110 employees reported this benefit
McMaster-Carr provides a retirement savings plan.
This information about the Retirement Plan benefit at McMaster-Carr is the result of research by Glassdoor editorial staff, and was not provided directly by a representative of McMaster-Carr. The description here may not reflect the current McMaster-Carr Retirement Plan benefit.
you become vested after about a year at the company
Zero employee contribution but very few people last the six years it takes to be fully vested - they often terminate people just before the calendar year ends so the company doesn't have to vest them another 20% in the plan.
Company invests 25% of your base salary into an employee owned trust every year. The trust has decent returns. No additional employee contribution is possible. It takes 6 years to become fully vested in the retirement.
Best part of it all. 100% employer contributed. Professionally managed trust fund that has great growth.
Unbelievably good. Most years McM invests an amount equal to a quarter of each employee's salary on their behalf for retirement.
Not guaranteed, but generally 25% of salary put into a retirement fund managed by the company's money managers. No matching contributions from the employee.
Great if you can get 100% vested, but good luck getting to that point at 5 year marker. (20% vested each year of service)
I did not become fully vested.
No contribution from employee. All paid for by company.
Very good retirement plan/profit sharing if you get vested