Episode transcript: [music intro] Jenny Welcome back to Fund Your Future with DRS. Now at DRS, we work with lots of different types of public employees as we help them into retirement and with their retirement package throughout their careers. In our office, firefighters have a reputation for being very knowledgeable about how their pensions…
Tag Archives: DCP
Did you choose the right plan?
Most of us don’t know exactly what we’ll be doing 30, 20 or even 10 years from now. And yet, when you chose a retirement plan, you were faced with deciding just that. Which plan will serve me better for my lifetime? It’s a big decision. And in the case of your DRS retirement plan,…
Episode 62 – Finding calm when the stock market goes down
Episode transcript: [music intro] Jenny Welcome back to Fund Your Future with DRS. Well, it’s April of 2025 and we know that there’s been a lot of uncertainty recently about the stock market. So, we thought it’d be a good idea to do an episode about this. But even though the market is low, that…
DCP tax savings benefits and beyond
Taxes are known causes of headache, nausea and anxiety. But when you save with the Deferred Compensation Program (DCP) there are actual tax benefits that can cure your taxation woes. Well, at least a few of them! Here’s how taxes affect your DCP savings: The DCP – Deferred Compensation Program webpage has more tips and…
More DCP savings in 2025
The IRS limits have increased for retirement savings programs like Washington’s Deferred Compensation Program (DCP). Beginning Jan. 1, 2025, you can contribute up to $23,500 per year. If you’re 50 or older, you can contribute up to $31,000 per year. These limits apply to DCP Roth and pretax contributions. That means whether you contribute to…
Updates to DCP and Plan 3 Retirement Strategy Funds
A new Retirement Strategy Fund (RSF) is coming to the lineup of investment options in Plan 3 and the Deferred Compensation Program (DCP). The most recent addition – the 2070 Retirement Strategy Fund – will be available beginning Jan. 6, 2025. The newest fund is designed for those born in 2003 or later. Meanwhile, the…
Most DCP and Plan 3 investment costs reduced in 2024
Every summer, we post annual fee changes for DCP and Plan 3 investments. Fees are based on the cost to manage the investments and vary by fund type. The revised fee tables are available now on the DCP and Plan 3 pages. DRS investment options are provided by WSIB (Washington State Investment Board). At just a fraction of a…
Episode 43 – Millennials and inflation
Episode transcript: [music intro] Jenny Welcome back to Fund Your Future with DRS. And today we’re continuing our generational conversation about how different generations are saving for retirement. And we’ve got a DRS team member in the studio with us today from the millennial generation: Durin. Welcome. Durin Thank you, Jenny. Happy to be here.…
Episode 42 – Baby boomers: final advice for retirement
Episode transcript: [music intro] Jenny Welcome back to Fund Your Future with DRS. Today we’re continuing our generational conversation. We’ve got two DRS team members who are both in the baby boomer generation – close to retirement. We’ve got Jim and Elisa who are here to talk about how they’re approaching this big life transition.…
Episode 41 – Gen X: growing up without financial advice
Episode transcript: [music intro] Jenny Welcome back to Fund Your Future with DRS. We’re continuing our discussion of how Gen X is preparing for retirement, and this is the generation that’s starting to get serious about prepping for the next stage of life. Today we’ve got two more DRS team members from Gen X, Sherry…
