This week, the Department of Retirement Systems (DRS) is mailing an informational flyer to all Plan 3 members regarding the transfer of Plan 3 record keeping services from ICMA-RC to Empower Retirement, effective March 4, 2016.
The flyer reminds members about the upcoming record keeper changes and how their account access will be limited during what is known as a “blackout” period. The blackout period will be from 1 pm February 22 through 8 am March 4 (Pacific Time). DRS will send a final blackout reminder to employers and members in February.
The record keeper change is automatic, so Plan 3 members don’t need to do anything. As always, we encourage members to register for online account access to periodically review their account information.
No employer reporting changes are required for the record keeper transfer.
DRS has an online upgrade resource center for all information related to the record keeper change. This center also includes an FAQ section for members who have additional questions.
Members may also contact DRS Retirement Specialists at 800-547-6657, option 5, or 360-664-7062.
Employers may contact Employer Support Services at 800-547-6657, option 6 and then 2.