Careers that
change lives
Resources to help you build,
grow, and connect
For U.S. employees
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We change lives
No matter your role at Medtronic, you help transform lives. These
efforts are reflected in Tenet 5 of our Mission, and rewarded through a
complete package of benefits, pay, and resources designed to support
you at every career and life stage.
20+
Benefit eligibility
All regular employees who
work 20+ hours per week are
eligible for Medtronic benefits
on their date of hire, unless
otherwise noted.
We partner with you to:
Build your financial, physical,
and emotional well-being
Grow professionally through
learning, partnership, and
unique work opportunities
Connect to a community
dedicated to our Mission
and each other
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Build your health
Build your health
• Support your physical well-being
• Meet you where you are
Build your wealth
• Provide you peace of mind
• Extra benefits to meet your needs
• Save for your future
• Reward your contributions
Build a balanced life
• Take time off work
• Care for your family
Grow your career
Connect to the greater good
• Medtronic philanthropy
Learn about your benefits
• Use your resources
• See your total rewards
Support your physical well-being
Medical coverage
You may choose from several
medical plan options, depending
on your location. In all plans,
preventive care is covered innetwork at 100% and prescription
drug coverage is included.
Dental coverage
You have two dental plan options,
administered by Delta Dental.
With both plans, preventive care
― such as 6-month cleanings ― is
covered at 100%.
Vision coverage
Tax-advantaged accounts
for healthcare expenses
Healthier Together
(global well-being program)
• If you enroll in the Consumer
Health Plan (CHP), you can
contribute to a Health Savings
Account (HSA), which is also
funded by annual company
contributions. You own
the HSA, and can roll over
unused money to cover future
expenses.
Healthier Together provides
you and your covered spouse/
domestic partner (DP) with
activities, challenges, and
resources. You can set healthy
goals, follow personalized tips,
and join a supportive network.
Medtronic also offers on-site
fitness centers, discounted health
club memberships, and a virtual
wellness channel with workouts,
meditations, and more.
• For any of the other medical
plans, you can contribute to a
Healthcare Flexible Spending
Account (FSA).
You can enroll in vision coverage
through VSP, which helps you pay
for eyeglasses, contact lenses,
and other eye care expenses.
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Meet you where you are
Build your health
• Support your physical well-being
• Meet you where you are
Build your wealth
• Provide you peace of mind
• Extra benefits to meet your needs
• Save for your future
• Reward your contributions
Build a balanced life
Personalized support
Fertility and pregnancy guidance
• If you or a family member has an ongoing care
need — such as an aging parent, a child with
special needs, or a spouse/DP with a new
diagnosis — Wellthy is available to help you
manage day-to-day activities, find in-home
support, evaluate care options, answer financial
and legal questions, and more.
• Ovia Health helps families navigate fertility,
pregnancy, and parenting with personalized,
digital, and data-driven solutions — and support
from a registered nurse health coach.
• You can also take advantage of additional
programs to keep you healthy and help save
money, such as Hello Heart for managing high
blood pressure and Rx Savings Solutions
for finding the best deals on your prescription
medications.
• With your Medtronic medical plan, fertility and
family-building benefits are provided through
Kindbody and includes coverage for treatments
like egg freezing and IVF, and medication.
Healthcare advocacy
Included Health offers concierge-style services for
a range of LGBTQ+ and Black healthcare needs —
including finding culturally-affirming, high-quality
health providers, navigating your benefits, and
connecting with trusted community advocates.
• Take time off work
• Care for your family
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• Medtronic philanthropy
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Build your wealth
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• Support your physical well-being
Annual Benefits Base
Rate (ABBR) = your base
salary as of January 1, plus
a 3-year average of variable
pay (i.e., commissions,
Medtronic Incentive Plan
payouts, etc.)
• Meet you where you are
Build your wealth
• Provide you peace of mind
• Extra benefits to meet your needs
• Save for your future
• Reward your contributions
Build a balanced life
• Take time off work
• Care for your family
Grow your career
Connect to the greater good
• Medtronic philanthropy
Learn about your benefits
• Use your resources
• See your total rewards
Provide you peace of mind
Life insurance
Medtronic provides basic life
insurance equal to 1 times
your Annual Benefits Base Rate
(ABBR), at no cost to you. You
may also purchase additional life
insurance coverage:
• Employee: 1 to 15 times your
ABBR, up to $4 million
• Spouse/DP: $10,000 to
$250,000
• Child(ren): $5,000 to $25,000
Accidental death &
dismemberment insurance
For additional financial security
in case of accidental death or
serious injury, you can enroll in
employee or family coverage
ranging from $100,000 to
$500,000.
Business travel accident
insurance
Medtronic provides life insurance
equal to 6 times your ABBR, up to
a maximum of $1.5 million, in the
event of your accidental death
while traveling on business.
Salary continuation
(short-term disability)*
You’ll receive salary continuation
if you miss work due to personal
illness, injury, or disability. All or
part of your salary will continue
for a maximum of 26 weeks of an
approved leave — 100% of your
salary for up to nine weeks and
70% for the remaining weeks.
For birth mothers, you’ll receive
100% of your salary for up to
12 weeks to heal and bond with
your baby.
* Employees who work less than
20 hours per week are eligible for
this benefit.
Long-term disability
If you remain ill or injured for a
longer period of time, basic longterm disability coverage is paid
by Medtronic and provides 50%
of your ABBR, up to a maximum
of $12,500 per month. You can
also purchase additional disability
coverage:
• Option 1: 60% of ABBR, up to
$15,000 per month
• Option 2: 662/3% of ABBR, up to
$23,250 per month
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Extra benefits to meet your needs
Build your health
• Support your physical well-being
• Meet you where you are
Supplement your medical coverage
Take care of your family
• Accident Insurance provides you with a cash
benefit in the event of a covered accident.
• Pet Insurance reimburses you for vet bills when your
dog or cat is sick or injured, with unlimited annual
coverage for unexpected accidents and illnesses.
• Critical Illness Insurance provides you with a
cash benefit following the diagnosis of a serious
illness or health condition.
Build your wealth
• Hospital Indemnity Insurance provides you with
a cash benefit if you are hospitalized, expectedly
or unexpectedly.
• Extra benefits to meet your needs
Make your dollars count
• Provide you peace of mind
• Save for your future
• Reward your contributions
Build a balanced life
• Take time off work
• Care for your family
Grow your career
Connect to the greater good
• Medtronic philanthropy
Learn about your benefits
• Use your resources
• See your total rewards
• Long-Term Care insurance provides financial
coverage for a range of services for ill or disabled
family members, from in-home care to nursing or
community facilities.
• Group Auto/Home Insurance offers discounts
on your home and auto insurance.
• Commuter benefits let you pay for qualified
work-related commuting and/or parking expenses
on a pre-tax basis.
• Dependent Day Care spending account allows
you to make pre-tax contributions to pay for
childcare or elder care expenses, such as licensed
nursery schools, before- and after-school care,
day camps, or caregiving services.
• Perks at Work discount program saves
you money on food, travel, tickets, apparel,
electronics, and more.
Protect your rights
• Identity Theft Protection looks after your online
activity to help protect the trail of data you leave
behind.
• Legal Plan provides access to a nationwide
attorney network for legal advice or services,
including help with small claims, traffic tickets,
and estate planning.
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Save for your future
Medtronic 401(k) Plan*
Build your health
• Support your physical well-being
• Meet you where you are
Build your wealth
With the Medtronic 401(k) Plan, you can save for retirement through a combination of your contributions
and company contributions. You’ll be automatically enrolled after 60 days of employment, unless you elect
otherwise. At that point, 6% of your eligible pay will be deducted each pay period on a pre-tax basis. Your
contribution will automatically increase by 1% each year until you reach a contribution rate of 10%.
Here’s how the Medtronic 401(k) Plan works:
• Provide you peace of mind
• Extra benefits to meet your needs
• Save for your future
• Reward your contributions
Build a balanced life
• Take time off work
• Care for your family
Grow your career
Connect to the greater good
• Medtronic philanthropy
Learn about your benefits
• Use your resources
• See your total rewards
Your contributions
+
• Contribute 2% to 75% of
your pay, up to IRS limits
• Contributions can be made
pre-tax and/or Roth after-tax
• Choose from several
investment options
Medtronic matching
contribution
+
• Each pay period, Medtronic
will match 50% of the first
6% of pay you contribute
• Get the maximum match by
contributing at least 6% of
your pay
Core contribution
• Medtronic will make an additional
contribution equal to 3% of your
pay, regardless of whether you
contribute
• Medtronic may make additional
matching contributions at the end
of the plan year, based on company
performance
• Over the last decade, our company match averaged 4.5% for employees who contribute at least 6%.
• You become vested in Medtronic matching and core contributions after three years of employment.
You’ll receive enrollment information from Fidelity, our retirement service provider.
* Employees who work less than 20 hours per week are eligible for this benefit.
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Build your health
• Support your physical well-being
• Meet you where you are
Build your wealth
• Provide you peace of mind
• Extra benefits to meet your needs
• Save for your future
• Reward your contributions
Build a balanced life
• Take time off work
• Care for your family
Grow your career
Connect to the greater good
Employees Stock Purchase Plan (ESPP)*
You can purchase Medtronic stock at a discounted price, giving you a stake in the company’s
long-term success. You can enroll in the ESPP each calendar quarter and contribute 2% to 10%
of your earnings on an after-tax basis through payroll deductions. At the end of the quarter,
your contributions will be used to purchase Medtronic stock at 85% of the fair market value.
Non-Qualified Retirement Plan Supplement (NRPS)*
Medtronic provides the NRPS to employees who have eligible earnings above the IRS
compensation limit for the Medtronic Core Contribution. Employee contributions are not
permitted to the NRPS.
• Medtronic philanthropy
Capital Accumulation Plan (CAP)*
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• Use your resources
This is a non-qualified deferred compensation plan that enables eligible employees to defer
portions of their compensation into the future on a pre-tax basis. Eligibility is based on your
job level or if your earnings exceed IRS compensation limits.
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* Employees who work less than 20 hours per week are eligible for this benefit.
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Reward your contributions
Build your health
• Support your physical well-being
• Meet you where you are
Build your wealth
• Provide you peace of mind
• Extra benefits to meet your needs
• Save for your future
• Reward your contributions
Build a balanced life
• Take time off work
• Care for your family
Grow your career
Connect to the greater good
• Medtronic philanthropy
Learn about your benefits
• Use your resources
• See your total rewards
Base salary
Short-term incentives
Our compensation philosophy
ensures your contributions are
recognized through an equitable,
market-competitive approach.
Your base salary is based on a
number of factors, including your
skills, competencies, and longterm performance.
All Medtronic employees are
eligible for one of these shortterm incentive plans, designed
to reward your contributions to
annual business results:
• Sales Incentive Plan (SIP) is
offered to sales/commissioned
employees who work with
customers in the field.
• Medtronic Incentive
Plan (MIP) is for non-sales
employees, with target
incentive percentages that vary
by job level.
• Operations Incentive Plan
(OIP) is for eligible
manufacturing and distribution
center employees, with target
percentages that vary by job
level.
Long-term incentives
Long-term incentives are designed
to align the actions of our senior
leaders with the interest of
shareholders, as well as attract
and retain high-performing talent.
Eligibility is based on job level.
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Build a balanced life
Build your health
• Support your physical well-being
• Meet you where you are
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Take time off work
Paid Time Off (PTO) bank*
The PTO bank promotes a flexible approach to time off for vacation, illness or disability, appointments,
emergencies, or other situations that require time off from work. All of your time off is combined into
one benefit, allowing you to choose how and when to use it.
• Provide you peace of mind
• Extra benefits to meet your needs
• Save for your future
• Reward your contributions
Completed years of
continuous service
Less than 4 years
After 4 years
After 14 years
After 24 years
Annual PTO accrual
20 days
25 days
30 days
35 days
Build a balanced life
• Take time off work
• Care for your family
Grow your career
Connect to the greater good
• Medtronic philanthropy
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• Use your resources
• See your total rewards
Holidays*
Year-end break
In addition to your PTO bank,
full-time employees receive
10 paid company holidays
each year. If you’re a part-time
employee, you’re granted
holiday pay equivalent to the
hours normally worked when the
company-designated holiday
falls on your regularly scheduled
work day.
Every year, Medtronic has a
year-end break in December
when production at many of our
facilities shuts down. During this
break, you’ll need to use PTO to
ensure you’re paid for this time —
typically three or four days.
* Please note that in this section,
eligibility is defined by the number of
hours you are regularly scheduled to
work each week, Full-Time (40 hours/
week) or Part-Time (less than 40 hours/
week). For more information, review the
PTO Policy on policy.medtronic.com.
Anniversary bonus week
To recognize and reward
your service, you’ll receive
an Anniversary Bonus Week
each time you celebrate a fifth
anniversary as a Medtronic
employee.
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Leave benefits
Build your health
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Build your wealth
• Provide you peace of mind
• Extra benefits to meet your needs
• Save for your future
• Reward your contributions
Build a balanced life
Whether you have an expected leave of absence, like welcoming a new baby, or need extended time away for
something more unexpected — Medtronic provides a range of leave benefits, programs, and policies.
Family Care Leave
Our Family Care Leave benefit
allows up to six weeks of 100%paid leave and covers a variety of
needs, including time taken to:
• Bond with a new child (for
birth, adoptive, surrogate, or
non-birth parents)
• Care for family after a spouse/
DP, child, or parent is called to
active military duty
• Care for your family
• Care for an eligible family
member’s serious health
condition
Grow your career
• Care for an immediate family
member who is terminally ill
• Take time off work
Connect to the greater good
• Medtronic philanthropy
• Grieve when a parent,
spouse/DP, or child passes
away (includes miscarriage
and stillbirth)
Healthy Pregnancy Program
incentive/paid parental
time off
This program provides tools,
resources, and nurse support
designed to help expectant birth
mothers have the healthiest
pregnancy possible. When
you or your covered spouse/
DP completes the Healthy
Pregnancy Program through a
Medtronic medical plan, you may
take an additional six weeks of
paid parental time off. Employees
who adopt or add a child to the
family through surrogacy are
also eligible for six additional
weeks of paid parental time off,
provided as an alternative to the
Healthy Pregnancy Program.
6 weeks of
100%
paid leave
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Care for your family
Medtronic Employee Assistance Program
(MEAP)*
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• Support your physical well-being
• Meet you where you are
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• Provide you peace of mind
• Extra benefits to meet your needs
• Save for your future
• Reward your contributions
MEAP provides you and your household family
members with the information, resources, and
referrals you need to navigate a family situation,
work transition, or any form of uncertainty or stress.
Support is available in whatever way works best for
you — you may speak with a live consultant, connect
with a behavioral health coach via text-based chat,
schedule an appointment with a licensed therapist
or psychiatrist, or access online informational
content and self-care activities.
* Employees who work less than 20 hours per week are eligible
for this benefit. On-demand components through Ginger are
available to employees and family members age 18+.
Build a balanced life
Adoption, Donor, and Surrogacy
Reimbursement Program
• Care for your family
To help cover expenses such as court fees, agency
fees, foreign adoption fees, donor egg and sperm
expenses, Medtronic provides a reimbursement
of $25,000 per child — up to a lifetime maximum
of $50,000.
• Take time off work
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• Medtronic philanthropy
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Bright Horizons (ongoing and back-up
childcare)
Bright Horizons can help you find quality childcare —
whether you’re considering your options for
ongoing care or need back-up care when regular
care arrangements fall through. This includes
preferred enrollment at Bright Horizons centers
or a 10% discount at a high-quality partner center.
For your adult or elder loved one, Bright Horizons
can help you locate assisted living or retirement
facilities, or back-up, in-home caregivers.
Tutoring assistance
If you’re looking to supplement your child’s education,
programs such as Khan Academy and Varsity Tutors
offer customized lesson plans and interactive content
for students in every grade and in most major subject
areas. You can also use your Bright Horizons back-up
care benefit to schedule time with an experienced
virtual tutor to help your 5- to 18-year-old stay on
track — or for adult learners in higher education.
Medtronic Scholarship Program
The Medtronic Scholarship Program offers financial
assistance to employees’ children as they pursue
post-secondary education, such as college or
vocational programs. Scholarships are awarded each
year to approximately 30% of applicants, with awards
valued between $500 and $1,500.
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Grow your career
Build your health
• Support your physical well-being
• Meet you where you are
Build your wealth
• Provide you peace of mind
• Extra benefits to meet your needs
• Save for your future
• Reward your contributions
Build a balanced life
• Take time off work
• Care for your family
Grow your career
Connect to the greater good
• Medtronic philanthropy
Learn about your benefits
• Use your resources
Employee Resource Groups
Service awards*
Our Employee Resource Groups foster a diverse
and inclusive workplace, and serve as networks
for employees who share common backgrounds
and interests, while providing valuable community
outreach and leadership opportunities.
Medtronic celebrates your commitment through
service awards at various career milestones ― such
as your first- and third-year anniversaries, and every
five years.
Higher education assistance
* Employees who work less than 20 hours per week are eligible
for this benefit.
With the Medtronic Advancement Pathways and
Skill Building (MAPS) program, you have access
to 100% direct tuition coverage, with no wait
for reimbursement, toward your choice of 75+
undergraduate degree programs. MAPS provides
online classes from a curated, top-tier network
of schools.
In addition, Medtronic offers tuition reimbursement
for undergraduate and graduate courses, up to
$3,000 and $5,250 per year, respectively. This
program is intended to develop skills for your
current position or prepare you for a career
change within Medtronic.
Recognition*
Recognize is our global platform to recognize
and connect with your colleagues for living the
Medtronic Mindset, making a difference, and
celebrating milestones and life events. Managers
are able to award Recognize points that employees
can redeem for experiences or merchandise.
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Connect to the greater good
Build your health
• Support your physical well-being
• Meet you where you are
Build your wealth
• Provide you peace of mind
• Extra benefits to meet your needs
• Save for your future
• Reward your contributions
Build a balanced life
• Take time off work
• Care for your family
Grow your career
Medtronic philanthropy*
Medtronic and the Medtronic Foundation partner with
employees and non-profit organizations to improve lives
and address inequalities. Our philanthropic efforts are
far-reaching and steeped in the generosity and passion of
Medtronic employees.
Through volunteering and giving, you can engage with the
causes and issues you care about to make a positive change.
Our employee programs include:
Medtronic
has donated
$1 billion to
communities
worldwide
since 1979
• Project 6 — annual employee volunteering celebration and kick-off
• Matched giving — a generous 1:1 match, up to $5,000 per year
to eligible non-profit organizations
• Volunteer grants — a $200 grant for every 10 hours of employee
volunteering for eligible non-profits (up to $1,000 per year)
1:1
• Volunteer Time Off — up to 40 hours of paid time off per year to
volunteer for approved crisis events or natural disasters (separate
from PTO or other types of leave)
* Employees who work less than 20 hours per week are eligible for this benefit.
Connect to the greater good
• Medtronic philanthropy
Learn about your benefits
• Use your resources
• See your total rewards
match up
to $5,000
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Learn about your benefits
Build your health
Use your resources
Build your wealth
benefits.medtronic.com is your one-stop-shop for
benefits information, tools, and resources. The site,
which covers health, wealth, and work/life benefits,
is available to you and your family members. You can
also download the MyChoice Mobile App to quickly
and easily access all your benefits from work or home.
• Extra benefits to meet your needs
See your total rewards
• Support your physical well-being
• Meet you where you are
• Provide you peace of mind
• Save for your future
• Reward your contributions
24/7
For a personalized view of the full value of your Medtronic Total
Rewards — including compensation, benefits, recognition, and more —
visit myrewards.medtronic.com. This tool is available 24/7 and provides
up-to-date data to help you take full advantage of your programs.
Build a balanced life
• Take time off work
• Care for your family
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• Medtronic philanthropy
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This communication was prepared in accordance with the Employee Retirement Income Security Act of 1974, as amended. It describes the
key features of various Medtronic employee benefit plans that provide medical, wellness, other health, life insurance and disability benefits
and retirement, time-away, compensation and work/life benefits. The purpose of this communication is to give you a general understanding
of the benefits available under the various Medtronic benefit plans. This communication represents only general summary information
about the terms contained in the official plan document. While we have made every effort to make this communication as accurate as
possible, if there are any inconsistencies between this communication and the applicable plan document, the terms of the applicable plan
document shall govern. Also, any questions or interpretations concerning benefits provided under the applicable plan will be resolved
using the terms of the applicable plan document, not this communication. No person can make any statements of any kind that alter the
terms of the applicable plan document. Accordingly you should not consider the applicable plan to have been amended based on written
or oral statements made by any employee, officer, director, or representative of Medtronic, including supervisors and Human Resources
representatives. If you believe that you have received information contrary to the terms of the applicable plan or this communication, please
contact the Benefits Service Center at 833-261-5740. These benefits are not automatically applicable to employees in collective bargaining
units whose terms and conditions of employment, including benefits, are subject to the collective bargaining process.
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