DRS Email 11-003, DCP Deferral Opportunity

  • Notice No.: 11-003
  • Date: January 27, 2011
  • Applies to: DCP Employers
  • Subject: DRS Email 11-003, DCP Deferral Opportunity

Please forward the message below to your employees and consider posting to your intranet. We would also appreciate you including this information in any newsletters or other communications you provide to your employees on saving for retirement messages.

Thank you for your support of this important employee benefit. Feel free to e-mail DCP if you have any questions or suggestions on how we can help you support DCP. We value your input as a partner and together we can help public employees achieve greater savings for their future.

Questions?

If you have any questions regarding this DRS Notice, please contact Employer Support Services at 360-664-7200, option 2, or 800-547-6657, option 6, option 2; or e-mail us.

Message from Department of Retirement Systems

Opportunity to Increase Your DCP Deferral

Did you know the employee portion of the Social Security Tax will decrease from 6.2% to 4.2% for all of 2011? This provides a great opportunity for you to increase your DCP deferral amount by 2%. Even better, your take home pay may still increase since there is no tax withheld on your deferral amount.

Need to know more about Washington State's Deferred Compensation Program

The DCP Overview provides a quick summary.

If you are not currently participating, remember that everyone has good intentions about saving for retirement but life can get in the way sometimes. For just $30 a month, you can start saving for your future and reduce your taxable income. All you have to do is complete the Participation Agreement form.

Want to know more - check out the Enrollment Booklet and Investment Guide on the publications page.

Discover The Smart, Easy way to Save with the Deferred Compensation Program.

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