PLANSPONSOR - April/May 2020 - 34

AWARDS 2020 PLAN SPONSOR OF THE YEAR FINALISTS
Richard Takahashi, former
Benefits Manager, Webcor
Builders, Inc.
Rick Ream, Vice President
Human Resources, Yancey
Bros. Co.
Stephanie Griffin, Senior
Relationship Manager, Employee
Benefits, Coca-Cola Bottlers
Association
Webcor Builders, Inc.
San Francisco, California
PLAN: 401(k). PLAN ASSETS: $106mm. PARTICIPANTS: 1,008. PARTICIPATION
RATE: 95.6%. AVERAGE DEFERRAL RATE: 8.6%. EMPLOYER
CONTRIBUTION: 100% of 5%, plus profit sharing. RECORDKEEPER:
Empower Retirement. ADVISER: Pensionmark.
Webcor Builders, Inc., often hires engineers straight out of
college-and many care more about paying off student debt than
saving for retirement. To help them do both, Webcor launched
an initiative whereby they may defer 5% to either a lender's
student loan account or its own 401(k), or split the percentage
between them; Webcor matches the 5% as it was allotted.
The company changed investment adviser to Pensionmark,
which brings in representatives annually, offering educational
seminars and one-on-ones. Recently, Webcor went through an
investment conversion, reducing fees by half. " In doing so, we
got a better set of investments that are [less expensive], " says
former Benefits Manager Richard Takahashi. -AU
Yancey Bros. Co.
Austell, Georgia
PLAN: 401(k). PLAN ASSETS: $144mm. PARTICIPANTS: 1,614. PARTICIPATION
RATE: 91.6%. AVERAGE DEFERRAL RATE: 8.5%. EMPLOYER
CONTRIBUTION: 50% of 12% for employees 55-plus; 50% of 8% for
the rest. RECORDKEEPER: T. Rowe Price. ADVISER: Retirement Fund
Management.
Yancey Bros. Co. is a fourth-generation family-run Caterpillar
dealer with an ongoing challenge of recruiting talent for its
small-town facilities. The company values its workers-45% of
whom are technicians and mechanics. Many are blue collar and
high-school-educated, unversed in retirement planning. " Most
won't use online features, so the goal was to have someone in
person, " notes Rick Ream, vice president of human resources.
The company, with its adviser's help, instituted a financial
coaching program. Retirement Fund Management advisers
coach employees one-on-one, taking them through Yancey Bros.'
401(k) website. The dealer offers two separate matches for its
workers, based on their age. Holistic health and lifestyle wellness
services include meetings with a certified health coach. -AU
34 PLANSPONSOR.COM April - May 2020
Mary Ann Edwards, Manager,
Total Rewards, JTEKT North
America
Corporate 401(k) >$250mm - $1b Finalists
Coca-Cola Bottlers Association
Atlanta, Georgia
PLAN: 401(k). PLAN ASSETS: $775mm. PARTICIPANTS: 16,000-plus.
PARTICIPATION RATE: 71%. AVERAGE DEFERRAL RATE: 6%. EMPLOYER
CONTRIBUTION: Varies by plan, from 3% to 15%, plus profit sharing.
RECORDKEEPER: Wells Fargo. ADVISER: AFS Advisors.
Providing tailored education and communication to over
16,000 participants at 31 organizations is no simple task. But
the multiemployer plan sponsored by the Coca-Cola Bottlers
Association (CCBA) has it down to a science. The CCBA plan
has a single fund lineup and qualified default investment alternative
for all bottler divisions, but each bottler chooses its own
plan design. Some bottlers have multiple designs due to union
groups or legacy employees, so the plan has 40 unique subdivisions.
As the plan grew, it reduced fees by almost $1 million,
with all 31 bottlers accepting institutional pricing as the new
structure. CCBA also was able to review and lower fees with its
recordkeeper and other service partners. -CH
JTEKT North America
Greenville, South Carolina
PLAN: 401(k). PLAN ASSETS: $394mm. PARTICIPANTS: 5,692. PARTICIPATION
RATE: 96.8%. AVERAGE DEFERRAL RATE: 7%. EMPLOYER
CONTRIBUTION: 100% of 4%, plus 50% of the next 2%. RECORDKEEPER:
Prudential. ADVISER: CBIZ Retirement Plan Services.
JTEKT North America, an engineering and manufacturing
solutions company, uses plan design features that combat participant
inertia; still, the sponsor wants its employees engaged in
retirement planning. To that end, JTEKT uses several products
from its recordkeeper: LINK, a digital program helps connect
employees with solutions to meet their financial goals. And
GoalMaker adjusts employees' asset allocation as they near
retirement. In October, JTEKT added Prudential's IncomeFlex
Target, a guaranteed withdrawal benefit solution. The company
has many employees approaching retirement, " so this product
is very interesting to them, " says Mary Ann Edwards, manager,
total rewards. -CH
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