Prior empirical and theoretical research suggests that engaged employees are more productive and, in turn, those companies are more successful. The present study empirically examines the relationship between psychological contract fulfillment and employee engagement. It also examines whether Millennial generational affiliation moderates this relationship. The study uses archived secondary data of a major U.S. retail chain where the employees rated themselves on various items including psychological contract fulfillment items and employee engagement items. Two hypotheses were developed and tested while controlling for employee tenure, supervisory status and gender. Hierarchical regression was used to determine the extent of the relationship between psychological contract fulfillment in predicting employee engagement and to assess whether Millennial generational affiliation moderated the relationship. The results suggest that psychological contract fulfillment does relate to employee engagement and can predict 49.9% (p<.001) of the variance in employee engagement. Results also suggest that Millennial generational affiliation, when compared with other generational cohorts, does not in a statistically significant amount, moderate the relationship between psychological contract fulfillment and employee engagement. Both theoretical and practical implications are discussed.