Starbucks 401(k)

Starbucks offers its partners a robust 401(k) plan to help them secure their financial future. Whether you are a new partner or you have been with Starbucks for a while, you should understand how the company’s 401(k) plan works and how to take full advantage of the employer benefits.

New Starbucks employees can enroll in the company's 401(k) plan once they attain 18 years and complete 90 days of service. Once enrolled, they can contribute anywhere from 1% to 75% of the eligible compensation. Also, Starbucks offers a 100% match on the first 5% of an employee’s eligible pay, regardless of whether contributions are pre-tax, Roth, or a mix of both.

Starbucks 401k provider

The Starbucks Future Roast 401(k) Savings Plan is with Fidelity Investments, one of the largest plan providers in the United States. As of December 2024, Fidelity administers $15.1 trillion in assets and serves 44.2 million individual customers across various financial services.

With the NetBenefits platform and mobile app, Fidelity allows Starbucks employees to manage their benefits on the go. They can check their balance, update their investment options, and access robust online tools.

Starbucks 401k login

If you have a 401(k) account with Starbucks, you can access your 401(k) benefits through Fidelity’s NetBenefits 401(k) portal. You must enter your username and password to log in to your account.

Once logged in, you can manage your account as needed. If you recently became eligible to participate in the plan, you must set up a 401(k) account on NetBenefits to access your 401(k) account. New users will be required to enter their Social Security number, birth date, and ZIP Code.

Starbucks 401k match

Eligible Starbucks employees who contribute to the company's 401(k) plan will be eligible to receive matching contributions. The company offers a 100% match of the first 5% of an employee's eligible compensation each pay period.

However, for each pay period in which you do not make 401(k) pre-tax or Roth contributions, you won’t be eligible to receive a match.  To take full advantage of the company match, you should contribute at least 5% of your eligible pay every pay period.

Starbucks 401k customer service

If you need help with your 401(k) plan, you can contact Fidelity customer service at 866-697-1048 or the Spanish line at 800-587-5282 anytime from Monday through Friday, 5.30 am to 9.00 pm Pacific time. Whether you have trouble logging in or you need help with the investment options, the customer service is only a call away.

Starbucks 401k loan

Starbucks allows its partners to borrow against their 401(k) funds. Generally, participants can borrow up to 50% of their vested 401(k) balance, with a maximum loan of $50,000, reduced by the highest outstanding balance in the previous 12 months. The plan allows two types of loans, i.e., a general purpose loan with a term of up to 5 years, and a primary residence loan with a term of up to 15 years.

You can only have one loan at a time, and the minimum amount you can borrow is $500. Loan repayments are made through automatic payroll deductions.

Starbucks 401k after termination

If you leave Starbucks, your 401(k) money remains yours, and you must decide what to do with it. You can leave your 401(k) money in the plan, roll it over to another employer’s 401(k) plan or IRA, or cash out. If you leave Starbucks and your vested 401(k) balance is $1000 or less, you will receive a lump-sum payment of your balance.

However, if your balance is more than $1,000, you can request a withdrawal or leave it in the plan as long as it remains more than $1,000. Once you reach age 73, you will be required to start receiving annual RMD distributions from your account.

Keep in mind that cashing out your 401(k) plan will result in income taxes and potential penalties if you are under age 59 ½. 

Starbucks 401k withdrawal

If you are age 59 ½ or older, and still working at Starbucks, you can take one in-service withdrawal from your pre-tax 401(k) plan without owing early withdrawal penalties; you will still owe income taxes on the distribution. 

If you have a Roth 401(k) account, you can take tax-free distributions if you have had the account for at least five years. To initiate a withdrawal, log in to your 401(k) account on NetBenefits or call Fidelity customer service for assistance.

Starbucks 401k early withdrawal

If you are facing an immediate and heavy financial need and you are younger than 59½, you may be eligible for a hardship withdrawal. You must be actively employed and not yet eligible for the age 59 ½ withdrawal. Any withdrawals taken as part of a hardship withdrawal are permanently removed from your 401(k). Unlike a 401(k) loan, you won’t be required to pay back the hardship withdrawal.

Some of the situations that qualify for hardship withdrawals include unreimbursed medical expenses, purchase of a principal residence, college tuition, expenses to prevent eviction, and funeral expenses.

Starbucks 401k rollover form

If you want to roll over your Starbucks 401(k) funds into another retirement plan, you must fill out the rollover form to initiate the rollover. Log in to your 401(k) account on Fidelity’s NetBenefits, go to the rollover tab, and find the required rollover forms. You should fill out the form and include any supporting documents. Generally, it takes a few days to weeks to complete the rollover process.

Starbucks 401k account number

You can find your Starbucks 401(k) account number by logging into your 401(k) account in Fidelity's NetBenefits account. You can also find the account number on your 401(k) statement or by calling customer service for assistance.

Starbucks 401k phone number

If you have questions about your Starbucks 401(k) plan, you can contact Fidelity customer service at 866-697-1048. Customer service is available Monday through Friday, 5.30 am to 9.00 pm Pacific Time. If you need help before Fidelity's customer service, you can contact the plan administrator at 206-318-4288.

Starbucks 401k administrator

The plan administrator for the Starbucks 401(k) plan is Lisa Coutts. You can reach the plan administrator via phone at 206-318-4288 or by writing to the following address: 2401 Utah Avenue South, Mail Stop S-HR3, Seattle, WA 98134.

Starbucks 401k eligibility

To enroll in the Starbucks 401(k) plan, new hires must be at least 18 years old and have completed 90 days of service. Once you become eligible to participate in the plan, you will receive a mailed welcome packet with plan details and enrollment instructions. Once enrolled, you can contribute anywhere from 1% to 75% of your eligible pay each pay period, subject to the annual IRS limit.

Starbucks 401k vesting

The employee contributions to the Starbucks 401(k) plan are 100% vested immediately. You are also fully vested in the employer matching contributions, profit-sharing, and rollover funds, and you will own the funds as soon as they are contributed to your 401(k) account.

Starbucks 401k app

You can download the Fidelity NetBenefits mobile app from the App Store or Google Play to help you manage your Starbucks 401(k) plan. You can use the app to view your account balance, adjust contributions, update your investment options, and monitor your investment performance. You can also get important plan notifications via the app.

Starbucks 401k summary plan description

The Starbucks Summary Plan Description outlines the rules and guidelines of the Starbucks Future Roast 401(k) Savings Plan. It explains the plan eligibility requirements, contributions, withdrawals, investment options, matching details, and much more. Plan participants can request a copy of the summary plan description by logging into their 401(k) account on the Fidelity website or calling Fidelity customer service.