Eli Lilly, one of the top 10 pharmaceutical companies in the world, offers its employees an excellent 401(k) plan with many attractive features. The plan allows employees to invest money in a number of different investment options. It provides an easy and secure way to save for retirement with the potential to earn long-term growth. With the Eli Lilly 401(k) plan, employees are able to take advantage of the power of compound interest, diversifying their investments, and contributing pre-tax dollars, making their contributions even more effective.

The most attractive aspect of the Eli Lilly 401(k) plan is its wide range of investment options. With the drug maker’s managed funds, the plan provides a mix of U.S. and global mutual funds that span all asset classes and styles. The fund mix enables employees to choose investments based on their own personal risk profile. Employees can also choose from a wide range of individual stocks, bonds, and managed funds. The company also offers brokerage windows and a self-directed brokerage option, which allow employees to make their own investment decisions and have direct control over their 401(k) accounts.

Additionally, the plan offers generous contributions. Eligible employees can contribute up to $17,500 in pre-tax dollars to their accounts each year. For employees age 50 and above, catch-up contributions are also allowed, further increasing the benefits of contributing. The company matches 50 percent of the employees’ contributions, up to a total of 6 percent of compensation, as well as dollar-for-dollar matches for those contributing more than 6 percent of compensation. This generous match amount boosts employees’ retirement savings much quicker than if the company didn’t match contributions.

The Eli Lilly 401(k) plan carries low fees, ranging from 0.15 to 0.35 percent for the company’s core funds. This is lower than the industry average of 1 percent, making the plan more attractive for employees looking to maximize their retirement savings.

The Eli Lilly 401(k) plan is a great way for employees to save money and secure their financial future. The plan features a wide variety of investment options, generous contributions, and low fees, all of which greatly benefit employees in their retirement planning. With its combination of security, convenience, and potential for long-term growth, it is an excellent option for those looking to build their wealth.