Walmart 401(k)

Most retailers like Walmart offer a 401(k) plan to their employees, but not all 401(k) plans are created equal. The rules for plan contributions, employer contributions, vesting, and withdrawals may vary from company to company. If you participate in Walmart’s 401(k) plan, there are certain 401(k) rules you should be familiar with. 

You will be eligible to participate in the Walmart 401(k) plan once you are hired and entered into Walmart's payroll system. You can start making contributions to the 401(k) plan after receiving the first paycheck. However, you won't be eligible for an employer's match until you have completed one year of service and earned at least 1,000 hours of service. Once you become eligible for the match, you can receive up to a 6% match on your contributions.

Walmart 401k provider

Walmart 401(k) plan is administered by Merrill Lynch. Walmart employees can get plan information and investment options online at www.benefits.ml.com or by calling Merrill Lynch customer service center at 888-968-4015. You can also use the Benefits Online app for iOS and Android.

Walmart 401k login

Walmart employees can log in to their 401(k) account online via the Merrill Lynch Website. You will need to provide your username and password to log in to your Walmart 401(k) account.

Walmart 401k match

Walmart matches contributions dollar-for-dollar on every dollar you contribute to the 401(k) plan after becoming eligible for the employer match, up to 6% of the eligible annual pay.

You become eligible for the employer’s match on the first day of the month after your first year anniversary of employment with Walmart if you have earned at least 1,000 hours of service in your first year of service and contribute to your 401(k) plan. You will only receive a match on the 401(k) contributions made after you became eligible for the employer’s match.

Walmart 401k customer service

You can contact the Walmart 401k customer service center online on, www.benefits.ml.com or by calling the Customer Service Center at 888-968-4015.

Walmart 401k loan

You can apply for a loan from the vested 401(k) balance while you are still working for Walmart Inc. You can request a 401(k) loan online at www.benefits.ml.com or by calling the Customer Service Center at 888-968-4015.

The maximum amount you can borrow from 401(k) is capped by IRS to the lesser of half of your vested 401(k) account or $50,000; the minimum amount you can borrow from your 401(k) account is $1,000. You can have one general-purpose loan and one residential loan at any time. The 401(k) loan repayment period may vary from one to five years unless you are using the 401(k) loan to buy a house, where the repayment period may be longer.

Walmart 401k after termination

If you are terminated from working at Walmart, you are entitled to receive a payout of your vested accounts in the plan. You can choose to receive the payout 30 days after the termination is entered into the payroll system.

When you leave Walmart, you will receive a notice either electronically or via mail informing you that you are entitled to a payout. If you don't receive the notice within 60 days after termination, you should contact the Customer Service Center at 888-968-4015. You can request a payout of all your vested accounts at www.benefits.ml.com or by calling the Customer Service Center at 888-968-4015.

Walmart 401k withdrawal

You cannot withdraw funds from your 401(k) plan until you have stopped working for Walmart. However, there are limited situations when you may be eligible for a payout while you are still working.

If you experience financial hardship, you may be eligible to withdraw part of or all of the vested 401(k) balance while you are still working. Generally, you may be eligible for financial hardship to pay medical expenses, costs related to the purchase of your primary residence, costs necessary to prevent eviction or foreclosure, etc.

Additionally, you can withdraw part of or all of your rollover contributions at any time even if you are still working for Walmart. If you rolled over funds from a previous employer, you will get access to these rollover contributions in your Walmart 401(k) plan account.

Walmart 401k early withdrawal

If you are younger than 59 ½ and you are still working for Walmart, you may be eligible to take an early withdrawal from your 401(k). However, you must have a financial hardship to be eligible for an early withdrawal.

Some of the expenses that qualify for financial hardship include medical care expenses, payments for burial or funeral expenses, as well costs incurred for the purchase of your primary residence.

Early withdrawals from a Walmart 401(k) plan account are subject to federal income taxes, and a 10% penalty tax if you are below 59 ½ at the time of withdrawal.

Walmart 401k rollover form

If you want to make a rollover to your Walmart 401(k), you should contact the company where the money is held and request a rollover. 

If you opt for an indirect rollover, have the check sent to your address in the amount you want to rollover, and payable to “Walmart 401(k) Plan, FBO (your name)”. You should forward the check alongside a signed Walmart 401(k) rollover form (PDF) and the necessary paperwork to Merrill.

If you need help with the rollover process, you can contact the Customer Service Center at 888-968-4015. You can also visit the Benefits Online website at www.benefits.ml.com to get the rollover packet.

Walmart 401k account number

You can find your Walmart 401(k) account number by accessing your account online at www.benefits.ml.com or by calling the Customer Service Center at 888-968-4015.

Walmart 401k phone number

To contact Walmart regarding your 401(k) plan account, you can call the Customer Service Center at 888-968-4015.

Walmart 401k administrator

The 401(k) plan administrator for Walmart 401(k) plan is Wal-Mart Stores Inc. You can contact the plan administrator at Wal-Mart Stores, Inc. Attn: Financial Benefits, 508 SW 8th Street, Bentonville, Arkansas 72716 0295 800-421-1362.

Walmart 401k eligibility

You are eligible to contribute to the Walmart 401(k) plan after you are hired and entered into the payroll system. Hence, you can start contributing to your 401(k) plan after receiving the first paycheck.

Walmart 401k vesting

Employee contributions, rollover contributions from previous employers, and matching contributions are fully vested at all times. Also, you are fully vested in Walmart’s contributions to your company funded 401(k) account. If you have a profit-sharing account, contributions to the account are subject to a six-year vesting schedule.

Walmart 401k app

You can access your Walmart 401(k) account using the Benefits Online app for iOS and Android.

Walmart 401k summary plan description

You can get the Walmart 401(k) summary plan description in the plan’s section of the Associate Benefits Book (PDF). You can also request a copy of the summary plan description by writing to the plan administrator at Wal-Mart Stores, Inc. Attn: Financial Benefits, 508 SW 8th Street, Bentonville, Arkansas 72716 0295 800-421-1362. You can also contact the Customer Service Center at 888-968-4015.

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