The resources you need to support your success
At Lam Research, we believe our greatest strength is our diverse group of talented employees. As such, we strive to offer you excellent benefits programs and packages that reflect this belief. Our commitment to developing a more diverse workforce is also evident in our benefits package, which provides a broad set of options that you and your family can select to fit your individual needs and customs. As a global company, we provide a wide range of benefits throughout our locations. Inquiries regarding international benefits should be directed to the specific Lam Research office in the respective foreign country.
As a Lam Research employee, you can expect superior benefits. These range from exceptional medical, dental, and insurance packages, to outstanding supplemental benefits such as educational assistance, onsite training courses, adoption assistance, and wellness programs. All of these are offered to help make your career at Lam Research a more rewarding experience.
The following benefits are available to employees working in the United States:
Health and Well-Being Benefits
Medical Coverage: Employees can choose from several comprehensive medical plans, including two Preferred Provider Organizations (PPOs), two Consumer Directed Health Plans (CDHP) with a Health Savings Account (HSA), and a Health Maintenance Organization (HMO) which is available in Northern California, and parts of Oregon and Washington.
Dental Coverage: Options range from preventive care only to more comprehensive coverage.
Vision Care: Options provides you with an annual exam and an allowance for frames, lenses, or contacts. Computer vision coverage is also included.
Health Care Flexible Spending Account: Your pre-tax dollars can be used to pay eligible medical, dental, and vision care expenses that aren’t covered by the health care plans.
Dependent Care Flexible Spending Account: Your pre-tax dollars can be used to pay your eligible dependent’s daycare expenses. Lam Research matches 15% of each employee’s contributions.
Wellness Programs: Up to $300 per year is provided for reimbursements of your eligible fitness/gym membership expenses.
Income Protection Benefits
Company-Provided Life Insurance and Accidental Death and Dismemberment (AD&D) Insurance: This program provides you with financial security for your family or other beneficiaries in case of death, and for death and dismemberment resulting from an accident.
Supplemental Employee-Paid Life Insurance and Accidental Death and Dismemberment (AD&D) Insurance: Employees can opt for additional financial security in the event of life-changing circumstances.
Dependent Life Insurance: Unexpected expenses resulting from the death of your spouse or dependent child can be covered if you elect this program.
Voluntary Disability Insurance (VDI) and Short-Term Disability (STD) Plans: These plans provide you with income protection benefits during the first 120 days of disability.
Long-Term Disability (LTD) Insurance: This program provides you with a portion of your regular income if you cannot work for a period longer than 120 days as a result of a prolonged disability.
Financial Accumulation Benefits
401(k) Plan: This retirement savings plan offers investment opportunities and tax deferral benefits for all eligible employees. Lam Research matches 50% of the first 6% of eligible compensation deferred into the program, and our matching contributions vest immediately.
Bonus Plan: All eligible employees participate in a semi-annual performance bonus based on the achievement of both corporate and organizational goals.
Employee Stock Purchase Plan (ESPP): At designated intervals, you may purchase Lam Research stock directly from the Company at 85% of fair market value.
Work and Family Benefits
Paid Time off (PTO) Program: Days of PTO accrue incrementally based on your years of service.
Holidays: There are 12 paid holidays per year.
Additional paid time-off: Available for jury duty and bereavement.
Educational Assistance: Assistance is available to reimburse you for expenses incurred for registration, tuition, and books in career-related courses.
Employee Assistance Program (EAP): You and your dependents can receive confidential help from mental health, financial, and legal professionals free of charge.
Work/Life Resource and Referral Program: Referral services are provided for childcare and elder care, as well as for school, college, and adoption assistance. Educational materials and onsite seminars related to work and family balance are also offered.
Adoption Assistance: If you are adopting a child, you can be reimbursed up to $2,000 to help cover the expenses of adoption.
• Matching charitable contributions plan
• Recreational and entertainment discounts
• Patent and Author Incentive programs
• Employee referral awards
• Service award programs
• Employee services
• Critical Illness insurance
• Auto, Home and Pet insurance
• Group legal service plan
Important Note: This information provides an overview of certain provisions under the Lam Research U.S. Benefit Programs. It is not intended to be a complete description of these benefits. Lam Research may terminate, withdraw, or modify any benefits described here, in whole or in part, at any time. The description of these benefits is not a guarantee of future employment or benefits. If there is any conflict between this information and the official plan documents, the official plan documents will govern.