Amgen Retirement and Savings Plan

Plan name Amgen Retirement and Savings Plan
LocationThousand Oaks, Calif.
Asset size ($MM)$7.2 billion
IndustryBiotech/Fortune 1000
Participation rate97%
Average deferral rate10%
# of funds offered8
Investment reviewYes
True-up matchYes
Match vesting periodImmediately upon enrollment
EligibilityImmediately upon hire
Default deferral rate5%
Default investmentProfessionally Managed Account (participant-level allocation model)
Automatic escalationYes - participants are defaulted into auto escalation at time of enrollment unless they opt out; all other participants can opt in at any time
Systematic withdrawalsNo
Fee equalization
Match Rate100% of first 6% of salary
% receiving full matchAll or nearly all participants (90% or more)
Maximum employer contribution5%
Financial Education
Investing strategies
College saving
Credit/Debt management
Tax/Estate planning
Retiree health costs/savings options​
RecordkeeperBank of America
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