By Rebecca Ungarino
JPMorgan Chase is giving a payment of up to $1,000 to employees whose annual pay is less than $80,000, many of whom will receive it in the form of a contribution to JPMorgan retirement plans, Chief Executive Officer Jamie Dimon said in a staff memo on Tuesday.
Employees qualify for the payment if they participate in the bank's U.S. 401(k) plan, if they have worked there for at least one year, if their title is vice president or below, and if their total compensation is less than $80,000, according to a copy of the memo reviewed by Barron's.
Employees who work outside the U.S. will get a cash payment instead of a 401(k) contribution, the memo said. If U.S.-based employees don't participate in the savings plan, the bank will set up an account for them, it said.
The New York bank has some 318,000 employees globally. A JPMorgan spokesman declined to specify how many were eligible for the award, how much the award will cost the bank, and how management determined a threshold of $80,000.
The bank has made annual payments like these each year for at least the past decade. The salary threshold was $80,000 in 2024 as well.
The overall cost of running JPMorgan was top of mind in the investor community this week. On Tuesday, the stock fell by nearly 5% after a top JPMorgan executive said at an industry conference that firmwide expenses would rise next year.
This story is developing. Please check back for updates.
Write to Rebecca Ungarino at rebecca.ungarino@barrons.com
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December 10, 2025 13:53 ET (18:53 GMT)
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