Make time for a retirement checkup
Is your savings on track to help you live the retirement of your dreams? If you’re not sure, there’s no time like the present to check in on your progress. You can do that by logging in to your online account. Once you’re there, select “Plan Summary” to view your contributions. You can access this information any time you like.
If you’ve had a change in marital status or other major life change, you can also review or update your beneficiaries while in your online account.
Don’t forget to check to ensure that your service credit totals are accurate! This can be especially important if you’ve been out of work for a major illness or injury. Paying back service credit, if necessary, can have deadlines depending on the type of absence, and waiting may cost you.
If you’re able to increase your Deferred Compensation Program (DCP) savings, or if you need to stop contributing, you can do that through your online account as well.
This year, the IRS has increased your retirement savings contribution limits to help you maximize your money so you can retire well. See more about the annual contribution limits based on your age and plan type. If you can, consider increasing your contribution rate.
If you have questions about your account, send a secure message through your online account by selecting “contact us.”
New legislation allows more flexibility in the number of hours some retirees can work for the public sector.
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The 2024 COLA percentages effective July 1 for most plans have not been released. DRS will update the COLA information page when the information becomes available in 2024