These companies offer the best 401(k) plans and are minting millionaires

Costco doesn’t just pay above-average wages. It puts money in your 401(k) whether you contribute a dime or not. Workers with at least a year of service get a contribution worth 4% of their pay automatically, rising to 9% after 25 years, the Wall Street Journal reports. It’s part of why thousands of Costco’s hourly workers have amassed over $1 million in retirement savings.

Other employers go even further. Southwest offers a dollar-for-dollar match up to 9.3%. Visa puts in $2 for every $1 an employee saves, up to 5% of pay. Unionized Ford and GM workers get a 10% contribution, with no matching required.

Then there’s the employee stock route. Publix automatically gives shares to employees after 1,000 work hours in a year, and grocery chain Stewart’s Shops runs an ESOP instead of a 401(k) entirely, reporting over 200 cashiers who’ve become millionaires through stock ownership alone.

The common thread: companies view generous retirement benefits as a retention tool, not just a perk, especially in industries built on keeping experienced workers around.

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