Regency Centers recently received the ‘Best in Class 401(k) Plan’ award by PLANSPONSOR, a multi-media publication and trusted information and solutions resource for America’s retirement benefits decision makers. Regency last received this award back in 2017, as companies are eligible for the award every five years. Since 1993, PLANSPONSOR has been the nation’s premier source of information on retirement benefits programs, and is dedicated to helping employers navigate the complex world of retirement plan design, strategies, and compliance.
Winning this award again is a testament to Regency’s best-in-class benefits package,” said Reese Dowell, Senior Manager - Compensation and Benefits, Regency Centers. “Our dedicated retirement committee, strategic third party fiduciary (Regions Bank), and exceptional service provider (Principal) all work together to ensure Regency has a competitive, top-notch 401(k) program where employees can save for their retirement. Regency’s generous match and profit sharing contributions also remain a step ahead of our peers and other companies, and features like auto enrollment, auto increase, and diverse investment options are the stepping stones needed to set our employees up for success in retirement.
The success of Regency’s 401(k) program can largely be attributed to its dedicated retirement plan committee and third party fiduciary, who review its investment optionsquarterly. Currently, Regency offers 33 investment options including Target Date Funds, Mutual Funds, and a Self-Directed Account (SDA). Regency is proud to generously match employee contributions dollar for dollar (up to $5,000 annually).Additionally, Regency’s Board of Directors can approve an annual profit sharing contribution.
Regency Centers has always put a very strong emphasis on their employees and the benefits that are available to them,” said Tom Olson, Senior Relationship Director, Principal. “Regency takes pride in providing such a great program with an excellent company match and profit sharing for their employees, and they closely monitor the performance and design of the plan to ensure it meets the high standards of their employee base. We are honored to be able to service the Regency Centers plan and help employees prepare for a successful financial retirement!
Currently, Regency Centers has 413 investment participants at a 97% company participation rate, with an average deferral rate of 9%.
We have had the opportunity to work with Regency Centers and the Retirement Plan Committee since 2015, and have seen firsthand the level of commitment and care the committee places on ensuring that employee benefits are top-notch,” said Mary D. Mullins, CRPP, AIF, Vice President & Relationship Consultant, Regions Bank. “Regency has cultivated a culture that is focused on elevating the lives of the members of the company and communities that Regency operates within.
To learn more about Regency’s culture, benefits, and career opportunities, click here.