28 employees reported this benefit
You are vested 100% from day one.
Good: automatic company percent matching as well as additional matching. Bad: nothing,
I receive 11.25% contribution. They give 6% with a yearly contribution of 5.25% for my age. The yearly contribution is more or less dependent on age.
I receive 6% contribution on salary+bonus. I then receive an additional 5.25% that is deposited yearly. The additional match is dependent on age and maxes out at 10%. So if you're older you can be getting a 16% total contribution!
Novartis provides 2% automatically and a 4% match of employee contributions into their 401k. They have also recently started a Roth 401k which offers some diversity for those looking to balance their retirement account tax liabilities.
Terrible 3 year vesting period for company retirement contributions. Should be illegal
Company match is great. Contribution by employer to 401K in lieu of pension.