Teradyne believes in sharing the company’s success with employees. Share in our success, take advantage of the range of investment options, enjoy the potential benefits of a limitless cash profit sharing plan and be sure to check out the 15% employee discount in the Stock Purchase Plan.
Savings Plan Plus (SPP)
We believe in letting you determine how best to reach your financial goals. That’s why our SPP program, administered through Fidelity Investments, offers over 20 investment choices.Your personal savings are important to your long-term financial security. Teradyne's SPP program allows you to save additional retirement income, above the benefits provided by Social Security.
The SPP program helps your retirement savings grow by matching your contributions. Most employees will be eligible for company matching contributions. Teradyne will contribute $1 for each $1 you contribute up to 4% of eligible compensation. The company matching contributions will post to your plan account following the end of the year. You may invest up to 50% of your pay, with either pre-tax or after-tax dollars. You are eligible to enroll in this plan the day you start working for Teradyne.
Cash Profit Sharing Plan
Twice each year our Profit Sharing Plan distributes 10% of the company's pre-tax profits to eligible employees. The amount you receive is based on your annual salary. There is no limit to the amount of profit sharing that can be distributed. (Please note: LitePoint, Universal Robots and AIT Business Units are not participants in this program).
Stock Purchase Plan
Another way to share in the success of our company is through Teradyne’s Stock Purchase Plan. Employees can invest from 2% to 10% of their pay with this plan every six months. Your contributions will be put towards the purchase of Teradyne stock, which you buy at a 15% discount.
Short Term Disability (STD)
If you are hospitalized overnight or are out of work for more than five consecutive work days due to a non-work related injury or illness, Teradyne’s STD Plan will provide 75% of your salary for the first 90 days of disability and 60% for the next 90 days (275 days in California). Teradyne pays for STD coverage up to $50,000 of your salary per year. If you earn more than that, you may purchase additional low-cost coverage up to the amount of your total salary.
Long Term Disability (LTD)
If you are hospitalized or out of work as a result of an illness or accident for more than 180 days (365 days in California), Teradyne’s LTD Plan pays 60% of your salary. Teradyne pays the entire cost of this benefit.
Long Term Care
Long Term Care involves personal care for people with a prolonged physical illness, disability, or cognitive disorder such as Alzheimer’s disease. Long Term Care Insurance helps cover the cost of services received in your home or in facilities such as an assisted living facility, adult day care center or conventional nursing home.
Teradyne’s Life Insurance Plan provides basic coverage of 1.5 times your annual earnings. Teradyne pays the entire cost of this coverage. You may also choose to purchase supplemental life insurance and Accident, Death & Personal Loss coverage for up to five times your annual earnings. You pay a low group premium for this coverage.
Spouse/Domestic Partner and Dependent Child Coverage
Teradyne employees can purchase spouse/domestic partner and dependent child life insurance at a low group rate.
Travel Accident Insurance
Teradyne’s Business Travel Accident Insurance Plan provides coverage for accidental death or dismemberment while traveling on company business.
Teradyne offers a variety of medical plans to help meet the health needs of you and your family. All our plans offer comprehensive care for you, your spouse or domestic partner and children. Your health benefits begin the day you start work at Teradyne. Check with Human Resources for the plans that are available in your geographic area.
Teradyne offers a high-quality dental plan through Delta Dental. The plan covers diagnostic, preventive and restorative treatments, as well as orthodontic services for children and adults.
Vision Care Coverage
Through Vision Services Plan (VSP), a nationwide network of more than 28,000 independent optometrists and ophthalmologists, Teradyne employees are given exceptional eye care coverage. Teradyne’s plan covers annual eye exams, lenses and frames, as well as other services.
Teradyne offers four pre-tax reimbursement accounts for expenses not covered by other plans. Certain limits apply for each plan.
Health Care Account
You can use this account for the reimbursement of certain medical expenses that are not covered by your health, dental or vision care plans, including deductibles and co-payments.
Dependent Care Account
You can use this account for the reimbursement of childcare, elder care, and disabled care of family members who live with you and whom you claim for tax purposes.
Adoption Care Account
You can use this account for the reimbursement of adoption-related expenses such as fees for adoption agencies and attorneys, court costs and travel expenses.
You can use the TransitFlex account for reimbursement of fares if you use public transportation to commute to work. You may also use the parking component of TransitFlex if you park at a public lot while you take public transportation.
Teradyne pays 100% of the cost up front for any educational course related to your work or as part of a degree program at an accredited school (maximum caps apply), including tuition, lab fees and books (minimum grade requirements apply).
Teradyne offers continuous learning courses for employees, including: computer training, management and leadership classes, technical and engineering classes, and more.
Internal Job Postings
Our internal job postings help you to enhance and continue your career with Teradyne. Our continued success depends on finding the best individuals available to fill our open positions. Current employees are given first consideration for job openings.
Employee Referral Program
Employees are encouraged to recommend candidates from outside the company for jobs at Teradyne. Teradyne pays a bonus to employees who refer someone we hire.
Time Off and Holidays
Teradyne offers an all-purpose time-off program. You’ll receive 15 to 30 days off per year depending on your length of service with the company. In addition, Teradyne provides eight and-a-half company paid holidays each year and two flex holidays that you can use any time you want.
Car and homeowners insurance – MetLife offers Teradyne employees in most locations a discount on premiums for car, homeowners, and rental insurance.
Group Legal – Services include wills, real estate closings, debt collection, identity theft defense, and more.
MetDesk – Benefit for children or other dependents with special needs.
Pet Insurance – Underwrites your pet with a policy to cover thousands of medical problems and conditions, including hospitalization, lab fees, and surgeries.
Teradyne offers Ceridian’s LifeWorks program as your resource to help you balance work, education, family, and other issues that are important to you. LifeWorks offers a network of counselors who are available to consult with you over the phone and refer you to other appropriate resources in your area.
Many Teradyne locations offer access to on-site gym and workout facilities, as well as health enrichment programs, which include fitness appraisals, weight and stress management classes, various sports leagues, and health and fitness training.
Many locations offer discounts on different local and national amenities, such as movie passes, printing services and amusement parks.