Overview

Plan Rating

BrightScope Rating
74
Lowest Rating in Peer Group
Average Rating in Peer Group
Highest Rating in Peer Group
0102030405060708090100
Lowest in Peer Group (48)
Average in Peer Group (73)
Highest in Peer Group (89)

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 74. This plan is in the top 15% of plans for Total Plan Cost. FirstMerit Corporation and Affiliates Employees' Salary Savings Retirement Plan currently has over 4,700 active participants and over $287.5M in plan assets.

Did you know?

For the average 401k participant, the 15 point difference between this plan's BrightScope Rating (74) and the top rated plan (89) could equate to:
10
Additional years of work
52,018
Lost 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. How is this calculated?

Plan Details

Plan Details Relevant details about the plan and the plan sponsor, including the address and industry of the plan sponsor and the size of the plan in assets and participants.

 
Plan data accurate as of 12/31/2015
Plan data has been audited by an Independent Qualified Public Accountant (IQPA).
Address Iii Cascade Plaza
  • Location
    Akron , OH
  • 44308-1103
  • Industry
    Commercial Banking
  • Administrator
    Jane Litz
  • Net Plan Assets
    $287,000,000
  • Total Participants
    4,800
  • Avg Account Balance
    $67,000

Plan Components

Component Ratings

Design

Total Plan Cost:
Lowest Fees
Company Generosity:
Above Average

Performance

Participation Rate:
Average
Salary Deferrals:
Above Average
Account Balance:
Above Average

Design

Total Plan Cost:
Average Fees
Company Generosity:
Average

Performance

Participation Rate:
Average
Salary Deferrals:
Average
Account Balance:
Average
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Investments

Investment Menu Stats

# of Investment Options

30

(Plan Average: 20)

Largest Funds in this Plan Allocation of Assets 1 YR Rank in Category
American Funds AMCAP 14%
49%
First Merchants Corporation 12%
N/A
Charles Schwab Managed Retirement 11%
N/A
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
Fund hidden
100%
View all funds in this plan

Providers

Plan Service Providers

SERVICE PROVIDER
Recordkeeper
Charles Schwab
Legal Counsel
Schulte, Roth and Zabel
Auditor
BDO Seidman, LLP