Petco 401(k) Safe Harbor Plan
The Petco 401(k) Plan helps you build financial security for your future.
Fidelity
- (800) 835-5091
- www.netbenefits.com
Plan #: 49089
As a Petco partner you are eligible to contribute to the Plan on the first of the month following 30 days from your date of hire. You must be at least 21 years of age to participate. Upon eligibility, Fidelity Investments will send you an enrollment email to your work email on file. If you do not have a work email, an enrollment postcard will be mailed to your home address listed in Workday.
Watch this webinar to get started
Your contributions Direct Link
You may contribute a portion of your pay (up to the 2025 IRS annual limit of $23,500) to your 401(k) account. If you are 50 years of age or older in 2025, you are eligible to make an additional $7,500 (total of $31,000) in "catch-up" contributions. Or, if you will turn age 60-63 during 2025, you may contribute up to an additional $11,250 (total of $34,750).
Your contributions are not taxed until they are taken out of the plan, which means you have less current taxable income. You may change, stop or start your contributions at any time by contacting Fidelity. You are always 100% vested in your contributions.
You may roll over your account balance from a prior qualified retirement plan to this Plan. Contact Fidelity at 800-835-5091 for information.
Petco contributions Direct Link
You will begin receiving Safe Harbor Matching Contributions on the first day of the calendar month following the later of your completion of one year of service with Petco.
Petco matches 100% of the first 3% that you contribute, plus 50% of the next 2%. This means, if you contribute at least 5%, you will maximize the Petco match at 4%!
Vesting Direct Link
“Vesting” relates to your right to receive contributions made to the Plan on your behalf. You will be 100% vested at all times in your Elective Deferrals and in the Safe Harbor Matching Contribution that Petco makes on your behalf.
Matching contributions for Plan Years before January 1, 2025, will continue to vest based on a 3-year graded schedule.
| Years of Service | Percent Vested |
|---|---|
| 1 | 33% |
| 2 | 66% |
| 3 | 100% |
Investments Direct Link
You can choose from a variety of investment funds to build your portfolio or select a Fidelity Lifecycle Fund which is a blend of stocks, bonds, and short-term investments in a single fund based on the year you plan to retire. You may change your investments at any time on the www.netbenefits.com website or by calling Fidelity at 800-835-5091.
Plan distributions Direct Link
When you leave Petco, you may roll over your vested account balance to an IRA or another employer’s qualified plan, or receive your distribution in cash, subject to applicable taxes.
Roth Retirement Plan Direct Link
Roth contributions allow you to contribute after-tax dollars to the plan now and then make tax-free withdrawals when you retire.
How do Roth contributions compare with traditional, pretax contributions?
Just as with traditional, pretax contributions:
- You elect how much of your salary you wish to contribute
- Your contributions cannot exceed IRS annual limits
- Your contribution is based on your eligible compensation
Unlike transitional, pretax contributes, Roth contributions:
- Allow you to withdraw your money tax free during retirement
- Require you to make after-tax contributions now.
For more information on this contribution option:
Fidelity Personalized Planning and Advice Direct Link
Fidelity’s team of professionals works with you to propose an investment strategy that takes into account your unique needs and financial situation. We’ll consider your comfort level with risk and provide ongoing asset allocation management, ensuring you stay invested consistently with your retirement goals. Log in to NetBenefits to get started.
Financial Wellness Direct Link
We understand partners have a wide range of needs and that financial wellness is unique to every individual. Fidelity's Financial Wellness Hub is a great place for Petco partners to get help and information. They offer live workshops, OnDemand webinars, as well as many other financial articles/resources.
You do not have to be currently participating in our 401(k) to attend, but may need to log in to have the best user experience.
401(k) Plan Default Investment and Fees & Expenses Notice
To view the Default Investment and Fees & Expenses Notice, click here. Click on “Required Disclosure Information” after logging in.
Qualified Domestic Relations Order (QDRO) Information
To view the QDRO information, click here.
Manage your Account Online or by Phone
Once you have signed up for the 401(k), create an account on www.netbenefits.com.
Log in to your Fidelity 401k account at any time to make changes to your contributions or investments. You can also call Fidelity at 800-835-5091.
The plan number is 49089.