Employer Newsletter spring/summer 2011

Plan 3 and DCP Fund Lineup Changes

The Self-Directed investment options for Plan 3 members and Deferred Compensation Program (DCP) participants are changing in the fall. After review of the current funds, the Washington State Investment Board (WSIB) worked closely with DRS to streamline and update the investment options.

Plan 3 members and DCP participants will be able to begin investing in the new fund options on September 24. If they're invested in a fund that’s being discontinued, they’ll have until October 28 to move their money and change which funds their future deferrals will go into. After 1 p.m. PST on September 23, no transfers will be accepted into a fund that is closing.

If members and participants don't choose an investment option by the time the markets close on October 28, DRS will transfer their money to a Retirement Strategy Fund that is based on their birth year and the assumption they will retire at 65.

Later this summer, DRS will send a fund transition guide with detailed information to members and participants. In the meantime, if your employees have questions, ask them to visit the fund transition web page at www.drs.wa.gov/member/faq/fund_transition.htm* for regular updates.

*Link disabled, page no longer available