National Grid’s 401(k) Plan Gets “Best in Class” Award

By Darlene Masse

 

 

As an investment vehicle, 401(k) plans are an important way that employees save for retirement. The plans are also a major benefit for attracting and retaining employees, and can differ significantly among companies.

So, it’s worth noting that National Grid has won a 2017 “Best in Class” award for our 401(k) plan. National Grid was one of 34 winners to receive this designation, after PLANSPONSOR evaluated the 401(k) plans of approximately 3,400 companies across the US and ranked them against more than 30 criteria. PLANSPONSOR is a leading authority on retirement and benefits programs and is dedicated to helping employers navigate the complex world of retirement plan design and strategy.

Nancy McLaughlin, from the Services Delivery Center (Shared Services) and Edward Considine from Retirement Strategy (HR), at PLANSPONSOR’s awards ceremony. National Grid’s 401(k) plan received a “Best in Class” award.

PLANSPONSOR evaluated 401(k) plans based on the following criteria:

  • Commitment to strong oversight and governance practices.
  • Positive outcomes related to helping employees prepare for retirement, such as high participation and deferral rates.
  • Features that make it easier for participants to achieve their retirement savings goals.

To learn more about National Grid’s 401(k) plan, contact our program administrator, Vanguard, at 1-800-523-1188 or visit  www.vanguard.com.

One Comment

Allan Arena

With the need for tax diversification of retirement assets, is the company considering offering a Roth 401k option? If so, when will it be available.

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