Walmart offers a 401(k) plan to eligible employees. The company matches employee contributions on a dollar-for-dollar basis up to a maximum of 6% of the employee’s eligible compensation. For example, if an employee contributes $1,000 to their 401(k) plan, Walmart will contribute an additional $1,000. This match is a great way for employees to save for retirement, as it essentially doubles their contributions. To be eligible for the 401(k) plan, employees must be at least 21 years old and have worked at Walmart for at least one year. Additionally, employees must make regular contributions to the plan in order to receive the match.
Walmart 401k Plan Overview
Walmart offers a 401(k) plan to its employees, allowing them to save for retirement. The plan includes employer matching contributions and a variety of investment options.
Eligibility
- All Walmart employees who have worked at least 1,000 hours in the previous year are eligible
Contributions
- Employees can contribute up to the IRS limit ($22,500 in 2023)
- Walmart matches 100% of the first 6% of an employee’s salary that is contributed to the 401(k)
Matching Contributions
| Employee Contribution Percentage | Walmart Matching Contribution Percentage |
|---|---|
| 0% | 0% |
| 1% | 50% |
| 2% | 75% |
| 3% | 100% |
| 4% | 50% |
| 5% | 0% |
| 6% | 100% |
Investment Options
- Walmart offers a variety of investment options, including mutual funds, index funds, and target-date funds
- Employees can choose the investment options that best meet their individual risk tolerance and retirement goals
Vesting
- Walmart matches contributions on a graded vesting schedule
- Employees are 20% vested after 2 years of service
- After 3 years of service, employees are 40% vested
- After 4 years of service, employees are 60% vested
- After 5 years of service, employees are 80% vested
- After 6 years of service, employees are 100% vested
Employer Matching Contributions
Walmart offers matching contributions to its employees’ 401(k) plans. The company matches 50% of employee contributions up to a maximum of 6%. This means that if an employee contributes 6% of their salary to their 401(k), Walmart will contribute an additional 3%. Employees are automatically enrolled in the 401(k) plan, but they can opt out if they do not wish to participate. Participating employees are also eligible for a profit-sharing contribution from Walmart, which is typically distributed in the form of stock shares.
- Walmart 401(k) match: 50% up to 6% of employee contributions
- Maximum Walmart 401(k) match: $1,800 per year
- Employees are automatically enrolled in the 401(k) plan
- Employees can opt out of the 401(k) plan at any time
- Participating employees are also eligible for a profit-sharing contribution from Walmart
| Employee Contribution | Walmart Match |
|---|---|
| 1% | 0.5% |
| 2% | 1% |
| 3% | 1.5% |
| 4% | 2% |
| 5% | 2.5% |
| 6% | 3% |
Walmart 401k Match
Walmart offers a matching program for its employees’ 401k contributions. The company matches employee contributions dollar-for-dollar up to a certain percentage, depending on the employee’s years of service.
Vesting Schedule
Walmart’s 401k match is vested over a period of years. Vesting refers to the percentage of the employer’s matching contributions that belong to the employee. The vesting schedule is as follows:
- 0-2 years of service: 0% vested
- 3 years of service: 20% vested
- 4 years of service: 40% vested
- 5 years of service: 60% vested
- 6 years of service: 80% vested
- 7 or more years of service: 100% vested
Contribution Limits
The maximum amount that Walmart will match employee contributions is limited to the following:
- 100% of the employee’s first 6% of earnings
- 50% of the employee’s contributions from 6.1% to 10% of earnings
- No match on contributions above 10% of earnings
| Contribution Amount | Walmart Match |
|---|---|
| 1% of earnings | 1% of earnings |
| 6% of earnings | 6% of earnings |
| 8% of earnings | 7% of earnings |
| 10% of earnings | 8% of earnings |
| 12% of earnings | 8% of earnings |
Walmart 401k Plan
Walmart offers an employer-sponsored 401(k) plan to eligible employees. The company matches a portion of employee contributions up to a certain limit. The specific matching rate depends on the employee’s years of service with Walmart.
Investment Options
Walmart’s 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and company stock. Employees can choose to invest in a single fund or create a diversified portfolio by investing in multiple funds. The plan also includes a Roth option, which allows employees to contribute after-tax dollars that can grow tax-free in retirement.
- Mutual funds
- Target-date funds
- Company stock
- Roth option
Fees
Walmart covers the administrative fees for the 401(k) plan. However, employees are responsible for the investment fees associated with their chosen funds. These fees can vary depending on the fund’s management style and expenses.
Matching Contributions
Walmart matches employee contributions according to the following schedule:
- 100% of the first 6% of employee contributions
- 50% of the next 4% of employee contributions
For example, an employee who contributes 6% of their salary to the 401(k) plan will receive a matching contribution of 6%. An employee who contributes 10% of their salary will receive a matching contribution of 10%.
| Employee Contribution | Walmart Matching Contribution |
|---|---|
| 0% – 6% | 100% |
| 6% – 10% | 50% |
Alright, folks, that’s all we have for you on the Walmart 401(k) match. If you’re crunching the numbers for your retirement savings, hope this info helps. Don’t forget, these plans are all about long-term gains, so start early and keep saving. Thanks for hanging out with us. Be sure to swing by again if you have more retirement-related questions. We’ve got your back!