304 employees reported this benefit
Can not pick your own funds, that's what I have heard from Medtronic employees. I don't get benefits from Medtronic.
Good matching percentage. The account opens automatically for you, and employee needs to choose amount of contribution
Regular 401k plan which other companies offer
LOL, they royally screwed us on this this year by leaving Vanguard funds to create their own crap funds. We do get a company wide performance based match though.
Great match at 6.5%, appreciate the tiered vesting schedule of 20% at 1 year, 40% at two years and 100% at 3 years. The only downside is the three year vesting period may be difficult to attain since the company runs lean and has a reputation for downsizing or utilizing contractors rather than full time employees.
401k match, diverse plan and fund choices, can make changes as needed
Match only 3% per paycheck. Some companies match 50% whatever you decide. You want 10% of your check to go to 401k & the company matches 5%. Medtronic STICKS at 3% no matter whether you pick 6% or 12%. HR recruiter completely misrepresented the 401k plan when she explained the benefits on the offer. Makes a big difference if you work here for 20 years. That could be the difference between feeling safe enough to retire at 60 or wait until you are 63. At least they have a pension.
Matches 0.5% of each 1% up to 6%. Last year they provided a bonus at the end of the year straight into your 401(k) because of how well stock had done.
4.5 % average match per year
Company matches the 401K Contributions