Public records request about retirees

The Department of Retirement Systems has received a public records request from Timothy (TJ) Martinell for the following information about members receiving a pension. • Full Name • Date of hire • Date of retirement • Agency hire • Monthly Pension Amount for years 2020-2025 Per Washington’s Public Records Act, these records are not exempt…

Savvy school district savers

You’ve most likely heard us say the Deferred Compensation Program (DCP) is a terrific way to save for retirement. And that in addition to your pension, DCP can help you reach your retirement goals. We’re not bragging, but here are a couple of school district (SD) employees who demonstrate what they did or are doing…

Considering a 403(b) or 457(b) plan?

While public employees have lots of ways to save for retirement, two of the most popular are IRC Section 457(b) and Section 403(b) plans. Both provide for pre-tax contributions taxed as income when withdrawn, but there are some differences to consider when choosing the best option for you. Many Washington public employees have access to a pre-tax 457(b) plan…

Deductions in retirement

When people get close to retirement, they often wonder how much money they’ll get to take home. This means they want to understand the difference between their gross pay (total earnings before deductions) and their net pay (the amount that goes into their bank account). While you’re working, your paycheck has many deductions, like Social…

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