You are encouraged to build savings for retirement or other long-term financial goals. Williams supports your efforts by offering:
401(k) Plan – The Williams Investment Plus Plan
The company provides a 4.5% fixed annual contribution and a company matching contribution up to 6%, dollar-for-dollar of your pre-tax and /or Roth contribution. Eligible compensation for The Williams Investment Plus Plan includes base pay, certain cash awards and bonuses and cannot exceed the annual IRS compensation limit (e.g., $280,000 for 2019).
Many financial advisors suggest saving at least 15% of your income for retirement which includes employer contributions. As a participant in The Williams Investment Plus Plan, if you defer at least 6% of your eligible compensation, you are generally saving 16.5% (employee contribution of 6% or more + 6% company matching contribution + 4.5% fixed annual contribution) for retirement even though you only contribute 6% of your compensation.
Employee Stock Purchase Plan
Eligible employees can purchase Williams common stock at a discount using after-tax payroll deductions. Enrollment in the Employee Stock Purchase Plan occurs twice a year, and the money you have set aside during each offering period is used to purchase company stock at a 15% discount based off of the lower of the stock price on either the first or last day of the offering period.