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Provider(s) Financial Wellness Educator(s) John Hancock, Benefit Partners Financial Group IF PLAN SPONSORS need proof that their match is a critical factor affecting participants’ deferral rates, they need look no farther than the 401(k) plan of COFCO International USA, an agriculture supply chain company, headquartered in Chicago, Illinois. The plan’s 15.3% average deferral rate is largely due to its qualified nonelective contribution (QNEC) of 3%, plus a 50-cent match of all that an employee defers with no cap. How this match came to be stems from the company’s formation: Two companies merged one with a 100% company match with no cap, the other with a 3% safe harbor contribution but no match, explains Sharon Kacsits, director of human resources (HR) North America at COFCO. ....