VMware provides a Retirement Plan through a Group Insurance Plan with AG Insurance.
All regular VMware employees are eligible to participate in the Retirement Plan.
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
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.
Last Updated: 30 Sep 2021, 6:30 AM