32 employees reported this benefit
Textron offers a match of 50% up to 10% of pre-tax salary. Match is in company stock that you can reallocate to other funds whenever you like. There is no waiting period for matching contributions after you are hired. If you are employed on December 31st of the prior year, Textron also deposits 4% of prior year salary as a cash bonus into your 401K, regardless if you participate in matching program or not. They have a vesting schedule based on service that applies to matching contributions and annual cash bonus: 2 years--25% vested 3 years--50% vested 4 years--75% vested 5 years--100% vested
It's OK match with 401k
You can choose based on your preference
Textron has instituted new requirements/restrictions that can do harm to your retirement assets when you start to take distributions. Everything must be liquidated an transferred into an IRA before distributions can begin. This puts you at risk of selling your other investments short, and having to buy back same stocks at a higher SP after the transfer. Potential for losing thousands of shares/dollars forcing ex employees to conform to Textron's rule book.
Average matching based on industry.