Textron Employee Benefit: 401K Plan | Glassdoor

Textron 401K Plan

Updated Aug 22, 2019

32 employees reported this benefit

3.2
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Available to US-based employees (Change location)

Employee Comments

Showing 1–5 of 5
  • Feb 06, 2019
    StarStarStarStarStarEmployee

    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

  • Jan 27, 2017
    StarStarStarStarStar Former IT Engineer, Senior in Fort Worth, Texas

    It's OK match with 401k

  • Oct 28, 2016
    StarStarStarStarStar Current Industrial engineer in Charlotte, North Carolina

    You can choose based on your preference

  • Jul 28, 2016
    StarStarStarStarStar Former Employee in Leavenworth, Kansas

    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.

  • Feb 26, 2015
    StarStarStarStarStar Current Employee in Fort Worth, Texas

    Average matching based on industry.

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