FCA US Salaried Employee 401(k) Plan Earns Plan Sponsor Magazine’s Annual Best-in-Class Award
AUBURN HILLS, Mich., March 12, 2019 /3BL Media/ - Plan Sponsor magazine has selected the FCA US LLC Salaried Employee Savings 401(k) Plan as a winner of its annual “Best-in-Class” Award.
FCA US was among 36 companies to achieve this prestigious benchmark. The magazine considered applications from nearly 4,000 companies in making its selections.
FCA US is the only automaker on the list of selected programs.
“FCA US is committed to helping our employees improve their financial fitness,” said Maria Darbonne, Manager, Savings Plans, FCA US LLC. “Our 401(k) plan is the centerpiece of a robust Financial Fitness initiative that includes student loan refinancing and other programs and information resources to help our employees build and maintain a secure financial future for themselves and their families.”
Plan Sponsor magazine made its selections through a proprietary system that weighted usage/implementation of more than 30 criteria related to plan design, oversight, governance and participant outcomes.
Features of the FCA US 401(k) plan include:
- Immediate eligibility for all employees including automatic enrollment and automatic escalation features
- A company matching contribution equal to $.50 of every dollar contributed up to 10% of deferred pre-tax base pay or a Roth, with immediate 100% vesting
- A 3 percent (of base pay) unmatched Company contribution with a three-year vesting schedule
- Twelve target date funds and 12 core menu investment fund options
- A self-directed brokerage window and a managed account feature – both at no cost to the employee.
FCA US continued its tradition as a leader in providing attractive, innovative benefits to employees in January when it added a student loan refinancing program to its package of benefits offered to salaried employees. The program is being offered in partnership with CommonBond for Business, the student loan benefits product from financial technology company CommonBond.
FCA US salaried employees with student debt, as well as employees with federal government-backed Parent PLUS loans, are eligible to refinance these loans through the program with preferred terms.
The Company’s 401(k) plan and student loan refinance program are part of its Financial Fitness initiative that provides programs and information resources to help employees take control of their financial wellness.
About FCA US LLC
FCA US LLC is a North American automaker based in Auburn Hills, Michigan. It designs, manufactures, and sells or distributes vehicles under the Chrysler, Dodge, Jeep®, Ram, FIAT and Alfa Romeo brands, as well as the SRT performance designation. The Company also distributes Mopar and Alfa Romeo parts and accessories. FCA US is building upon the historic foundations of Chrysler Corp., established in 1925 by industry visionary Walter P. Chrysler and Fabbrica Italiana Automobili Torino (F.I.A.T.), founded in Italy in 1899 by pioneering entrepreneurs, including Giovanni Agnelli. FCA US is a member of the Fiat Chrysler Automobiles N.V. (FCA) family of companies. (NYSE: FCAU/ MTA: FCA).
FCA is an international automotive group listed on the New York Stock Exchange under the symbol “FCAU” and on the Mercato Telematico Azionario under the symbol “FCA.”
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Media website: media.fcanorthamerica.com
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For more information, please visit the FCA US LLC media site at http://media.fcanorthamerica.com.
Contact:
Mike Palese
(248) 512-2682 (office)
(313) 930-1252 (cell)
michael.palese@fcagroup.com
