33 employees reported this benefit
Baldor provides employees with the ability to make 401(k) and/or Roth conributions and assists with a company match.
They offer a very competitive 401K plan.
Its a big company with good benefits.
immediate participation for new hire and 100% vesting
The best thing is they match it up to a certain percent.
The company does not match 401k It takes two years before you are eligible for profit sharing
Pretty low for industry standards, match 25% of contributions up to 6% of salary. After a few years they do profit sharing of a few percent of salary directly into the 401k, which helps make up for it.
For every dollar put in by the employee, the employer put a quarter.
The 401(k) plan is typical, but the profit sharing program is both (1) very generous and (2) sent directly into each employee's 401(k), which is a GREAT system.
In addition to Profit sharing this is a VERY good benefit!