Accelerated Genetics, Baraboo and Westby, Wisconsin, a global provider of bovine genetics and research, has been awarded the “Compass Award” for its long-term commitment to excellence in the stewardship of its employees’ retirement assets. The award was given by Francis Investment Counsel, a nationally recognized expert retirement plan investment consulting organization.
“The leadership team at Accelerated Genetics has put in place, and maintained over many years, a system of in-depth due diligence, rigorous, ongoing oversight, and consistent employee education that represents industry best practices,” stated Mike Francis, president of Francis Investment Counsel.
This has led to above average results. Whereas 84 percent of Accelerated Genetics employees save in their plan, other plans average a 74 percent participation rate according to Vanguard*. Further, the average Accelerated Genetics saver defers 8.0 percent of their income versus the national average of 6.9 percent.
Joel Groskreutz, Accelerated Genetics president and CEO states, "Our employees entrust us to make sound economic recommendations in regards to their financial futures. In addition, it is very important for us to supply them with the proper educational tools to make decisions that will affect their retirement options. As an employee, having this value-added benefit is a true testament of Accelerated Genetics’ steadfast commitment to their long-term success."
Accelerated Genetics has implemented “best practices” design features including auto-enrollment, autoescalation, and the availability of Roth 401(k) deferrals. Their investment menu features “best in class” funds from multiple fund families and offers alternative investment classes for greater diversification.
“The care top executives at Accelerated Genetics have taken in managing their employees’ retirement benefits has been a priority and it shows in their results. Their employees are better prepared for retirement than most,” reported Kelli Send, senior vice president, Francis Investment Counsel. PD
—From Accelerated Genetics news release
*Source: Vanguard, How America Saves 2010: A Report on Vanguard 2009 Defined Contribution Plan Data. Survey included 3.0 million plan participants in 2,200 qualified plans. Data on participation and deferral rates drawn from a subset of 1.3 million participants in 600 plans.
