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Salt Lake City – O.C. Tanner was recently recognized as the nation’s leading company for 401(k)-based employee retirement benefits due in part to a 96 percent employee participation rate and an average account balance of 60 percent more funds than other employees across the nation.
This recognition was given for companies with assets between $50 million and $1 billion by Plan Sponsor magazine, an industry-leading authority on retirement and benefits programs. Plan Sponsor also recognized Google, Inc. as a leader in its respective size category with plans over $1 billion in assets.
O.C. Tanner employees have an average account balance of $145,000 and those 60 and older have an average balance of more than $290,000. These figures compare with 2013 national averages of $89,300 and $165,000 for those on the verge of retirement and reflect a diverse workforce from gardeners and manufacturing team workers to information technology professionals and sales executives.
“It’s not just the cause of the day; it’s a long-term focus,” said Charlotte Miller, senior vice president of people and great work. “It’s a great benefit to talk about when we’re recruiting. We also have a lot of long-term employees, and it’s our way of showing that we value that long-term experience here.”