 |
401(k) Savings Plan
PREPARING EMPLOYEES FOR THE FUTURE
Through a combination of a traditional pension plan, a 401(k) Savings Plan, Employee Stock Purchase Plan and contributions to Social Security, Biogen and its employees work together to build savings and retirement incomes for the future.
Biogen's 401(k) Savings Plan was established to encourage employees to save money for retirement. Biogen helps employees by matching their contributions with Biogen stock in the amount of $0.25 for every dollar saved, up to 6% of eligible pay (for a maximum Biogen match valued at 1.5% of employee pay). Employees may contribute any whole percentage of eligible pay from 2% to 18%, up to the annual federal limit. And they can choose from a variety of investment funds including the Biogen Stock Fund to meet their specific financial objectives. All deposits and earnings are free from federal and state income taxes until distributed.
Regular employees who are at least 21 years old are eligible to enroll in the plan as of their date of hire. Participation will begin as soon as administratively possible after Fidelity, Biogen's 401(k) Savings Plan administrator, receives notification of employment.
|
|
