Our success is enabled by our world-class employees, who are the reason nearly every chip is built with Lam technology. Our dynamic employee team is essential to the company’s continued growth, so we offer a range of benefits to support you today and help you build the future you envision for yourself and your family.
You are eligible for all Lam benefits on your date of hire, but you have a limited time to select several important benefits, so make time right away to learn about your options.
What you need to do within 30 days
Within the first 30 days after your start date, enroll in the following benefits, based on your needs and the needs of your family:
- Medical plans (including prescription drugs)
- Dental plans
- Vision plans
- Health Care FSA
- Dependent Care FSA
- Supplemental life and accidental death and dismemberment (AD&D) insurance
- Group legal
- Voluntary supplemental medical benefits
- 401(k) plan: Enroll after you receive your first Lam paycheck to choose your contribution level or opt out. If you don’t do anything, you’ll be enrolled automatically after your first paycheck at a 6% pretax contribution level, which qualifies for the full company match. If you’ve participated in another employer’s 401(k) plan this year, it is your responsibility to monitor your contributions so the combined total does not exceed IRS limits.
- Employee Stock Purchase Plan (ESPP): Enroll during the next available enrollment period in late April or late October.
Be sure to enroll in these benefits within 30 days of your start date at Lam. After you enroll, you cannot make changes to your benefits until the next annual enrollment period unless you have a qualifying life event (such as getting married or divorced, having or adopting a child, losing a dependent, or losing other coverage). You have 30 days from the qualifying event to make changes (60 days after the birth of a child).
- It can take up to 5 business days for your employee record to be active with PlanSource, where you’ll enroll in benefits. You’ll receive an email from PlanSource at your Lam email address when you can begin enrollment.
- It may take another 10 business days after enrollment for each vendor to set up your benefits and provide ID cards as needed. The effective date of your coverage will be your Lam hire date.
- Your employee record will be active with Fidelity, the Lam 401(k) administrator, after your first pay period at Lam. Fidelity will send you an email at your Lam email address when you can access your account to select your contributions and investments or opt out of automatic enrollment.
Benefits you get automatically
Lam Research automatically provides the following benefits to you:
- Basic life and accidental death and dismemberment (AD&D) insurance at 2 times your base salary
- Long-term disability insurance
- Short-term disability insurance
- California Voluntary Disability Insurance (VDI) program [PDF]: For California employees, short-term disability is provided through VDI as employee-paid insurance in lieu of State Disability Insurance.
- STD program [PDF]: Employees outside of California will be enrolled automatically; however, this program is voluntary, and you can choose to not participate.
- Employee Assistance Program
- 401(k) plan: You’ll be enrolled automatically at a 6% pretax contribution level (which qualifies for the full company match) unless you choose a different contribution level or opt out within your first 30 days. Once enrolled, you can change your contribution or opt out at any time.
- Lifestyle Account: You’ll be enrolled automatically for this benefit, which provides up to $500 per year for a variety of expenses related to fitness, financial planning, and education.
- Child and elder care from Care.com. You’ll be enrolled automatically in this online membership service that helps you find and hire [PDF] trusted providers for child care, adult and senior care, home care, pet care, and tutoring.
Benefits you can enroll in later
The following benefits are available year-round or have specific enrollment periods, as described on the relevant page: