Just to be clear that's not my pic, I stole it from Hinz's thread here:
http://forums.sohc4.net/index.php?topic=47855.msg611018#msg611018Lots of guys here have made their own bearing retainer tool.
You DO have to drill into the threads of the retainer, that's the whole point.
What's going on here is, at the factory after they had screwed in the retainer, using a special tool that engages the four holes, they then took a centerpunch, placed the tip right at the line where the threads of the retainer meet the hub, and then hammered a divot into the metal. They did this four times, resulting in four "stake marks". Doing this deformed the metal thereby locking the retainer in place so that it could not unscrew accidently. That also means it can't be unscrewed on purpose, unfortunately.
Drilling out the dents left by the punch removes the deformed metal allowing you to unscrew the retainer. You'll need a drill bit about twice the diameter of the dents, around 1/8 inch bit is about right. You need to drill through the first one or two threads only, the deformation doesn't go very deep, but better to be a little deep than a little shallow.
New retainers can still be had btw if you want to put in a new one when you're done. You should either stake the retainer into place or use loctite when reassembling.
mystic_1