Retirement and Financial Benefits

	Health Insurance		Retirement and Planning
	Life and Travel Insurance		Work and Life Balance

Genzyme Corporation 401(k) Plan

Employees who receive a distribution from another employer's qualified plan may deposit all or part of it in the Genzyme 401(k) Plan even if they are not yet active participants.

Employees with an outstanding 401(k) loan from another employer's qualified plan, may roll over the loan to the Genzyme plan and continue repayments.

Employees are eligible to participate in the Genzyme Corporation 401(k) Plan as of their date of hire if they are age 21 or older and work at least 1,000 hours per year.

Employees can contribute from one to 60 percent of their eligible compensation, subject to IRS limits, on a pre-tax basis. The 2006 IRS pre-tax deferral limit is $15,000.

Employees may enroll or change their contribution percentage to the plan at any time. Investment allocations within the plan may also be changed at any time.

Matching Contributions

Genzyme will match 1 dollar for every dollar of employee contributions to the plan up to 6%. You are fully vested starting at the time you join the plan.

Investment Choices

Employees may choose from various investment alternatives, including a Genzyme General Division stock choice for both employee and company contributions to the plan.

Financial Advisors

Genzyme provides access to CAPTRUST Financial Advisors to help with saving and investing for retirement. Employees can meet one-on-one with a professional to plan for retirement, participate in on-site group education meetings by CAPTRUST, and take advantage of their toll-free advice hotline.

Employees are eligible to enroll in the Employee Stock Purchase Plan (ESPP) during the semi-annual enrollment if they are regularly scheduled to work at least 20 hours per week. They may choose to purchase company stock through payroll deductions with post-tax dollars at a discount to market value on the date of purchase. They may enroll in offerings for the tracking stocks of the company.

Each stock subscription period is 24 months with new offerings starting every six months. The purchase price is 85 percent of the lowest of the closing prices on either the first day of the enrollment period, or the actual purchase date.

Terms and Conditions of Use | Privacy Policy | © 2002-2008 Genzyme Corporation. All rights reserved.