Does Walmart have a retirement plan?

One of the largest departmental stores in the USA, Walmart has so much for its customers. It also offers various perks to its working employees like discounts, insurance, medical leaves, training programs, various membership, etc. But does Walmart have a retirement plan for its workers and employees? 

Yes, Walmart does have retirement plans for its employees. Walmart’s retirement plan is known as 401(K). Every month employees contribute a fixed percentage of their salary to their 401(K) retirement plan. On the contribution of employees, interest is given by Walmart. Apart from 401(K), there are a few more perks for retired employees of Walmart. 

Does walmart have a retirement plan?

What is Walmart’s retirement plan called? 

The 401(K) is the retirement plan of Walmart. It is the one retirement plan that most employers in the USA offer to their employees. According to this plan, every month a fixed amount is contributed for employees’ retirement from their paycheck. There is an agreement, according to which this amount is automatically deducted from the employee’s paycheck. This amount becomes a part of the employee’s retirement fund. On this saving, no tax is charged to the saver. 

Contribution scheme for retirement funds 

To access the Walmart 401(K) retirement plan, an employee should have an OneWalmart account. The retirement funds of employees are deposited in this account. A fixed amount is deducted from an employee’s paycheck every month. Additionally, the employer also contributes the amount equal to the employee’s contribution up to 6% of their tax-free income. 

Walmart allows up to 50% contribution of employees’ salary in the 401(k) retirement scheme. More the contribution, more the savings for the future. But access contributions should not disturb your monthly budget. 

Apart from employees contribution Walmart also contributes the same amount up to 6% of employees’ income. It means that if you contribute $2000 per month to your 401(K) retirement plan every month which is 6% of your total monthly income. Then your employers will also contribute the same amount to your funds. But if your contribution is more than 6% then the employer will only contribute 6% of your income. 

Walmart employees can also invent these funds in various funds, bonds, or real estate, etc. With their contribution and Walmart’s contribution employees could earn a good fund for retirement. Presently Walmart’s contribution is 6% of the employees’ pay. But it can increase or decrease or stop contributing at any time. 

What other perks do Walmart employees get on retirement?

The 401(K) is a very fascinating retirement plan for Walmart employees. But apart from a retirement plan, there are a few more perks that employees receive after taking retirement-

Medical care

Walmart also covers employees’ medical requirements on retirement. Medicare is provided to retired employees for aiding in their health at old age. Medicare covers medicines, doctor’s fees, and various other benefits. 


Apart from the retirement funds, Walmart also has several insurance plans for its employees. These plans cover employees’ benefits even after their retirement. 

These insurance include life insurance, serious illness insurance, accidental death, and dismemberment insurance. These insurance and policies are for the employees of every Walmart store in the USA. 


Walmart employees have associate discount cards, which give them special discounts on any purchase from Walmart stores. 

After retirement, employees could keep this discount card to continue receiving several discounts at Walmart stores. But only those employees could keep discount cards who have worked for Walmart for at least 20 years. If the age of an employee is 55 or more, 15 years without service makes him or her eligible for keeping a discount card. 

How good is Walmart’s retirement plan?

Walmart offers a very competitive retirement policy. It matches 6% of the employee’s income to contribute towards the retirement fund. The 6% contribution is very effective as compared to many other firms who offer 3% to 5% of employees’ income. Additionally, Walmart also provides Medicare, insurance, and discounts. 


Walmart has a 401(K) retirement scheme. This scheme asks employees to control a fixed percentage of their income every month in their retirement fund account. Walmart also contributes up to 6% of employees’ income. Then at retirement, this fund is given to employees with the internet earned in past years. Walmart also offers perks like medical care, discounts, and insurance to employees on retirement. 

  1. What could be a good retirement fund for any employee? 

Answer: Various studies say that a good retirement fund is at least 10 times more than your annual income. 

For example: If you earn $50,000 annually, then your retirement fund should be at least – $40,000*10 = $400,000.

  1. Can I withdraw my 401(K) retirement fund while leaving my job at Walmart?

Answer: Yes, you can withdraw the total fund contributed till now (your contribution + employer’s contribution + interest). You can also keep the fund as it is to gain more interest in savings. 

Does Walmart have a retirement plan?

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