Retirement

COVID-19 Support

We understand you may have concerns about your retirement account, given the volatile market at the moment. If you’re uncertain about your finances, contact Schwab to get a free, personalized consultation with an advisor. Talk to an expert about your concerns and how to adjust your investments and manage your savings. Contact Schwab at 1-800-724-7526 or go to workplace.schwab.com. Once logged in, go to Advice > Retirement Plan Advice > Schedule an Appointment with an Advice Consultant.

Stay up to date on important Plan information and announcements. Sign up to receive Plan communication electronically by going to the Schwab website, then My Profile > Communication Preferences > Edit Delivery Options.

Plan Information

What’s great about REI’s Retirement Plan is that you can contribute your own money right away through pre-tax payroll deductions and pay less in taxes. REI also provides one of the most generous employer contributions in our industry.

Enroll or Access Your Account

Enroll or make contribution and investment fund changes to your retirement account through workplace.schwab.com or toll free at 1-800-724-7526.

You may start contributing 30 days after your date of hire. You will be automatically enrolled after 90 days from your date of hire or rehire if you do not make an active election. REI will automatically deduct 3% of your eligible compensation every pay period and will increase the amount by 1% each year (up to 15%). You may opt out or change your contribution rate at any time through Schwab. Example: If you were hired on November 1, 2019, and you don’t make a deferral election, you will be automatically enrolled in the plan with an initial pre-tax deduction of 3% from your paycheck beginning December 2, 2019.

You can contribute up to 75% of your eligible compensation, subject to certain annual dollar limits. You can increase, decrease or stop payroll contributions effective as of any future pay period.

You will receive an enrollment packet from Schwab. Then, you may enroll through workplace.schwab.com or by contacting Schwab directly at 1-800-724-7526.

You will be automatically enrolled after 90 days from your date of hire or rehire if you do not make an active election. REI will automatically deduct 3% of your eligible compensation every pay period and will increase the amount by 1% each year (up to 15%). You may opt out or change your contribution rate at any time through Schwab.

Example: Using the same date of hire above, you will be automatically enrolled in the plan with an initial pre-tax deduction of 3% from your paycheck beginning December 2, 2019, IF you don’t make a contribution election on your own.

You are eligible to receive the annual REI profit sharing contribution in any calendar year following your original year of hire if you also meet the following requirements:

  • You complete at least 1,000 hours of service during the calendar year, and
  • You are employed on December 31 of that year.

You are not required to contribute from your own pay, so when you meet the annual eligibility requirements, your retirement fund grows—thanks to the guaranteed annual company contribution of 5% of your eligible base compensation. Your profit sharing contribution is deposited into your retirement account in March of the following year.

Example: If your original date of hire is November 1, 2019, you are eligible to receive REI contributions on October 31, 2020. To receive the contribution for the 2020 plan year, you must also work at least 1,000 hours during 2020 and be an active employee on December 31, 2020. If you meet all the requirements, your profit sharing contribution will be deposited into your account in March 2021.

Vesting refers to a portion of your account that you own when you leave REI. Depending on how long you worked for REI, you may be partially or fully vested in your Plan accounts. Years of service are counted from your original date of hire.

You are always 100% vested in your contributions from your eligible compensation.

For the profit sharing or REI contributions contributed beginning 2022, you gradually become vested based on your years of service.

 
YEARS OF SERVICE FOR VESTING PERCENT VESTED IN REI CONTRIBUTIONS
Less than 1 0%
1 33%
2 66%
3 100%

For the profit sharing or REI contributions contributed to your account before 2022, you gradually become vested based on a 5-year schedule.

 
YEARS OF SERVICE FOR VESTING PERCENT VESTED IN REI CONTRIBUTIONS
Less than 1 0%
1 20%
2 40%
3 60%
4 80%
5 or more 100%

Employees who meet any of the following become immediately 100% vested: reach age 60, become fully disabled, or die while employed at REI.

Yes. The Plan includes a point-in-time advice service to help you with savings and investment planning. The service is provided by Morningstar, an independent registered investment advisor. This service is free to REI employees, but you may also sign up for managed account service for a fee.

Schedule a consultation online or call Participant Services at 1-800-724-7526.

Managing Your Investments

While some people enjoy a hands-on approach (actively selecting and managing their own investments), others don’t have the time or inclination to actively manage their accounts. REI offers solutions for both these approaches.

Target date retirement funds

What’s Offered

These funds are designed and professionally managed based on your expected retirement date.

What It Means For You

If you don’t have the time or desire to manage your retirement plan savings options, these funds may be right for you. This is also the default fund if you don’t choose your own.

Plan-selected funds

What’s Offered

A pre-screened group of funds to choose from if you like making your own investment decisions.

What It Means For You

You can select which funds you’d like to invest in and determine the amount of money you want to allocate to each fund.

Retirement plan advice through Morningstar®

What’s Offered

Personalized investment recommendations (through Morningstar) for which investments to select from your Plan’s fund line-up, and how much to invest in each.

What It Means For You

You can be involved in managing your retirement plan, but can also benefit from retirement advice.

Schwab Personal Choice Retirement Account® (PCRA)

What’s Offered

A self-directed brokerage account designed for sophisticated investors who have a good understanding of the stock market and a general knowledge of investment principles.

What It Means For You

You can choose from a broader range of investment choices.

Roth 401(k)

What’s Offered

The option to make Roth 401(k) contributions on an after-tax basis.

What It Means For You

Learn more about Roth 401(k) contributions. Your Roth 401(k) contributions will be withheld on an after-tax basis and contributions and earnings will grow tax-free.

We encourage you to take time to consider your retirement goals and make sure your financial planning strategy is set up to meet those goals.

Schwab Is Here to Help

How Much Should You Save?

Learn what works for you and your financial goals by visiting the Financial Education Center. You can explore different saving and spending scenarios with the Retirement Savings Calculator.

Investment Advice

Get real-time advice to help you with savings and investment planning. Point-in-time advice—provided by Morningstar®—is free to REI employees. For a monthly fee, you may sign up for managed account services (also through Morningstar®).

To schedule a consultation, log in to workplace.schwab.com or call Participant Services at 1-800-724-7526.

Choosing Your Beneficiary

It’s unpleasant to think about, but it’s important to select one or more beneficiaries to receive money from your Plan account if you die. It’s also a good idea to check your beneficiary on record when you go through life events such as marriage, divorce or having a child. The process will save your loved ones from any delays in receiving their benefits.

Choose your beneficiary online today.

Want More Information?

Read more about REI’s retirement program in the Frequently Asked Questions.

Check out the Summary Plan Description for an overview of the Plan features and choices, or contact the REI Employee Service Center at hrhr@rei.com or 1-800-999-4734.