What Are Some Benefits of the JPMorgan Safeway 401k Plan?

What Are Some Benefits of the JPMorgan Safeway 401k Plan?

The benefits of Safeway's 401(k) retirement plan, with J.P. Morgan as trustee, include the ability to make investments online and to access to current account information online, according to Safeway. As of 2015, plan participants may contribute a maximum of $18,000 to their 401(k) accounts, states the IRS.

As of 2015, Safeway employees also have the benefit of borrowing up to the greater of 50 percent or $50,000 from their 401(k) at an interest rate of prime plus 1 percent. Any employee who invests through the plan in Safeway common stock may choose to receive dividends in the form of additional stock shares, in addition to the cash payment option available to all plan participants, the Securities and Exchange Commission reports.