ROSS 401(k)

If you are an employee of Ross Stores Inc., you may be eligible to participate in the company’s 401(k) plan. The Ross Stores Inc. 401(k) savings plan covers over 98,000 employees across its US stores. With matching contributions and multiple investment options, the retirement plan is designed to help employees save for their golden years.

New Ross Stores employees can participate in the company’s 401(k) plan immediately upon hire. They can contribute up to 75% of their base salary and up to 100% of their annual cash bonus, subject to the IRS contribution limit. After completing 12 months of service, eligible employees become eligible to receive a 100% match on the first 3% of their eligible pay and an additional 50% match for the next 2% of their contributions.

ROSS 401k provider

The Ross Stores 401(k) plan is with Empower, the second-largest retirement plan provider in the United States. Empower administers $1.7 trillion in assets and manages over 88,000 retirement plans. Plan participants get access to a user-friendly online platform to manage their retirement funds and a customer service team to help with any issues they might have.

ROSS 401k login

To access your online Ross 401(k) account, go to the Empower Retirement 401(k) login page and enter your username and password. If you are a new employee, you must register as a first-time user by providing your Social Security Number and employment information.

You can also use the account recovery feature to reset your username or password. Once you access your Ross 401(k) account, you can view your balance, adjust contributions, and request withdrawals.

ROSS 401k match

Ross Stores offers a generous match to encourage employees to save for retirement. Eligible participants receive a 100% match on the first 3% of their eligible pay and an additional 50% match on the next 2% of contributions. So, if you contribute at least 5% of your eligible pay, you will receive a 4% employer match. However, to qualify for the company match, you must have completed 12 months of service.

Ross 401k customer service

If you need help with your Ross 401(k) plan, contact Empower retirement customer service at 855-756-4738 from Monday through Friday 9 AM to 8 PM EST, and Saturday 9 AM to 5.30 PM EST. 

Ross 401k loan

The Ross Stores 401(k) plan allows plan participants to take 401(k) loans against their retirement savings. You can borrow the lesser of 50% of your vested balance, up to a maximum of $50,000.

The plan loan has a repayment period of up to 5 years or longer if you are borrowing to buy your principal residence. Loan repayments are made through payroll deductions, and the payments go back to the borrower's 401(k) account. If you default on the loan, the unpaid loan will be considered a distribution, and you will owe income taxes and potential penalties.

Ross 401k after termination

If you leave Ross Stores, you will have several options with your 401(k) plan. You can leave the retirement funds in the plan if your balance meets the minimum balance requirements. You can also roll over your 401(k) funds to another retirement plan such as an IRA or new employer’s 401(k) plan to maintain the tax-deferred status of the retirement funds.

If you need money for a large purchase, you can cash out the 401(k), but be aware of the income taxes and additional penalties if you are under 59 ½.

Ross 401k withdrawal

If you want to withdraw funds from your Ross Stores 401(k) account, there are several steps you should follow. First, determine the amount you want to withdraw from your 401(k) and contact Empower Retirement to request the withdrawal.

You may be required to fill out paperwork or initiate the withdrawal via your 401(k) account. You will also be required to choose the preferred distribution method, either paper check or ACH transfer. The withdrawal takes a few days to be processed, and you can expect to receive the distribution within a week.

Ross 401k early withdrawal

You can take an early withdrawal before age 59 ½ if you are facing an immediate and heavy financial need. Early withdrawals are subject to income taxes and potential early withdrawal penalties, except if you qualify for an exemption. Some of the situations that qualify for an exemption include permanent disability, certain medical expenses, higher education costs, and a first-time home purchase.

Before considering an early 401(k) withdrawal, you should explore other options like emergency savings and 401(k) loans to preserve your retirement money.

Ross 401k rollover form

If you want to roll over your Ross 401(k) funds to another retirement plan, you will need to complete a rollover form. You can request the rollover form by logging into your 401(k) account on the Empower website or contacting customer service for assistance. You must complete the rollover form and provide information about the new retirement plan. 

Ross 401k account number

You will need your Ross 401(k) account number to initiate any transactions related to your retirement account. You can find your 401(k) account number by logging into your 401(k) account on the Empower website. You can also find your 401(k) account number by checking your old 401(k) account statements.

Ross 401k phone number

For any inquiries related to your Ross 401(k) account, you should contact Empower Retirement at 855-756-4738 anytime from Monday through Friday, 9 AM to 8 PM EST, and Saturday, 9 AM to 5:30 PM EST.

Ross 401k administrator

The plan administrator for the Ross 401(k) plan is Brian Frost. You can reach the plan administrator via phone at 925-965-4400 or by writing to the following address: 5130 Hacienda Drive, Dublin, CA 94568.

Ross 401k eligibility

Full-time Ross Stores associates are eligible to participate in the Ross 401(k) plan immediately after hire and can defer up to 75% of their base salary and 100% of the annual cash bonus to the retirement plan, up to the annual IRS contribution limit. However, part-time employees are not eligible to enroll in the 401(k) plan.

Ross 401k vesting

Employee contributions made to the Ross Stores 401(k) plan are 100% vested immediately. However, employer-matching contributions follow a vesting schedule, and employees get to own the employer match over time.

Ross 401k app

Empower provides a user-friendly mobile app to help participants manage their retirement savings. The mobile app is available on both Google Play Store and Apple App Store. You can use the app to check your balance, adjust contributions, monitor investment performance, and access withdrawals.

Ross 401k summary plan description

The summary plan description provides information about the Ross Stores 401(k) benefits, plan rules, eligibility requirements, withdrawal options, loan options, etc. Once you enroll in the plan, you will receive a copy of the summary plan description. You can also request a copy of the summary plan description through your 401(k) account or Ross Store's benefits department.