Baxter International Retirement Benefits

Through the Baxter Employee Stock Purchase Plan (ESPP), Baxter employees have the opportunity to share in the growth that Baxter generates for its shareholders. The Baxter ESPP allows Baxter employees to purchase Baxter common stock each month, at a 15% discount, through payroll deductions. However, participants should be made aware that owning too much Baxter stock opens you up to specific stock risk.

Baxter employees can enroll in the Baxter 401(k) plan the first of the month following 30 days of service and choose the amount of pre-tax (traditional) savings — from 1% to 50% of pay (subject to annual dollar limits under federal law).

Baxter matches 3.5% on the first 4% of employee contributions. 

In addition, for eligible participants, Baxter provides a non-matching contribution of 3% of eligible pay each year, provided employees are employed on the last business day of that year. Employees can choose from a variety of mutual funds, immediately gain 100% ownership rights in Baxter’s matching contributions and become fully vested in Baxter’s non-matching contributions after three years of service.

The Baxter 401(k) is custodied at Voya Financial and uses State Street Global Advisors mutual funds.

If you’re 59 ½ or older, even if you still work at Baxter, you can do an in-service rollover of your 401(k) balance to an IRA.

Save yourself the 401(k) plan fees on the money rolled over, and gain access to far broader investment options. You’ll also still be able to continue to add new money to the Baxter 401(k) plan each payday and get your company match.

We have experience assisting present and former Baxter employees in their retirement planning decisions.

If you would like to discuss your options, please contact us. We’re just 20 minutes south of Baxter’s Deerfield Campus, via I-294.

We’re not affiliated with, nor endorsed by, Baxter International, Inc., Voya Financial, nor State Street Global Advisors.