To help you save for your retirement, Costco offers the Costco 401(k) Retirement Plan. A 401(k) Plan allows you to save for retirement using pre-tax contributions. The plan also includes matching and discretionary contributions from Costco.

Options for Accessing Your Account Balance
There may be times when you might need access to the money in your account before you retire. The plan offers two ways to access your savings: loans and withdrawals.

You can take either a general purpose loan or a loan for the purchase of a primary residence. You may borrow only from the vested portion of your before-tax and matching account balance (Company Contributions are excluded from the available portion of your account balance). Also, you may have only one outstanding loan at a time from your account.

Click here to access the online Loan Center through T. Rowe Price. The Loan Center includes a video about the pros and cons of taking a loan and provides answers to many questions asked when taking a 401(k) loan. 

If you are still an active employee: While you are employed, you can make limited withdrawals from your account if you:

  • Are age 59 ½ or older, or
  • Experience a severe financial hardship.

Hardship withdrawals and in-service withdrawals are available as permitted by IRS for limited circumstances and company guidelines. However, if you are an active Costco employee, you must take a loan from your account before requesting a hardship withdrawal. If your application for a loan is declined, you may apply for a hardship withdrawal.

In the event of your death: Your named beneficiary may withdraw your vested account balance.

For More Information about Loans; Age 59 ½ In-Service or Hardship Withdrawals:
Please log on to the myRetirementPlan Web site at www.rps.troweprice.com and then click on the Plan Info tab. You may also call a Customer Service Representative at 1-800-922-9945. Representatives are available during weekdays between 7 a.m. and 10 p.m. eastern time. Refer to the 401(k) Summary Plan Description.