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Retirement

VMware provides a Retirement Plan through a Group Insurance Plan with AG Insurance.

Eligibility

All regular VMware employees are eligible to participate in the Retirement Plan.

Benefits

VMware contributes into a private pension plan with AG split into two policies:

• Policy 1
  • Employer Monthly Contribution percentage is based upon your base salary and Social Security Ceiling
  • VMware Contribution is 1,75% S1 + 7% S2
    • S1 = part of your yearly base salary up to legal pension ceiling
    • S2 = part of your yearly base salary above this ceiling. Yearly base salary = Monthly salary of January * 13,92
• Policy 2
  • At the end of the year VMware pays an extra contribution into a separate bonus plan. This contribution is based upon commission or bonus (calculated February/March and invoiced May/June)
  • VMware Contribution: 7% C
    • C = Commissions & Bonuses + OVT
    • Commissions & Bonuses are limited to (OTE – yearly base salary)
    • Overtime = if you are entitled to overtime

Vesting

You are immediately 100% vested.

When Coverage starts

Coverage begins on your first day of employment with VMware.

When Coverage ends

Coverage ends on your last day of employment with VMware.