This week, the Department of Retirement Systems (DRS) is mailing an informational brochure to all Plan 3 members regarding the transfer of Plan 3 record keeping services from ICMA-RC to Empower Retirement, effective Oct. 1, 2015.
The brochure introduces the upcoming record keeper changes and provides key information on what Plan 3 members should know, including how their account access will be limited during what is known as a “blackout” period. The blackout period will be from 1 pm Sept. 23 to 10 am Oct. 2 (Pacific Time). DRS will send a final blackout reminder to employers and members in September.
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 at this time.
DRS has an online upgrade resource center for all information related to the record keeper change.
If members have questions, they may contact DRS Retirement Specialists at 800-547-6657, option 5, or 360-664-7062.
Employer Questions? If you have questions, please reply to this notice or call Employer Support Services at 360-664-7200 (option 2), or 800-547-6657 (option 6 then option 2).