The Delp Company
Company Facts
- Location: Maumee, Ohio
- Type of business: Wealth Management, Risk Management, Employee Benefits
- Number of employees: 52
- Founded: 1958
- Web site: www.Delpcompany.com
Benefit highlights
- 100 percent employer-paid medical insurance premiums for employees and dependents
- 401(k) plan with a 3 percent non-matching contribution; average employee deferral of 8 percent
- Profit sharing plan with a 7 percent discretionary contribution
- Defined benefit plan
- 100 percent employer-paid premiums for disability insurance
“Benefits are critically important in keeping people engaged—especially during hard economic times.”
– Cleves Delp, CEO, The Delp Company
Percent of employees participating in 401(k) plan: 90%
How they've continued to protect the financial security of employees in this economy:
At a time when many companies are eliminating their defined benefit plans, The Delp Company added one. “It provides a richer benefit because we give the same contribution, but the vesting schedule is shorter and it’s guaranteed,” says Cleves Delp, CEO of The Delp Company.
Other interesting facts:
- Voluntary turnover rate of just 2 percent
- Focuses on customizing the benefit package for each employee
- Strong supporters of consumer-driven healthcare; offers a Health Savings Account in conjunction with a high deductible insurance plan and provides $1,000 for individuals, $2000 for families
Why Judges Selected The Delp Company
Watch a video of comments from 10 Best judge David Wray.
Read the transcript
“I was impressed with the commitment and pride The Delp Company has in their benefit programs. I was especially impressed that they added a cash balance defined benefit plan to their retirement portfolio, demonstrating a real commitment to the future financial security of their employees. They’re also providing employer-paid financial advice to help employees with their financial wellness. The company is clearly committed to the financial security of their employees.”
– David Wray, 10 Best judge and president, Profit Sharing/401(k) Council of America
