A few DRS customers have reported receiving unrequested text, voice or email messages with a verification code from Voya Financial, our record keeper for DCP and plan 3 investment accounts. Voya is researching the issue. We don’t have any indication that any accounts were accessed or compromised. If you get a text or email from…
Category Archives: News
The 2024 Annual Report is here
The 2024 Annual Comprehensive Financial Report (ACFR) reflects our ongoing commitment to accurate and transparent financial reporting of the retirement systems. It contains the following detailed information: Financial information for employers The 2024 Participating Employer Financial Information (PEFI) is now available. It includes allocation schedules and information to assist employers participating in the state of Washington’s multiple-employer, cost-sharing…
Keep your retirement accounts secure
Each October National Cybersecurity Awareness Month focuses on raising awareness of the importance of cybersecurity. This month is a great time to do a security check on your retirement accounts. Here are three tips that will help ensure that your accounts are safe: And here’s another great tip that’s easy to do right now while…
This October, create your retirement blueprint
When it comes to budgeting, you may have heard the term “Save more and spend less.” But that’s easier said than done. We know that retirement planning can be a lot. However, if you set up a plan now, it’ll feel easy-peasy. When you think about it, planning for retirement is a lot like using…
Is that email or call really from DRS?
We often hear about email and phone schemes targeting public employees. Scammers disguise themselves as the Department of Retirement Systems representatives and request personally identifiable information from unsuspecting recipients. These days, we’re all on high alert for this type of fraudulent behavior. But the scams change because more and more people are savvy to them.…
Banking on financial advisors and fiduciaries
Navigating the world of investments and finances can be daunting. Especially when it comes to preparing for retirement. You want the assurance and confidence that comes from knowing you are making the right decisions before you retire. It might seem like a crystal ball is the only thing that will help you see into your…
Managing health care in retirement
As life expectancy increases, the possibility that some Americans may face a physical or mental decline at some point in their lives is very real. Care can require considerable resources – physical, mental and financial. Now is the best time to create a plan that considers how you and your family will handle the potential…
DRS annuity options
What’s an annuity? An annuity is a guaranteed income plan you purchase with pre-tax money such as DCP. The money you receive from your annuity is in addition to the money that you receive from your pension. With annuities, you take money out of market risk and use it to give yourself a monthly lifetime…
Hey millennials, plan for your future with 3 easy steps
Millennials are defined by Pew Research as being born between 1981 and 1996 and are now ages 28 to 43. That means most are somewhere in the middle of their career. If that sounds like you, here are some things you can do now to ensure a successful retirement. 1. Understand your retirement plan benefits…
Employers make pension contributions too
As a Plan 2 member of a Washington state retirement plan, you contribute a certain percentage amount from your paycheck toward your pension. That percentage amount is called a member contribution rate and is set each biennium. If you’re a Plan 3 member, you contribute a certain percentage amount to your investment account. But did…
