Retirees, inactive members, beneficiaries and legal-order payees: You can update your address from your online retirement account. Just select “Address” from the welcome screen. If you need to update your name, fill out and send in a printed form as well as a copy of documentation showing the change.
Active members: Update your name and/or address through your employer. That new information will soon appear in your online retirement account.
A new feature is available in the Deferred Compensation Program – now you can make DCP contributions using either a whole percentage or dollar amount. What is great about percentages? Your contributions are based on a percentage of your salary, so when you get a raise or position advancement, your DCP contributions automatically grow right along with you. Change your contributions quickly and easily online when you log in through drs.wa.gov/login. You can also call 888-327-5596.
What is DCP?
If you’re not enrolled in the state’s Deferred Compensation Program, now’s the time to join. DCP is a supplemental savings program that offers you the opportunity to invest extra funds for retirement. Unlike most conventional savings accounts, the money you contribute to DCP is deducted from your paycheck before taxes are taken out, so you lower the amount you pay in current federal income taxes. Plus the money you contribute and the investment earnings grow tax-deferred until they are distributed.
Administered by the state Department of Retirement Systems, DCP is available to all state government employees. It is also offered by many local governments and districts. To get started or find out more about the program, visit drs.wa.gov/dcp.