Rite Aid has a retirement plan, but it is not as comprehensive as other plans available. The retirement plan offers employees a 401(k) plan, which allows employees to contribute up to $18,000 per year. Employees also have the option to contribute to a traditional IRA account. The plan also offers a defined contribution plan, which allows employees to make pre-set contributions to the plan. Employees can also choose to make lump sum distributions from the plan at any time. The retirement plan has a minimum contribution requirement of $2,000 per year.
Employees can also choose to have the company contribute additional funds to their account. The retirement plan has a benefit cap of $60,000, which means that employees can only receive benefits up to this amount. Employees can also receive benefits if they are disabled and the company pays for these benefits. Employees can view their retirement plan information online.
