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2017 has already been one of the wettest winters ever recorded in Nevada history. Naturally, most of us Nevadans are especially excited to welcome the spring and summer months.
Save the dates
NDC will sponsor the Annual Retiree Financial Education & Wellness Fair June 12 – 16, 2017. If you are a retired participant or getting ready to retire, you are encouraged to attend one or more of the many financial wellness workshops that will be held over this three-day event in Las Vegas, Carson City and Reno. This year’s format will expand to include full days with multiple opportunities to learn new information about Deferred Compensation, NVPERS, Social Security, health insurance planning and management in retirement, estate planning and preservation, budgeting and other employee assistance programs the State offers retired government employees.
The annual Financial Wellness Education Days for active participants and employees will be held in conjunction with National Retirement Security Week, October 16 – 20, 2017.
Mid-cap fund added
After months of research and multiple fund searches conducted by the NDC Committee through our contracted investment consultant, the Committee selected the Vanguard Mid-Cap Value Index Fund (VMVAX) to further diversify the NDC Program’s core investment lineup. For fund information, visit the defcomp.nv.gov or call the NDC Program Coordinator at 775-684-3397.
Investment advice service webinar
Please join Morningstar® Associates on Wednesday, April 19, 2017, for a live webinar on the Morningstar investment advice service option available to NDC Program participants. The 30-minute presentation will be held at different times so you can select the session that fits your schedule: 8 a.m., 9 a.m., 11 a.m. or 4 p.m. (Pacific Time). You can also read more about the service on page 3. To reserve your seat, go to defcomp.nv.gov.
Remembering Jack Crawford
We regretfully announce the passing of past NDC Committee member Jack Crawford who served on the NDC Committee back in the 1980s for many years. Our condolences go out to Jack’s family and friends. He will surely be missed.
In closing, all of us here at NDC wish you and your family a safe and enjoyable spring season.
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Three ways to save for your future
The NDC Program offers you the choice of making traditional pre-tax deferrals, after-tax Roth contributions or a combination of both to your NDC account.
While your decision depends on your personal situation, here are three scenarios that could help you determine what might be appropriate for you.
Maybe stick with traditional pre-tax deferrals if you:
Consider after-tax Roth contributions if you are:
Think about contributing both ways if you:
Keep in mind that the combined total of your pre-tax and Roth contributions cannot exceed the IRS’s annual 457 contribution limits, including any available catch-ups.
To compare the impact of traditional pre-tax and Roth contributions on your paycheck, try the calculators at nevada.beready2retire.com under Resource Center. Select Calculators, then select You can access more retirement calculators here.
A representative assigned to the NDC Program by our contracted recordkeeper, Voya Financial®, can explain your traditional pre-tax and Roth contribution options when you call 866-464-6832 or the local Voya® office at 775-886-2400.
The Voya® family of companies does not offer financial, legal or tax advice. For such advice, consult with a financial or tax advisor or legal attorney.
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Advice and management services for your account
It can be hard to know if your decisions about saving and investing in your NDC account will lead to meeting your retirement objectives.
To help you, the NDC Program has teamed up with the experts at Morningstar® Associates to offer you two levels of investment advice and personalized guidance. Your choice will depend on how comfortable you are with managing your NDC account.
If you prefer to handle your NDC account’s investments yourself, but would like a helping hand, Morningstar Managed by You provides advice and investment recommendations at no additional cost. It’s up to you to implement the advice you receive. You may use the service as often as you like.
If you prefer to hand the responsibility of managing your account over to the investment professionals at Morningstar Associates, consider Managed by Morningstar. As part of this fee based service, a professional account manager will recommend and implement an asset allocation strategy customized for you. Your investments will be selected for you and monitored on an ongoing basis. You will receive regular updates on your account. The fee for Managed by Morningstar is 0.50% of your account balance per year. For example, if your account balance is $10,000, the annual fee is $50.00.
To access either Managed by You or Managed by Morningstar, log into your account and select Get Advice under the Account tab.
* IMPORTANT: The projections or other information generated by Morningstar® Retirement ManagerSM regarding the likelihood of various retirement income and/or investment outcomes are hypothetical in nature, do not reflect actual results (including investment results) and are not guarantees of future results. Results may vary with each use and over time.
Morningstar® Retirement ManagerSM is offered by Morningstar, Inc. and is intended for citizens or legal residents of the United States or its territories. The investment advice delivered through Morningstar Retirement Manager is provided by Morningstar Investment Management LLC, a registered investment adviser and subsidiary of Morningstar, Inc. Morningstar Investment Managements’ 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 Financial provides Morningstar Investment Management with the Plan’s investment options and information about participants, but the decisions regarding the advice provided are made by Morningstar Investment Management. Voya and its companies are not affiliated with Morningstar Investment Management, LLC or its affiliates, and receive no fee or other direct financial benefits from Morningstar Investment Management in connection with the use of its services. The Morningstar name and logo are registered marks of Morningstar, Inc.
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Your beneficiary designations:
Whoever you name as a beneficiary will receive your NDC account balance upon your death.
It’s smart to review your choices from time to time. You want to be sure that the right individuals will get your money, especially if your personal situation changes. Checking your beneficiary designations at least once a year could help prevent these common errors:
These are mistakes that would affect the people in your life who depend on you. So look at your NDC account statements or log into your account online to verify that the beneficiary designations on file reflect your current wishes.
To make changes any time, log into your account. Select My Account, then Personal Information, then Beneficiary Information. For the Beneficiary Designation Form, go to defcomp.nv.gov.
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Help with staying in control during uncertain times
For your retirement savings to last over a retirement of 25 years or longer, you have to balance two competing goals: protecting your savings against market downturns and guarding against the impact of inflation.
This year may present a challenge for all investors as interest rates and inflation have the potential to go up. That may be especially true for you, since you depend on your retirement accounts for income. Given the uncertainty ahead, you may want to take a close look at your withdrawal strategy and whether your investments are diversified appropriately for your situation.
You can ask questions and get help from the representatives assigned to the NDC Program by our contracted recordkeeper, Voya Financial®. These experienced representatives are very knowledgeable about the NDC Program and the investment options. They have expertise in retirement planning, asset allocation, investment education and distribution strategies. To talk or meet with a representative, please call the Carson City office at 775-886-2400 or send an email to NDC@Voya.com.
* Registered Representatives of and securities offered through Voya Financial Advisors, Inc. (member SIPC)
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