106 employees reported this benefit
Available to US-based employees Change location
good plan, 5% matching will be there
Stand ard 4 0 1 plan
Available after 90 days of employment
They have a policy to match only if pay is lesser than 120k
Price match was very low than expected.
good matching of 401 k
First 3% is completely matched
Note that these benefits may vary depending on the country you are in. This is what we are getting in the US. You have to wait at least 3 months to sign up - if you start after the first of the month, though, it is longer than that. So for example, if you start on March 3rd you wait three months to June 3rd, but you have to sign up the first of the month that comes after that, so in this case July 1st. If you had started on March 1st, however, you could have signed up June 1st. Virtusa will only match people whose salaries are less than $125,000/year at the time of this writing (2021). This limit can change yearly. If you do earn less than that, Virtusa will match 100% of the first 3% of your salary that you contribute yourself to the 401k. Then they will contribute 50% of the next 2% you contribute yourself. So if you contribute 5% of your salary, they will match with a 4% contribution. The contribution they make vests immediately. The match is calculated per pay period. Amounts you contribute in excess of 5% is not matched. You can choose to contribute to a Roth 401k or a tax deferred 401k. There are quite a few options for investment - like Fidelity index funds, TRowe Price target funds, etc. They have an option to borrow from your 401k and they use the IRS rules for this. Processing fee for a loan from your 401k is $150.00. They allow contributions from 1% to 100% of your salary, although if you are required to contribute to Medicare, etc., you would have to take that into account.
I know they offer this but not enrolled so not know much about it
They give one of the best 401k