Upon hiring, you are immediately eligible to contribute to the Nestlé 401(k) Savings Plan. You will be automatically enrolled at a contribution rate of 6% of your eligible pay, unless you decline to enroll or elect a different rate. Automatic contribution increases of 1% occur on or about the anniversary of your enrollment date, until you reach the maximum deferral percentage. You can also actively enroll, electing up to 25% of your eligible pay (certain limitations may apply).
Nestlé will match 100% on the first 3% of your eligible contribution, and 50% on the next 2% you contribute of your eligible pay.
Nestlé also provides an annual retirement contribution to help you save for retirement. The amount contributed is calculated using a formula that takes into account your age, years of service and eligible pay.