270 employees reported this benefit
Safeway offers a 401k plan.
This information about the 401K Plan benefit at Safeway is the result of research by Glassdoor editorial staff, and was not provided directly by a representative of Safeway. The description here may not reflect the current Safeway 401K Plan benefit.
noting exciting noting new to tell
Standard amount non taxable but no company match.
That I know it's there, but takes a lot of hours to build up. I have a friend that has been there for almost 30 years, and all she has accumulated was 46,0000 towards retirement.
Exciting to save 401K is most important to have those saving
Yes you do get a 401k
matching amount is low low low but is because it has a pension plan
Provided a retirement savings account, but the employer match by Safeway was pitiful, and only full time employees were eligible at the time
Indefrent i dont use it but feom what i saw in contract is standard match
If you are highly paid, do not rely on the 401-k plan to build up much for retirement. There is no match (Safeway contributes just 2% of your salary to the "retirement plan", but nothing to the 401-k, giving little incentive for many to contribute. This makes the plan "top-heavy" according to IRS guidelines, and anything beyond about 8,500/yr which you would like to contribute in order to lower your horrible Federal and State taxes (especially in Oregon and California), will be refunded to you just prior to the mandated deadline in the spring of the following year, so it counts as income. If you all banded together and demanded a better plan, perhaps top management would listen, but as of right now, requests for restructuring the 401-k to provide incentives for lower-paid people to contribute (ie true employer matching) is falling on deaf ears.
Could really use the 401k program, for I plan to stay with Safeway, till i retire.