VMware provides an extensive defined contribution retirement plan option to all its active full-time employees.
You will become eligible to participate in the retirement plan upon completion of one continuous year of service with VMware. You will be able to enroll in the retirement plan through MyLife [VMware network access required] after one year of continuous service.
VMware is contracted with Shinhan Bank to offer retirement investment portfolio. Please contact Shinhan Bank to view your available investment options.
VMware will contribute based on completed years of service according to the table below:
|Service Years||Percentage of Salary|
|Less than 6 years||9%|
|More than 6 years||12%|
Employee Voluntary Contributions
Employees can make voluntary contributions to their chosen retirement plan up to the legal annual limits. Voluntary contributions can be made via:
- Electronic fund transfer directly to Shinhan Bank, or
- Salary deduction. You can login to MyLife [VMware network access required] at any time to make an election, adjust, or cancel your voluntary contributions.
Employer and Employee contributions are 100% vested immediately.