We offer a highly competitive and generous 401(k) retirement savings plan, including company matching contributions, paired with financial tools and resources to support your long-term savings goals.
Plan Overview
U.S. residents
Thermo Fisher’s 401(k) Plan is administered by T. Rowe Price. You are eligible to contribute immediately, subject to plan and IRS limits as indicated below. The company will match 100% of 6% of your pay on pre-tax and Roth after-tax contributions.1, 2
You can contribute on a pre-tax, Roth after-tax and non-Roth after-tax basis.
| Pre-tax | Roth after-tax | Non-Roth after-tax | |
|---|---|---|---|
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How it Works |
Contributions are deducted from your paycheck before taxes are taken out; you’re taxed on your contributions and investment earnings at time of distribution |
Contributions are deducted from your paycheck after taxes are taken out; you’re not taxed on your contributions and investment earnings at time of distribution |
Contributions are deducted from your paycheck after taxes are taken out; you’re taxed on your investment earnings at time of distribution. Eligible for in-plan Roth rollover. |
|
Employer Match |
Eligible2 |
Not Eligible |
|
|
Deferral Limits |
1% – 50% of pay |
1% – 7% of pay |
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|
IRS Compensation Limit |
$330,000 for 2023 |
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IRS Contribution Limits |
$22,500 for 2023 (includes any pre-tax or Roth after-tax contributions) $66,000 for 2023 (includes all contribution types – pre-tax, Roth after-tax, non-Roth after-tax and company matching contributions) |
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Catch-up Contributions |
$7,500 over the annual IRS limit if you will be age 50 or older in 2023 (company match does not apply) |
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Vesting |
100% vested immediately in your contributions; 100% vested after two years of service for company matching contributions1 |
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Rollovers |
You can roll over vested balances from other qualified employers’ plans to the Thermo Fisher Plan |
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- May not apply to members of collective bargaining units.
- If you are hired on or after March 1, 2023, a one-year waiting period for employer match will apply.
How to Enroll
You are immediately eligible to enroll in the plan.
- To make your deferral and investment elections, visit troweprice.com or call T. Rowe Price at 1-800-922-9945.
- If you do not enroll within 30 days of hire, you will be enrolled automatically at 3% pre-tax. Your deferrals will be invested in an age-based target date fund.
Puerto Rico residents
Thermo Fisher’s 401(k) Plan is administered by T. Rowe Price. You are eligible to contribute immediately, subject to plan and IRS limits as indicated below. The company will match 100% of 6% of your pay on pre-tax and Roth after-tax contributions after one-year of employment.1
- May not apply to members of collective bargaining units.
How to Enroll
You are immediately eligible to enroll in the plan.
- To make your deferral and investment elections, visit troweprice.com or call T. Rowe Price at 1-800-922-9945.
- If you do not enroll within 30 days of hire, you will be enrolled automatically at 3% pre-tax. Your deferrals will be invested in an age-based target date fund.
CRG – PPD Plan
Your Thermo Fisher 401(k) Plan is administered by Fidelity. You are eligible to contribute immediately, subject to plan and IRS limits as indicated below. The company will match 100% of 6% of your pay on pre-tax and Roth after-tax contributions.1
You can contribute on a Traditional pre-tax, Roth post-tax or after-tax basis into the 401(k) plan.
| Traditional (pre-tax) 401(k) | Roth (post-tax) 401(k) | After-tax Program | |
|---|---|---|---|
|
How it Works |
Contributions are deducted from your paycheck before taxes are taken out; you’re taxed on your contributions and investment earnings at time of distribution |
Contributions are deducted from your paycheck after taxes are taken out; you’re not taxed on your contributions and investment earnings at time of distribution |
Contributions are deducted from your paycheck after taxes are taken out; you’re taxed on your investment earnings at time of distribution. Eligible for in-plan Roth rollover. |
|
Employer Match |
Eligible |
Not Eligible |
|
|
Deferral Limits |
1% – 100% of pay |
1% – 5% of pay |
|
|
IRS Compensation Limit |
$330,000 for 2023 |
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|
IRS Contribution Limits |
$22,500 for 2023 (includes any Traditional/pre-tax or Roth/post-tax contributions) $66,000 for 2023 (includes all contribution types – pre-tax, Roth post-tax, after-tax program and company matching contributions) A maximum limit for a highly compensated employee (HCE) is noted in the plan. If applicable to you, you will receive an email with the details. |
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Catch-up Contributions |
$7,500 over the annual IRS limit if you will be age 50 or older in 2023 |
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|
Vesting |
100% vested immediately in your contributions; 100% vested after four years of service for company matching contributions based on a graded vesting schedule |
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|
Rollovers |
You can roll over vested balances from other qualified employers’ plans to the PPD plan. You cannot roll over vested balances from the Thermo Fisher or Evidera plans. |
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- If you are hired on or after March 1, 2023, a one-year waiting period for employer match will apply.
How to Enroll
You are immediately eligible to enroll in the plan.
To make your deferral and investment elections, visit netbenefits.fidelity.com or call Fidelity at 1-800-835-5095.
CRG – Evidera Plan
Your Thermo Fisher 401(k) Plan is administered by Fidelity. Depending on the contribution type you elect, you can contribute up to certain limits and the company matches 100% of your contributions up to 6% of your pay (for eligible employees).
|
|
Pre-tax |
|---|---|
|
How It Works |
Contributions are deducted from your paycheck before taxes are taken out; you’re taxed on your contributions and investment earnings at time of distribution |
|
Employer Match |
Eligible |
|
Deferral Limits |
1% – 90% of pay |
|
IRS Contribution Limits |
$22,500 for 2023 |
|
Catch-up Contributions |
$7,500 over the annual IRS limit if you will be age 50 or older in 2023 |
|
Vesting |
100% vested immediately in your contributions and the company match |
|
Rollovers
|
You can roll over vested balances from other qualified employers’ plans to the PPD plan. |
How to Enroll
You are immediately eligible to enroll in the plan.
To make your deferral and investment elections, visit netbenefits.fidelity.com or call Fidelity at 1-800-835-5095.
