Find the best way to save for now and later.
Savings
ITW 401(k) Retirement Plan
Explore the features of the ITW 401(k) Retirement Plan, which can help you save for life your way.
Get the Full Match
ITW provides a generous matching contribution to your 401(k) account. When you contribute up to a total of 6% of your annual eligible pay, ITW matches your contributions based on the following schedule. This applies whether your contributions are before-tax, Roth, after-tax or a combination of the three. To maximize the ITW matching contribution, be sure your annual before-tax, Roth and/or after-tax contributions total 6% of your annual eligible pay.
If you’re saving less than 10%, we’ll automatically increase your contributions in January. We’ll bring you to 6% if you aren’t there now. If you already contribute at least 6% (but less than 10%), your contributions will increase by 1%. You can always opt out of these increases.
| Contributions | Group 1 (Generally Hired Before January 1, 2007) | Group 2 (Hired or Acquired After December 31, 2006) |
|---|---|---|
| ITW Matching Contribution | 3.5% | 4.5% |
| ITW Retirement Contribution | Pension contribution | 401(k) Retirement contribution |
To find out more about the plans, log on to ITWemployee.com and look for the 401(k) Retirement Plan or Pension Plan icons under the Benefit Provider Websites dropdown.
Even More Ways to Save
These tax-advantaged accounts can help you make smarter money choices, which benefits you in the long run.
Commuter Benefit
If you rely on public transportation to get to or from work, or if you pay for parking at your commuter station or workplace, the commuter benefit program allows you to use before-tax dollars to pay for eligible transportation expenses. Contribute up to $325 per month for eligible public transportation expenses and/or eligible parking expenses.
Click to view a quick start guide and FAQs, or log on to ITWemployee.com and click on Commuter Benefit under the My Benefits drop-down. Call 1.877.924.3967 or visit healthequity.com/wageworks to register and enroll.
Contacts
ITW 401(k) Service Center
ITW 401(k) Retirement Plan information
Log on to ITWemployee.com, then click on the 401(k) Retirement Plan icon.