| Plan name | BlackRock, Inc. / BlackRock Retirement Savings Plan |
| Location | New York, New York |
| Asset size | $2.8b |
| # of participants | 5,000–9,999 |
| Business Category | Financial Services |
| Participation Rate | 97% |
| Avg Deferral Rate | 10% |
| # of Funds Offered | 17 |
| Investment Review | Quarterly |
| True-up Feature | Yes |
| Match Vesting Period | 3 years |
| Eligibility | Immediate |
| Default Deferral Rate | 8% |
| Default Investment | Retail TDF (Index) |
| Auto-Escalation | Yes |
| Systematic Withdrawals | Yes |
| Fee Equalization | Not reported |
| Match Rate | 50% of the first 8% of pay, up to $5,000 per plan year |
| % Receiving Full Match | 50%–75% |
| Max Employer Contribution | 6.79% |
| Financial Education | |
| Saving/Budgeting | Yes |
| Investing strategies | Yes |
| Tax/Estate planning | Yes |
| College saving | Yes |
| Credit/Debt mgmt | Yes |
| Retiree health costs/savings options | Yes |
| Recordkeeper: | Bank of America/ Merrill Lynch |
FAQs
2020 Best in Class 401(k) Plans | PLANSPONSOR? ›
A profit sharing plan or stock bonus plan may include a 401(k) plan. A 401(k) Plan is a defined contribution plan that is a cash or deferred arrangement. Employees can elect to defer receiving a portion of their salary which is instead contributed on their behalf, before taxes, to the 401(k) plan.
What is a 401 K plan best described as group of answer choices? ›A profit sharing plan or stock bonus plan may include a 401(k) plan. A 401(k) Plan is a defined contribution plan that is a cash or deferred arrangement. Employees can elect to defer receiving a portion of their salary which is instead contributed on their behalf, before taxes, to the 401(k) plan.
What's the best 401(k) plan? ›Our picks at a glance
| Provider | Payroll integration | Administrative costs |
|---|---|---|
| Charles Schwab | N/A | Varies |
| ShareBuilder 401k | Yes | $95-$190/month, depending on plan |
| Fidelity Investments | Yes | $300/quarter for small business plans + employee costs ($25/quarter & 0.125% of account balance) |
| T. Rowe Price |
Jul 23, 2024
Best 401(k) plans
- Merrill Edge 401(k)
- Vanguard 401(k)
- Fidelity Investments 401(k)
- ADP 401(k)
- Betterment for Business 401(k)
- Charles Schwab 401(k)
Sep 6, 2024
So, Google has a very generous employer match on your 401k contributions. Currently, they will match 50% of your contributions all the way up to the IRS limit, which for 2023 is $22,500. So, what this means is that for every dollar that you contribute to the 401k, Google will contribute 50 cents.
Which of the following best describes a 401 K plan? ›A 401(k) plan is a company-sponsored retirement account in which employees can contribute a percentage of their income. Employers often offer to match at least some of these contributions.
What are the 2 basic types of 401k plans? ›The major types of 401(k) plans are traditional 401(k)s and Roth 401(k)s. Smaller employers may offer you a SIMPLE retirement account, or a safe harbor 401(k) plan.
Where is the safest place to put your 401k money? ›Bond funds, money market funds, index funds, stable value funds, and target-date funds are lower-risk options for your 401(k).
What is the best investment for 401k right now? ›Compare the Best 401(k) Investments
| 401(k) Fund | Expense Ratio | Average Annual Return/10 year |
|---|---|---|
| TAIFX | 0.68% | 6.16% |
| VWELX | 0.26% | 7.14% |
| PRDGX | 0.64% | 11.91% |
| FSELX | 0.65% | 27.62% |
Jul 12, 2024
If you think your tax rate will be lower when you begin taking withdrawals in retirement, traditional contributions may make sense. If your tax rate will be about the same (or higher), Roth contributions might be preferable.
Which company gives the highest 401k match? ›
What Are The Companies With Best 401k Match Plan?
- Edmunds. Edmunds, a prominent name in consumer vehicle guides, offers a 100 per cent match for employee's pre-tax and Roth 401k contributions, up to 6 per cent of their eligible salary.
- Flatfile. ...
- Activision Blizzard. ...
- Visa Inc. ...
- Uber. ...
- Comcast. ...
- Bosch USA. ...
- Samsung Electronics.
Feb 29, 2024
Amazon 401(k) Plan
For every $1 of employee contribution you make (up to 4% of your eligible pay), Amazon will contribute an additional $0.50 to your account in the form of matching contributions. You can get up to a 2% match.
Reminder: To get the full 5% match, make sure you contribute 5% of your total Eligible Compensation (this includes your Ongoing Compensation for the whole year, plus the cash portion of any Annual Incentive Compensation, generally paid in January or February).
What is a 401K defined as? ›A 401(k) is a feature of a qualified profit-sharing plan that allows employees to contribute a portion of their wages to individual accounts. Elective salary deferrals are excluded from the employee's taxable income (except for designated Roth deferrals). Employers can contribute to employees' accounts.
What is a 401K plan quizlet? ›401(K) Plan. An employer established plan similar to an individual retirement account (IRA). It gives a special tax break to employees who are saving primarily for retirement.
What is a 401K easily explained? ›A 401(k) is a tax-advantaged retirement plan that is set up and managed by an employer. Basically, you put money into the 401(k) where it can be invested and potentially grow tax free over time. In most cases, you choose how much money you want to contribute to your 401(k) based on a percentage of your income.
What is the 401 A plan? ›What is a 401(a) Plan? 401(a) plans are employer-sponsored defined contribution retirement plans available to governmental, for-profit and not-for-profit employers. While employers are not obligated to make contributions each year, there must be recurring and substantial contributions.