Retirement
The retirement plans offered by Honda provide you with basic levels of financial security along with healthcare coverage and other helpful benefits after you retire — and also provide the opportunity to save and invest for your future through pre-tax or Roth 401(k) contributions from Honda
Retirement Benefits
As an eligible associate, you are automatically enrolled in the Honda 401(k) Savings Plan (unless you elect not to participate). You decide how much you want to contribute using either pre-tax or Roth 401(k) contributions. In addition, as an eligible associate, you have the opportunity to participate in the Retirement Medical Program and to receive a Honda Loyalty Card.
Some associates hired before September 4, 2013, also have an earned and may be continuing to earn a pension as part of their retirement benefits. The Honda Pension Plan was closed to new entrants on that date. Associates who were hired or rehired prior to September 4, 2013, were given a choice between continuing to earn Pension benefits at a reduced rate (Option 1) or receiving a Company Service-Based Contribution to the Honda 401(k) Savings Plan (Option 2). These choices became effective January 1, 2014.
Here is a high-level overview of retirement benefits:
Associates hired on or after 9/4/13
Associates hired before 9/4/13 who chose
Option 1
Associates hired before 9/4/13 who chose
Option 2
  • Honda 401(k) Savings Plan
  • Honda 401(k) Savings Plan
  • Honda 401(k) Savings Plan
    • Associate Contribution
    • Associate Contribution
    • Associate Contribution
    • Company Service-Based Contribution
 
    • Company Service-Based Contribution
    • Company Matching Contribution
    • Company Matching Contribution
    • Company Matching Contribution
 
    • Company Savings Contribution
    • Company Savings Contribution
 
  • Honda Pension Plan (previously earned and ongoing)
  • Honda Pension Plan (previously earned only)
  • Retirement Medical Program
  • Retirement Medical Program
  • Retirement Medical Program
  • Honda Loyalty Card
  • Honda Loyalty Card
  • Honda Loyalty Card
If you qualify for retirement from Honda, you may also be eligible to continue purchasing life insurance.