MEMBER SPOTLIGHT: WHITE HOUSE RECOGNIZES CLOROX FOR ‘BEST IN CLASS’ RETIREMENT PLAN
The Clorox Company was recognized July 13 at the 2015 White House Conference on Aging as one of four companies with a “best in class” retirement plan for its employees. CEO Benno Dorer attended the conference with over 200 stakeholders, joined by President Obama and members of the President’s cabinet. Thousands more participated through webcasts. The Obama administration has long encouraged employers to help employees better prepare for retirement through best practices such as automatic enrollment of employees in 401(k) plans; annual company contributions at levels such as 5 percent or 6 percent of pay; automatic escalation of contributions; substantial employer matching and other contributions; flexible distribution options; and comprehensive financial education programs. Clorox has taken the lead in adopting such practices in its retirement plan. This has led to 97 percent employee participation with an average employee contribution of more than 10 percent.
Clorox also offers financial planning services to help employees manage their retirement plan assets and other aspects of their personal finances to ensure their financial well-being. The White House Conference on Aging has been held once a decade beginning in 1961 and is designed to help chart the course of aging policy. The 2015 conference focused on ensuring retirement security; promoting healthy aging; providing long-term services and supports; and protecting older Americans from financial exploitation, abuse and neglect. Learn more at TheCloroxCompany.com.