TimkenSteel Corporation SIP Plan
Plan Name | TimkenSteel Corporation SIP Plan |
Location | Canton, OH |
Asset Size | $298MM |
Number of Participants | 1,000 – 4,999 |
Business | Manufacturing – Industrial |
Participation rate | 96.4% |
Avg. deferral rate | 9.1% |
No. of funds offered | 11 |
Investment Review | Quarterly |
True-up feature | No |
Match Vesting Period | Immediate |
Eligibility | After 1 month |
Default deferral rate | 6.0% |
Default investment | Retail Target-Date Fund (Indexed) |
Auto-escalation | Opt-Out |
Systematic withdrawals | Yes |
Fee equalization | Not applicable |
Match Rate | 100% of first 3% of salary; 50% of the next 3% |
% receiving full match | 75% or more |
Max Employer Contribution | 5.5% – 9.0% |
Financial education: | |
Saving/budgeting | |
Investing strategies | Yes |
College saving | |
Credit/debt mgt | |
Tax/estate planning | |
Retiree health costs/savings options | |
Recordkeeper | Empower Retirement |