Sometimes saving for retirement can feel like trying to cook a recipe without clear instructions. You feel like the recipe is smudged and you’re not sure about the ingredients. You might be thinking: “Am I saving enough? What’s the right number for me? Should I save with pretax or Roth? Stocks or bonds?” But just like cooking, a little guidance makes the process easier. Having the right “recipe” for retirement can turn that stress into confidence. Take a moment to think about your retirement dish: What kind of lifestyle do you want to enjoy when you retire? Do you want to retire early, or do you want to work past age 65? Will you flavor your future with Roth, pretax, or a mix of both? This October, we’re celebrating National Retirement Security Month and hosting four webinars to help you cook with confidence and achieve your retirement goals. Each session is 30 minutes with a presentation followed by time for your questions. Sign up to get your spot. Special sessions for October Tuesday, Oct. 7 – Get your financial ingredients in order Just like cooking, retirement success starts with prep. Find out how to secure your online account, set up beneficiaries and discover some ingredients you might be missing. Tuesday, Oct. 14 – The secret sauce of pensions Defined benefit pensions in the U.S. are rare to have nowadays. Find out what it means to have a pension and how you can increase it. Tuesday, Oct. 21 – A well-seasoned retirement A retirement recipe has lots of ingredients: Social Security, pension, savings and investments. Explore whether boosting your savings now could help reduce the risk of running out of money later. Tuesday, Oct. 28 – Turn up the heat on your savings: choosing how to add to your DCP Just like adding spices to a recipe, small increases to your DCP contributions can have a big impact. Discover options for saving more, and explore the difference between pretax and Roth contributions. Sign up Bonus! Home recipes from DRS team members: Pumpkin French toast casserole Submitted by Angelina, Retirement Specialist Print version Ingredients Two loaves of bread (we use Challah or Sweet Hawaiian rolls) 1 cup pumpkin puree 6-8 eggs 2-3 cups whole milk or heavy cream 1 can sweetened condensed milk Middle 2, 8oz packages cream cheese 1 cup powdered sugar Topping 1 tablespoon butter 1 cup pecans ½ cup brown sugar Directions Preheat oven to 350 degrees. Take cream cheese out of the fridge and set aside. Break bread up into cubes and use ½ of the cubes to cover the bottom of a 9×13” casserole dish. In the mixing bowl, whisk together eggs, whole milk, and pumpkin puree. Add bread cubes to the mixture. Pour ½ of the mixture over the bread cubes in the casserole dish. Leave other ½ of mixture in the mixing bowl. Heat 1 tablespoon butter in a small saucepan on medium heat. Add brown sugar and stir until melted/caramel-y in appearance. Turn off heat. Stir pecans into brown sugar/butter mixture. Remove pan from burner and set aside. Mix cream cheese and powdered sugar together with your mixer. Drop dollops of cream cheese onto the bread/egg mixture in the casserole dish and then spread with spatula. Pour the rest of the bread cubes/egg mixture on top of the cream cheese. Pour the sugared pecans on top of the bread cube/egg mixture. Bake for 40-45 minutes. Once out of the oven let cool for approximately 30 minutes. Red lentil dal Submitted by Seth, Retirement Readiness Director Print version Ingredients 1 cup red or yellow lentils 3 cups water 3 fresh tomatoes 2 teaspoons vegetable oil ½ cup finely chopped white or yellow onion 2 cloves garlic, finely chopped 2 teaspoons five spice, panch phoron: (½ teaspoon nigella seeds or black [or white] sesame seeds, ½ teaspoon cumin seeds, ½ teaspoon fennel seeds, ½ teaspoon mustard seeds, ½ teaspoon fenugreek seeds) 1 bay leaf 1 teaspoon turmeric 1 teaspoon kosher salt 1 lime, juiced (about 2 tablespoons) 8 sprigs cilantro, de-stemmed, chopped Cooked basmati rice (optional) Directions Rinse lentils with cold water. Add to medium saucepan with 3 cups water. Bring to boil. Reduce heat, cover and simmer 10 minutes or until lentils are soft. While lentils are cooking, bring a separate pot of water to boil. Score tomato peels with a sharp knife in the shape of an “X”. Add tomatoes to boiling water and blanch for one minute. Remove tomatoes to cool and peel them. Cut out and discard the stem ends. Chop or mash tomatoes and set aside. When lentils have cooked at least 5 minutes, prepare the onions and spices. In a medium saucepan, heat the oil over medium heat. Add chopped onions. Cook until translucent, about 3 minutes. Add chopped garlic and cook for 1 minute more, stirring continuously. Add five spice mix (panch phoron). Cook and stir another 2-3 minutes. Add bay leaf and turmeric. Stir. Add cooked lentils (with cooking water) to onions and spices. Add salt. Cook for 10 minutes. Add lime juice and tomatoes. Cook 3-5 minutes. Add salt to taste. Stir in cilantro and remove from heat. Garnish with more cilantro. Serve with basmati rice or naan bread. Giant chewy chocolate chip cookies Submitted by Claire, Forms and Records Analyst Print version Ingredients 2 cups all-purpose flour ½ teaspoon baking soda ½ teaspoon salt 1 cup packed brown sugar ¾ cup butter, melted ½ cup granulated sugar 1 large egg 1 egg yolk 1 tablespoon vanilla 2 cups chocolate chips Directions Preheat oven to 325 degrees (this is lower than a normal cookie temp). Line cookie sheets with parchment. Sift flour, baking soda and salt together in a bowl. Beat brown sugar, melted butter and granulated sugar with a mixer until smooth. Beat in egg, egg yolk, and vanilla until light and creamy (approx. 2 minutes). Add flour mixture and stir until dough is just combined. Add chocolate chips. Using a large cookie scoop, drop spoonfuls of dough 3” apart onto the prepared baking sheet. 6 spoonfuls of dough should fit comfortably on a standard sheet. Bake 15-17 minutes. Time may vary based on oven. This is longer than a standard cookie bake time. The oven temp and the dough size combine to make a chewy and soft cookie with crisp edges. Vegetable soup with smoked beef ribs Submitted by Chanel, Communications Consultant Print version Ingredients 1/3 cup olive oil ¼ teaspoon red pepper flakes (optional) 1 large onion 3 large cloves of garlic, minced 1½ cups celery 2 cups carrots, any color Several sprigs of rosemary and/or thyme (or 1 teaspoon each dried) 2-3 cups red potatoes, diced 1½ to 2 lbs. of smoked beef ribs on the bone, with meat separated and chopped into bite-sized pieces (you can also use leftover meat like steak, brisket, roast or even cooked ground beef) 2 cans diced tomatoes 6-8 cups beef broth Directions Dice onion and add to large pot with olive oil, garlic, herbs and red pepper flakes, if you choose. Sauté until translucent and add beef ribs (without meat) along with diced celery and carrot. When vegetables begin to soften, add diced potatoes and broth. Bring to a simmer and add tomatoes. Simmer for 20-30 minutes, until potatoes are cooked through. Add meat and adjust seasonings. This recipe is very flexible. You can add or subtract any other veggies and it’s still delicious! Financial resources to cook up your perfect retirement recipe DCP calculator Use the DCP calculator to see an estimate of how much you’ll have in retirement with your current contribution. If you ever wished that you could have a crystal ball to look into your financial future, look no further. If you increase your monthly contribution by $100 or 1%, it makes a big difference over time. DRS podcast Listen to the podcast: Fund Your Future with DRS. Now available on all listening platforms. Explore tools for financial planning and ideas for sparking conversations with friends and family. Tune in as DRS employees tackle the stigma around money and share their personal financial journeys. Benefit estimator tool Log in to your online account and select “Benefit Estimator” to get an idea of your monthly retirement income. By answering a few simple questions, this tool will allow you to see what your monthly income could look like. DCP retirement planner How much savings will you need to retire comfortably? Use this retirement planner tool and estimate how much you will need for retirement in five simple steps.

Retirement benefits for Washington’s retired public workers in a DRS plan are not affected by the federal governmental shutdown. DRS pays more than $8 billion each year to members, with about $9 of every $10 dollars remaining in Washington. This is critical not only to each retiree and their families but to our state’s economy.

It can take a lifetime to accrue the retirement benefits you have earned. Unfortunately, it can take only one fraudulent scheme for those benefits to be negatively impacted. Beyond what DRS can do as an organization, it’s a best practice for all of us to take steps to keep our own account information secure. At DRS, we continue to enhance the security of our systems to protect your accounts. This means you may notice some changes to the website as we roll out these enhancements. Please know that as we do, we closely monitor the impact these changes could have on your experience as we strive to balance ease of use with security.   For example, you can now use an authenticator app or a landline phone as a multi-factor authentication device when logging into the website. We have also made other changes within the site. Soon, we will no longer accept email as an authentication method. If you use email for multi-factor authentication, please log in and set yourself up with one of the other options: text message, authenticator app or phone call. If you run into any issues using the website or are unable to complete an action on our website, please take a note of any on-screen instructions and feel free to contact us. Here are a few tips to keep in mind: Use strong passwords and a password manager: Strong passwords are critical to protecting data. They should be long, random, and unique. You can also use passphrases, which are a combination of random words that are easier to remember. Pick at least four words and string them together. A passphrase with no special characters is stronger than a shorter password with special characters.Password managers are a powerful tool to help you create long, random, and unique passwords for each of your accounts. Plus, they make storing passwords and user IDs easy. Turn on multi-factor authentication (MFA): Enable multi-factor authentication on all your online accounts that offer it, especially email, social media, and financial accounts. If you are given the option, use authentication apps or hardware tokens, which are more secure than MFA phones.  Update software: Ensure your software is up-to-date. This is the best way to make sure you have the latest security patches and updates on your devices. Install updates as soon as they become available. When buying Internet-connected technologies, choose devices that auto-update and that are made by brands from trusted countries. Trusted help. Technology continues to advance at a rapid pace. Many companies and organizations (like DRS) require their employees to take online cyber security trainings. Ask relatives or friends for tips on what they're learning. Protect your email account. Email is a holy grail for attackers because with access to your email, the attackers can instantly learn about you. Avoid using email services that don't have modern authentication like MFA and strong security practices. Consider establishing a separate email address only used for your financial accounts (banks, credit cards, credit agencies). Consider using a paid email service that provides additional protection against bad actors. This is a small investment that keeps you better protected. Freeze your credit. Set up an account for each of the three credit agencies (Equifax, Experian, and Transunion) and set up a credit freeze. You can temporarily lift the credit freeze when applying for a new credit card, bank account or loan. Configure text notifications. Getting notifications from your bank and credit cards when transfers occur or charges are made is helpful in identifying fraud. When following up with your bank, always use their phone number as listed on their website, not what's in an email or text message sent to you.  See the complete DRS Account Security Checklist. At DRS, it’s our goal to ensure that members receive the benefits they’ve earned. We take many steps to ensure your account is protected. You can find out more about retirement account security here.

As a public employee, you may be looking at your financial picture and seeing a mix of different retirement accounts: a 401(k) from a past job, maybe an IRA, and probably a Deferred Compensation Program (DCP) account. Each of these accounts has served a purpose over the years, but managing them all can feel like juggling too many balls at once. That’s where consolidation comes in. Consolidating your retirement accounts means rolling multiple accounts into one. For many people, this step can simplify their finances and reduce headaches both now and down the road. But is it the right move for you? Let’s explore some of the key reasons why consolidation might make sense and what to consider before making changes. Advantages of consolidation Streamlined investment strategy With all your retirement savings in one place, it becomes easier to manage your overall investment strategy. You can make sure your portfolio is properly diversified and aligned with your retirement timeline and risk tolerance, without needing to coordinate between multiple financial institutions. Potential for lower fees Some accounts charge maintenance or management fees. Consolidating into a low-fee account (like many public employee DCP plans) could help reduce your overall costs. Over time, those savings can add up. Reduced likelihood of errors for multiple Required Minimum Distributions (RMDs) Once you reach age 73 (or 75 if you were born in 1960 or later), the IRS requires you to start taking minimum distributions from certain retirement accounts, such as traditional 401(k)s, 457s, and IRAs. If you have multiple accounts, you may be required to take separate RMDs from each and that can mean more math, more deadlines, and a greater risk of missing something. By consolidating your accounts, you may be able to take one RMD instead of several. This reduces the likelihood of errors and makes tax planning in retirement much more manageable. What to consider before consolidating While consolidation can simplify your financial life, there are a few things to consider first: Review fees and investment options: Not all accounts are created equal. Compare the investment choices and costs of your existing accounts with the one you’re thinking of consolidating into. Check for penalties: Some accounts may charge fees for transferring out, or have early withdrawal penalties. Understand tax implications: Make sure you’re rolling funds between similar account types (like traditional to traditional) to avoid unintended tax consequences. For more information about DRS-specific rollovers, visit the rollover information page. The Deferred Compensation Program (DCP) is the only DRS administered plan that accepts rollovers from other plans. More about DCP rollovers. It’s also a good idea to talk to a financial advisor or retirement counselor familiar with public employee plans. They can help you evaluate whether consolidation aligns with your retirement goals. The bottom line Simplicity can be your friend. Consolidating your retirement accounts may help reduce stress, cut down on paperwork, and make it easier to manage your finances. For many public employees, rolling other accounts into their DCP account with strong investment options and low fees is a smart move. Just be sure to weigh your choices carefully. Talk to a financial advisor if you need some advice.