Retirement Plans

The H&M 401(k) Plan helps you prepare for your future with the opportunity to save using pre-tax dollars or the after-tax Roth option. H&M also matches a portion of your savings as an added incentive to save.

H&M 401(k) Plan

The H&M 401(k) retirement savings plan allows you to contribute PRE-TAX dollars from your paycheck to save for your future.

You may direct how your contributions are invested or choose to have the plan choose your investment portfolio based on your retirement age so your money grows over time.

Eligibility

Full-time and part-time employees who are age 21 and over are eligible for 401(k) after completion of one year of service and 1,000 hours.

Contributions

• You can contribute between 1% to 100% of your eligible pay, up to the maximum amount allowable by the IRS.
• If you are age 50 or over, you can also make catch-up contributions to the plan, increasing your savings potential.

H&M Match

H&M will match your contributions dollar-for-dollar for the first 3% that you contribute — that’s a 100% match!

The company will also match your next 2% of contributions at 50% — even more savings for you! In order to receive the full employer match, you need to contribute at least 5% of your pay.

It’s “free money” that allows your account grow faster and help you reach your retirement goals sooner.

Once you are eligible and participating in the plan, you are 100% vested in your own contributions and the company match.

This means all the money in your account belongs to you and there is no risk of forfeiting your match should you leave the company.

Roth 401(k) 

We also offer a Roth option of the H&M 401(k) Plan which allows you to contribute POST-TAX dollars from your paycheck.

This is an important and powerful added feature that allows you to determine when you pay taxes on your retirement dollars.

Eligibility, contribution amounts, and annual limits for the Roth contributions are the same as pre-tax contributions.

You may contribute to both the Roth (post-tax) and regular (pre-tax) at the same time. 

Employee Stock Ownership Plan

The Employee Stock Ownership Plan (ESOP) through Principal Financial offers you the chance to build long-term savings and ownership through company shares.

To be eligible, you must be an H&M employee, at least 18 years old, and either a U.S. resident or a non-resident earning U.S.-based income from H&M.

Eligibility also requires you work 100 hours in 12 months and are not part of a collective bargaining unit, unless coverage is included through bargaining.

Once you meet eligibility, you will be automatically enrolled in the plan. You do not need to take action to enroll.

Visit principal.com/welcome or call 800-986-3343 to learn more.