PLANSPONSOR - February/March 2019 - 34

PLAN SPONSOR
FINALISTS
Corporate 401(k) Plan >$25mm - $50mm Finalists
LLOG Exploration Company, LLC Covington, Louisiana
Several years ago, LLOG Exploration Company, LLC, which focuses on deep-water oil exploration in
the Gulf of Mexico, invested considerable time scrutinizing top-tier retirement plans to learn how to best
prepare its participants for retirement. The company retained an adviser from UBS Financial Services to
come on-site at least twice a year to review accounts on an individual basis and supply group education
as needed. UBS was selected for its specific knowledge of retirement plans and dedication to ensuring
employees were invested in the correct risk profile for their age and asset level. Today, the plan has a
94.9% participation rate and an 11.6% average deferral rate; 85% of participants contribute 15% or
more. The company is on a mission to have each employee financially prepared for retirement and will
match their deferrals dollar for dollar up to 8%. The sponsor does not allow plan loans. The average
participant balance is $300,000. RECORDKEEPER: Fidelity Investments; ADVISER: UBS Financial Services
OneAZ Credit Union Phoenix, Arizona
The OneAZ Credit Union 401(k) plan committee is dedicated to providing a vehicle by which workers can
successfully retire. In 2016, it implemented automatic features, and simultaneously re-enrolled participants
contributing under the 6% automatic enrollment rate. The plan auto escalates participants, and one-onone
sessions are available throughout the year. It offers paid time to attend these sessions and group
meetings. OneAZ offers a discretionary match of 50% on 5% plus a discretionary contribution of 2.5% of
gross pay for employees not eligible for the defined benefit plan. Forty-seven percent of employees have
a projected income replacement ratio of 70% or better, and 79% should replace at least 50%. The plan's
participation rate is 95% and the average deferral rate is 7.3%. The committee performs investment and
administrative reviews quarterly and conducts fee reviews and qualified default investment alternative
(QDIA) analyses annually. RECORDKEEPER: Principal; ADVISER: Retirement Benefit Group
Smithers-Oasis Company Kent, Ohio
Smithers-Oasis Company is an industry leader in the development and manufacturing of foam and accessory
products for the floral industry. Similar to many manufacturing firms, it employs a diverse group of
personnel in terms of age and education. As early as 2010, the retirement plan committee began challenging
the company's traditional views of the retirement program. It asked what more it could do, by
using plan design, investment, and communication best practices, to improve outcomes for participants. The
committee recognized that it would likely need to enact bold changes cumulatively, over time. Nine years
later, these plan design enhancements, along with educational reinforcements, have produced a plan that
boasts over 94.4% participation and an average deferral rate of 8.6%. The most important metric to the
committee is that 78% of participants are on target to replace over 80% of their income once they retire.
RECORDKEEPER/THIRD-PARTY ADMINISTRATOR: TransAmerica; ADVISER: Wealth Impact Advisors, LLC
Taylor Guitars El Cajon, California
The owners/founders of Taylor Guitars, a producer and seller of high-end acoustic instruments, believe
all employees should retire well. They support this belief by matching 100% up to 5% of participants'
deferrals, plus making a profit-sharing contribution. Most of the employee base is under age 30 and has
only a high school education. In addition, most are hourly employees, without a company email account.
With the help of the plan's 401(k) adviser, Retirement Benefits Group, the plan has implemented qualified
default investment alternative (QDIA) asset-allocation models, with both age and risk factored into
the investment mix. The plan also deploys fee levelization and uses automatic features. As of this past
September 30, of the 422 eligible participants, 89.3% are participating with a 7.9% average deferral
rate. Of participants age 34 and under, 81% are on the path to retirement readiness. RECORDKEEPER:
Principal; ADVISER: Retirement Benefits Group
34 PLANSPONSOR.com February - March 2019
Kemberlia Ducote,
chief administrative and
accounting officer
Michael Emanuelli, executive
vice president, chief
administrative officer
Jim Stull,
chief financial officer
Bryan Bear,
vice president of finance

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