543 employees reported this benefit
A 401(K) plan is available to help save for retirement, and Honeywell provides generous matching contributions.
Company match is good but only pays into the employee account once a year, with the full match. Investment options are good with one option to invest in company stock.
good match, 87.5% match up to 8% contribution
Best: Good match worst: They hold the match until the end of the year
Limited match on 401k; no real pension any more
Match is 7% paid annually, so you can't benefit from in-year gains. Also, if an employee is laid off or not working on or after December 15, they forfeit the entire year of company match!
401K Plan looks very competitive with other large companies to me
The entire systems doesn't benefit the employees anymore, its looked at more like a mechanism to help them hit profit numbers if they need to.
7% match but only awarded once per year, and only to people who stay until December(if you leave or retire before December you don't get the match). It also takes 3 years to vest, so if you leave before 3 years you get nothing. The good thing is they no longer require you to contribute for one year before contributing themselves. Contribution lump sum begins to accumulate as soon as you start contributing 8%.
Industry standard - not many options to buy other stocks like Apple
Good match at 7%, recently changed to pay only if the employee is still with the company in December 15 each year. Overall, this will result in a slightly greater pay into 401k, however, it hardly seems fair to those who leave or worse yet, get laid off before that date.