Employee retirement and financial security

Set your finances up for success

With retirement savings, pension plans, financial tools and discounts, we’ll help you prepare for your future and gain peace of mind.

401(k) Savings Plan

With our U.S. Bank 401(k) Savings Plan, you decide how to save and invest. You can make before-tax and Roth after-tax contributions from your pay into the investments you select. The plan also features immediate vesting and an employer match of 100% of your contributions up to 4% of your eligible pay after you complete one year of service.

Cash balance plan

We're among the increasingly rare companies that offer both a 401(k) and a cash balance pension plan. Funded completely by U.S. Bank, your account grows over time with pay credits based on your age, years of service and pay level, as well as an annual interest credit. You're 100% vested in your cash balance account after three years of service.

Protection plans

Illness and injury can happen any time. That’s why we offer employees who work at least 20 hours per week an additional layer of protection though our Critical Illness and Accident Protection plans. If you or a covered family member are diagnosed with a qualifying illness or experience a qualifying accidental injury, you receive a lump sum payment to use how you wish. 

Life and accident insurance

If you’re an employee who works at least 20 hours per week, we cover you with company-paid term life insurance equal to your annual pay. You may also buy additional term life for yourself and your dependents. In addition, you’ll receive company-paid business travel accidental death and dismemberment insurance, and the option to purchase additional coverage.

Disability insurance

When you have a year of service, our short-term disability program provides 100% pay replacement for up to 13 weeks (and 60% pay for another 13 weeks if needed) if you're unable to work due to illness or injury. Our long-term disability plan for employees who work at least 20 hours per week replaces either 50% or 60% of your pay and we provide a subsidy equal to the cost of the 50% coverage level.

Commuter plans and parking

With our Transit Plan, you can order transit and vanpool vouchers online or participate in certain local programs like Twin Cities Metropass programs and have the cost deducted from your pay with before-tax dollars. U.S. Bank will subsidize $35 of your transit order or Metropass cost each month. And with our Parking Flexible Spending Account you can use before-tax dollars to pay for work-related parking expenses.

U.S. Bank products and services​​​​​​​

Employees enjoy discounts on a variety of financial products and services, from checking accounts to credit products.