The Dime Bank Announced as 2021 Plan Sponsor of the Year Winner

Members News

The Dime Bank is proud to have been announced as the 2021 Plan Sponsor of the Year winner in the Corporate 401(k) <$25MM category. The annual Plan Sponsor of the Year awards program recognizes retirement plan sponsors that show a commitment to their participants’ financial health and retirement success. The 2021 awards had nine categories to allow for the most accurate comparisons across plan types and sizes.

When asked about the success of The Dime Bank’s 401(k) plan, Chief Human Resources Officer Jill George stated, “We have such a good relationship with both our record keeper, Fidelity Investments, and adviser, L.R. Webber. I never hesitate to call on them. We have a great practice to discuss the pros and cons of plan features. We’re a three-legged stool of retirement planning, and this has made the plan the one it is today.”

Retirement plans require an organized, well-documented process to fulfill a fiduciary obligation. The Dime Bank’s 401 (k) plan does so much more than that! The Dime Bank’s plan offers annual education sessions with retirement specialists so participants can see how they can best be ready for retirement. The plan provides auto enrollment with safe harbor matching, auto escalation to encourage increased retirement savings and Target Date Fund investment choices. The Dime Bank pays the administration costs of the plan so employees can save more for retirement. All of the information is easily accessible on employees’ mobile devices.

To read more about why The Dime Bank’s plan is so special and why The Dime Bank was chosen as a winner, go to the Plan Sponsors Award listing.