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Company:
FirstMerit Corporation
Plan:
FirstMerit Corporation and Affiliates Employees’ Salary Savings Retirement Plan
 

FirstMerit Corporation

71 Plan: FirstMerit Corporation and Affiliates Employees’ Salary Savings Retirement Plan

 
 
71
32
70
87
0
10
20
30
40
50
60
70
80
90
100
For the average 401k participant, the 16 point difference between this plan's BrightScope Rating (71) and the top rated plan (87) could equate to:
[How is this calculated?]
9 additional years of work
Up to $116,500 in lost retirement savings.
The delay in retirement calculations apply solely to this defined contribution plan and do not take into account other retirement plans and programs offered by this employer.

 

Retirement Plan Description

FirstMerit Corporation and Affiliates Employees’ Salary Savings Retirement Plan is a defined contribution plan with a profit-sharing component, 401k feature, and ESOP component. This plan has a BrightScope Rating of 71. This plan is in the top 35% of plans for Company Generosity, Investment Menu Quality, and Total Plan Cost. FirstMerit Corporation and Affiliates Employees’ Salary Savings Retirement Plan currently has over 3,400 active participants and over $136.6M in plan assets.


 Investment Menu Statistics

No. of Investment Options
19
Plan Average: 20
Largest Funds in this 401k: based on % allocation of assets
1. MainStay Large Cap Growth 15%
2. T. Rowe Price Equity Income 11%
3. Prudential Guaranteed Income Fund 11%

 Retirement Plan Details

Address 106 South Main Street, 6th Floor
Akron, OH 44308-1444 
Industry Commercial Banking
Administrator Kim Flett
Net Plan Assets $137,000,000
Total Participants 3,500
Avg Account Balance $45,000

  Plan Service Providers

Corporate Trustee FirstMerit Bank
Investment Adviser FirstMerit Bank
Administration FirstMerit Bank
Recordkeeper FirstMerit Bank
Investment Adviser Aon Hewitt
Auditor SS&G Financial Services, Inc.