Many U.S. employers offer 401(k) retirement plans with varying degrees of generosity, with some companies providing particularly sizable contributions to support employee savings. Costco Wholesale stands out for its approach, which has helped thousands of front-line, hourly workers accumulate 401(k) balances exceeding $1 million. The retailer contributes 4% of an employee’s pay starting after one year of service, increasing with tenure to as much as 9% for employees with 25 or more years at the company. Additionally, Costco offers a modest match allowing workers who contribute $1,000 annually to receive an extra $500 from the company. This combination of retirement benefits, alongside competitive wages and affordable healthcare, is part of Costco’s broader strategy to reduce turnover and retain experienced staff.

While Costco’s nonelective contributions play a significant role in boosting employee retirement savings, other firms provide high-value matching programs to attract and retain top talent. According to an analysis of 401(k) plans, the average employer match stands at about 4.7% of eligible salary. Only a small percentage—6%—promise matches totaling 7% or more. However, certain companies go well beyond the average: Southwest Airlines offered a dollar-for-dollar match up to 9.3% of salary in 2024, and Boeing provided an even higher match of 10%.

Credit card companies Visa and Mastercard use accelerated matching formulas, contributing $2 or $1.67 respectively for every $1 an employee deposits, up to certain limits. These arrangements translate to a total employer contribution around 10%, although employees do not need to contribute at the full threshold to receive the maximum match. Human resources experts note that such high matching rates create strong incentives for employee participation and simplify communication about benefits.

Nonmatching, or nonelective, contributions supplement retirement plans at some organizations, often packaged as profit-sharing or employee stock ownership plans (ESOP). For example, Altria Group combines a 3% match with profit-sharing to deliver total contributions between 13% and 17%. Aerospace Corp., a non-profit government contractor, also combines a 3% match with nonelective contributions to reach 12% contributions for its longest-tenured workers. These arrangements are more prevalent in certain sectors, such as legal services, where companies tend to offer nonmatching contributions exclusively.

Unionized employees at Ford and General Motors benefit from 10% nonelective contributions under 2023 contract negotiations, an increase from previous levels. Both automakers ceased offering pensions to new hires approximately 20 years ago, shifting their focus to defined contribution plans.

ESOPs remain popular in industries like manufacturing and construction, often paired with 401(k) offerings. Grocery chain Publix grants employees shares after meeting a work hour threshold and offers additional stock purchases, while Stewart’s Shops operates an ESOP-only retirement model. These stock ownership programs have allowed some employees to build significant wealth, with Stewart’s reporting over 200 cashier-level employees achieving millionaire status.

Beyond traditional retirement contributions, Boeing and other employers have introduced benefit programs allowing employees to receive 401(k) matching on qualifying student loan payments. This innovation, enabled by the 2022 Secure 2.0 Act, supports workers who prioritize debt repayment. Companies such as Verizon, Chipotle, Comcast, Walgreens, and News Corp. have also adopted similar initiatives, expanding the ways employees can grow retirement savings while managing educational debt.