|
Plan name
|
Franklin Templeton 401(k) Retirement Plan
|
|
Location
|
San Mateo, California
|
|
Asset size
|
$1.32B
|
| Participants
|
>5,300
|
|
Industry
|
Financial Services
|
|
Participation rate
|
92%
|
|
Average deferral rate
|
12.3%
|
|
# of funds offered
|
28
|
|
Investment review
|
Quarterly
|
|
True-up match
|
No
|
|
Match vesting period
|
3 years (graded)
|
|
Eligibility
|
First day of the month coinciding with or following date of hire
|
|
Default deferral rate
|
6%
|
|
Default investment
|
Institutional Target-date Fund (Active or Indexed)
|
|
Automatic escalation
|
Opt-out
|
|
Systematic withdrawals
|
Yes
|
|
Fee equalization
|
Not applicable
|
|
|
|
|
Match rate
|
75% of every dollar contributed with no cap, including catch-up contributions
|
|
% receiving full match
|
50% – 75%
|
|
Maximum employer contribution
|
>10%
|
|
|
|
|
Financial education:
|
|
|
Saving/Budgeting
|
Yes
|
|
Investing strategies
|
Yes
|
|
College saving
|
Yes
|
|
Credit/Debt management
|
Yes
|
|
Tax/Estate planning
|
Yes
|
|
Retiree health costs/savings options
|
Yes
|
|
|
|
|
Recordkeeper
|
Bank of America Merrill Lynch
|
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