Solutions |