Committee Karen Oliver, Chair, GCB Brian Davie, Vice Chair, LCB Scott Sisco, NDOC Mark Stevens, Retired Steve C. Woodbury, GOED Staff Rob Boehmer, Program Coordinator Micah Salerno, Administrative Assistant Shane Chesney, Sr. Deputy Attorney General
	Contact Rob Boehmer NDC Program Coordinator 775-684-3397 email: rboehmer@defcomp.nv.gov Voya®: 1-866-464-6832
	Thursday, December 3, 2015
	If you are interested in saving for retirement and have not enrolled in the Nevada Deferred Compensation Program, choose any of these convenient ways to get started now. Meet with your Voya local representative. Call toll free 1-866-464-6832 or 775-886-2400 to set up an appointment to review your personal situation and complete the forms. Enroll online. Follow the two-step process after you click here. EZ Enrollment. Visit the NDC website to download and complete the EZ Enrollment Form and fax it to the NDC office.

As the fall season begins, the Nevada Public Employees’ Deferred Compensation (NDC) Program prepares for exciting changes and new educational opportunities to assist participants and employees with their journey to and through retirement.

Join Us for Financial Education Days in October

To promote and participate in National Save for Retirement Week, the NDC Program, in cooperation with our contracted record keeper, Voya Financial^®, will again host the Ninth Annual Financial Education Days the week of October 19-23, 2015. Be sure and mark your calendars. We will conduct a series of educational workshops throughout the State in Carson City, Reno, Las Vegas, and again in Elko, Nevada. Additionally, we have invited both PERS and Social Security to offer education on their programs. Look for additional information at your work location or via email in the upcoming weeks.

Mark Stevens Appointed to the NDC Committee

NDC is happy to announce that Governor Sandoval has appointed Mark Stevens to be the new Retiree Representative on the NDC Committee, pursuant to NRS 287.325.

Mr. Stevens has 39 years of State service, including 28 years at the Legislative Counsel Bureau where he held the position of Assembly Fiscal Analyst, serving as staff to the Assembly Committee on Ways and Means from 1983 to 2009. In 2009, he accepted a position at the Nevada System of Higher Education (NSHE) where he served as the Vice Chancellor of Finance for over two years until retiring in 2012. He earned a Bachelor of Science degree in Business Administration from the University of Nevada, Reno. A resident of Reno, Nevada, he is married with two children.

Solicitation for NDC Committee Vacancy

NRS287.325 establishes that the Governor of the State of Nevada shall appoint a Committee to administer the NDC Program.

The Committee must consist of:
a) Three members who are employed by state agencies whose payroll is administered by the Division of Human Resource Management of the Department of Administration;

b) One member who is employed by a state agency whose payroll is administered by an entity other than the Division of Human Resource Management of the Department of Administration; and

c) One member who has retired from employment by the State of Nevada or the Nevada System of Higher Education.

Additionally, each member of the Committee must be a participant in the Program, have participated in the Program for not less than two years, and have been nominated (by way of written nomination or recommendation) for appointment by five or more persons who have participated in the Program for not less than six months.

In September 2015, there was a vacancy on the Committee for the representative whose payroll is administered outside of the Division of Human Resource Management and Department of Administration (i.e., NRS 287.325(b) – any qualifying participant employed by Legislative Counsel Bureau, Nevada System of Higher Education, etc.). The Governor’s office has requested NDC staff to solicit any interested individuals who meet the qualifications to apply for an appointment. Interested parties may access Governor Sandoval’s Boards and Commissions Application online or may contact the Governor’s Office directly at 702-486-2500 for more information and assistance.

The NDC Administrative Office has moved!

In August 2015, the NDC Administrative office in the Capitol Annex in the Library and Archives Building is now located on the first floor in Suite 100 along with EITS and the Office of the CIO. You are welcome to visit our office for information, to ask questions or drop off forms. Since the office suite is a secured location, you will need to use the phone in the lobby to ask for assistance. Simply dial our extensions listed directly below the phone system and a staff member will come out to accompany you inside. Our current contact information remains the same. Forms can be faxed or emailed to our office for processing.

In closing, all of us here at NDC join you and your family in welcoming the fall season and upcoming holiday season.

Taking your first retirement planning steps

Enrolling in the NDC Program was a significant first step toward a more secure retirement future, congratulations!

The sooner you start saving and the more you contribute, the better. Time is your ally, especially when you are in your 20s and 30s. The younger you are, the more time you have ahead of you to save and invest for retirement. Having 30 to 40 years to save and invest may also give you the opportunity to invest in options with greater growth potential — and perhaps worry less about short-term market conditions.

Of course, it’s never too late, the important thing is to start saving as soon as you can. You put more of the power of compounding and time on your side. Compounding occurs when interest is added to the principal amount of a contribution. Each year’s gains may build on those of the past, potentially increasing the value of an investment over time. Keep in mind that investments in the market fluctuate over time and may result in gains as well as losses. Of course, systematic investing doesn’t ensure a profit or guarantee against loss in declining markets. You should always consider your ability to consistently invest in up as well as down markets.

	You can continue to receive our quarterly newsletter and other important NDC correspondence if you are a retired or former government employee (or soon to be) via our secure electronic system. Here are the three easy ways to subscribe: 1. Subscribe on our website 2. Email us 3. Call us at the office 775-684-3398 Subscribing to paperless newsletters and correspondence helps us save money for all NDC account holders by decreasing the Program’s operating expenses. If you do not have access to email correspondence, you may contact our office to request a paper newsletter. Once you give us your mailing address, you will automatically receive the newsletter by mail every quarter. Thank you for continuing to stay up-to-date on the NDC Program after you separate from service.

Your NDC account gives you
flexible choices for saving

The NDC Program offers you the choice of making a traditional pre-tax deferral or a Roth contribution or both so you can diversify the tax treatment of your retirement savings.

With traditional pre-tax deferrals, no income taxes are withheld when your contributions are made to your NDC account. In the future, when you take a distribution from your account (typically, when you terminate employment), you will pay federal income taxes on withdrawals and earnings from this pre-tax portion of your account.

Roth contributions are taxed before they go into your account. The advantage is that in the future, you may withdraw earnings on those contributions free from federal income tax, as long as the following qualifications have been met:

• The first Roth contribution has been in the account for at least five years (or sooner, if assets were in a Roth account in another employer-sponsored plan and then rolled over into your NDC account), and
• You are eligible for a distribution from your NDC account and are either at least age 59½ or disabled, or the distribution is to be made to a beneficiary after your death.

It’s up to you to decide whether to make pre-tax deferrals or Roth after-tax contributions and how much. Contributing both ways may give you more flexibility now as well as when you start withdrawing income in retirement. A Voya^® representative can help you understand your pre-tax and Roth options when you call 1-866-464-6832. Voya does not offer tax or legal advice. You may want to seek the advice of a tax attorney or financial adviser prior to making a decision.

Is your NDC account's beneficiary up-to-date?

Whoever you name as your beneficiary will receive your NDC account balance in the event of your death.

It’s smart to review your choice from time to time, especially if you’ve had a major life change like a divorce, the birth of a child or a death in your family. Keeping your beneficiary updated ensures the information on file reflects your current wishes.

To check or change your beneficiary, log into your account. Select My Account, then Personal Information, then Beneficiary Information. For the Beneficiary Designation Form, go to http://defcomp.nv.gov.

How much is enough to retire?

To save enough, it’s important to understand the factors that affect the amount of income you will need in retirement.

You might live longer than you think. Better health care is helping more people live well into their 90s. You could spend 30 years or more in retirement. A lengthy retirement will require enough in retirement savings to last for decades.

Inflation can reduce the purchasing power of a once-comfortable retirement income. As prices go up, a dollar buys less. So your retirement savings may not be worth as much later. When choosing investments for your NDC account, you will want to consider some that have the potential to outpace inflation.

Costs for health insurance and health care often rise as you get older. Without adequate planning, you might find health care eating up much of your retirement income. This is especially true if you retire early, since Medicare doesn’t begin until you reach age 65.

What you save in the NDC Program is vital since many experts say you will need retirement income equal to about 70 percent of the salary you are earning just before retiring. Only a fraction of that is likely to come from Social Security or a pension, if you are eligible. Your personal retirement savings will have to make up the income shortfall. If you hope to retire early, keep in mind that you are not eligible for Social Security until you reach age 62. If you want full benefits, you may have to wait until age 65 or older. In the meantime, you will have to rely on the income from your personal retirement savings.

Working part-time after retirement may seem like an easy way to bring in extra income. But if jobs are scarce or your health changes, working may not be an option.

Managing your NDC account after you retire

Morningstar Associates, LLC and the Voya Financial® family of companies are not affiliated with Nevada Deferred Compensation.Morningstar Retirement Manager is offered by and is the property of Morningstar Associates, LLC (“Morningstar Associates”), a registered investment advisor and a wholly owned subsidiary of Morningstar, Inc., and is intended for citizens and legal residents of the United States and its territories. Morningstar Associates’ advisory service relates solely to the investment options offered under the plan. Retirement plan funding products offered through Voya Financial Partners, LLC (member SIPC) or other broker dealers with which it has selling agreements. Voya® provides Morningstar Associates with the plan’s investment options and information about participants but the decisions regarding the advice provided are made by Morningstar Associates. Voya and its companies are not affiliated with Morningstar Associates or its affiliates, and receive no fee or other direct financial benefits from Morningstar Associates in connection with the use of its services. The Morningstar name and logo are registered marks of Morningstar, Inc.

Keeping your NDC Program account after you retire has a lot of advantages.

You continue to be part of a $730 million group plan that keeps costs low through institutional pricing typically not available to individuals or small retirement programs.

The investment lineup is well researched and continuously monitored, offering you quality choices so you can maintain a well-diversified portfolio to help make your money last.

You always have access to your account balance, with flexible payout options for the level of liquidity and income you choose.

To make the most of your NDC Program account throughout your retirement, you might benefit from getting some professional advice.

Morningstar^® Retirement Manager is available to you as part of the NDC Program. It’s easy to get started. Log into your account, select Go to My Account and then Get Advice.

With Option 1, Managed Accounts (Managed by Morningstar), you may hand the responsibility of managing your account over to the investment professionals at Morningstar Associates. That means not only will you get personalized advice and guidance from some of the industry’s leading investment professionals, you’ll have a service that puts those recommendations into action for you. You’ll benefit from ongoing monitoring of your investment selections and your portfolio will be automatically rebalanced when necessary. Of course, you’ll receive regular Retirement Updates so you’ll always have a clear view of what’s happening with your account. Managed by Morningstar is available for an additional fee of 0.50%.

With Option 2, Investment Advice (Managed by You), you manage your own retirement savings account based on expert advice and recommendations that you receive from Morningstar Associates. It’s up to you to implement the recommendations you receive. There are no additional fees or costs for this option.

Your Voya^® local representative can answer your questions about Morningstar^®
Retirement Manager or review your NDC Program account with you. Call toll free
1-866-464-6832 or 775-886-2400 to set up an appointment.

THE DEFERRED WORD   |    Third Quarter 2015

Nevada Public Employees’ Deferred Compensation Program (NDC)
Nevada State Library and Archives Building, 100 N. Stewart Street, Suite 100, Carson City, NV 89701

Phone 775-684-3397    |    Fax 775-684-3399    |    http://defcomp.nv.gov

Securities and investment advisory services offered through Voya Financial Advisors, Inc (member SIPC)

Insurance products, annuities and funding agreements are issued by Voya Retirement Insurance and Annuity Company (“VRIAC”), Windsor, CT. VRIAC is solely responsible for its own financial condition and contractual obligations. Plan administrative services provided by VRIAC or Voya Institutional Plan Services LLC (“VIPS”). VIPS does not engage in the sale or solicitation of securities. All companies are members of the Voya® family of companies. Securities distributed by Voya Financial Partners LLC (member SIPC) or third parties with which it has a selling agreement. All products and services may not be available in all states.

Nevada Deferred Compensation is not affiliated with the Voya family of companies.

NEWSLETTER ARCHIVE