249 employees reported this benefit
Weak. You get full match up to 3% and then 50% on the next 2% however you have to been employed at least a year and then the next semi-annual period after that before you are eligible for matching. I started in August and then had to work 18 months before matching. Not cool!
Third party company 401k offered.
401k is covered in wipro
they have good 401k plan and they will match 75% of your 5% of your salary
Full match for only 3 percent, then half match for next 2 percent paid quarterly and requires a year before kicks in. I had better 401ks working in retail during my college years. No bonus options, the plan itself has some fees that were obviously not negotiated very well.
market standards and match upto %
Partial matching starts after 18-24 months, depending on joining date.
No employer match for initial 18 months of employment. After the initial period, the maximum match is capped at 3% of 90K of your salary. Beware, Wipro does not allow employees to transfer the 401K funds after leaving the company for 6 months, that includes the money contributed by employee from salary, with zero match from employer. The company is having 20K employees in US approx. and suppose each one having an average 100K USD balance in 401K plan, that would mean that the company is holding 20 billion USD of employee's 401K funds and using that money for doing business and gaming stock market. Not sure how far this one is legal though.
You will not see any clear guidelines how to enroll for 401K . If you are a genius you will fgure out after
Currently, the employee matching is quite sub-market.