Committee Mark Stevens, Chair, Retired Wayne Thorley, SOS, Vice Chair Kent Ervin, Ph.D., NSHE Debbie Bowman, DHHS-ADSD Matt Kruse, EFFPD Staff Rob Boehmer, NDC Executive Officer Micah Salerno, Administrative Assistant       to the Executive Officer Henna Rasul, Senior Deputy Attorney General
	Contact the NDC Administrator or Staff: Rob Boehmer, NDC Executive Officer 775-684-3397 rboehmer@defcomp.nv.gov Micah Salerno, Exec. Officer Admin. Asst. 775-684-3398 deferredcomp@defcomp.nv.gov or Contact the NDC Contracted Provider, Voya®: Carson City office 866-464-6832 NDC@voya.com
	Wednesday, June 5, 2019 9 a.m. Nevada State Library & Archives 100 N. Stewart St., Room 110 Carson City
	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. EZ Enrollment Visit the NDC website to download and complete the EZ Enrollment Form and fax it to the NDC office. Enroll online Select Enroll Now and follow the two-step process after you click here. 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.

What's New

With winter bringing a lot of late snowfall to the State, most Nevadans are excited to welcome the spring and summer months. Looking ahead, NDC continues to work on providing the most value to participants and playing a role in national retirement reform. We are also developing more educational opportunities to assist employees with their Journey to and through retirement.

Retirement Reform: What Are We Seeing?

The NDC Program has always been a strong supporter and active participant in the National Association of Government Defined Contribution Administrators (NAGDCA). Founded in 1980, NAGDCA is the leading professional organization of public employer-sponsored deferred compensation plan administrators, supporting their efforts to create successful retirement security outcomes for plan participants.

The association provides a forum for sharing information on investments, marketing, administration and the federal laws and regulations governing DC Plans. NDC’s Executive Officer, Rob Boehmer, currently serves on the NAGDCA Executive Board and on its legislative committee. Mr. Boehmer and other board members spent a week in March 2019 meeting with key lawmakers on Capitol Hill. They worked together on preserving current important plan features and drafting legislation aimed to improve the financial wellness of government employees here at home and across the country.

2019 Financial Wellness Education

The NDC Administrative Staff is currently working on a series of educational financial wellness workshops. These interactive webinars will be accessible any time so employees and their families can develop and maintain their financial wellness. Active participants and employees, not to worry, we will continue to hold our live annual Financial Wellness Days in conjunction with National Retirement Security Week around mid-October 2019.

Many Responses to NDC’s RFP

As reported in previous issues of The Deferred Word, the NDC Program’s Recordkeeping Services Request for Proposal (RFP) was released by the NDC Committee and Administration, with assistance from our contracted investment consultant and the State Purchasing Division of the Department of Administration.

The RFP solicited bids for Plan recordkeeping and certain administrative services. This process is required by statute every five years to ensure that our participants are getting the most competitive services, pricing, and interest guarantees, given our growing Plan and asset base.

We have received a substantial number of proposals for this complex and sizable contract. An RFP Evaluation Committee has been appointed to review each proposal carefully. The proposals will be scored in a fair, clear and concise manner to help ensure the selection of a contracted recordkeeper that will serve efficiently and provide the best overall value. A decision is expected to be announced at the NDC Committee quarterly meeting on June 5, 2019.

In closing, all of us here at NDC wish you and your family a safe and enjoyable spring season.

Shook up by market volatility?

Don’t panic. The recent ups and downs of the stock market aren’t as unusual as they may seem.

The market can be volatile, and that makes trying to time the market very risky. Research and history show that you’re betting against the odds when attempting to accurately time when to get in and out. For market timing to pay off, an investor has to correctly predict when the market will go up AND when it will go down — or vice versa. Even the best day-traders see very mixed results. Are you really willing to gamble with the funds in your NDC account?

You may be tempted to sell off your assets after watching the market go down one day, then up the next. Resisting the urge to react to volatility, however, may allow you to benefit when it recovers.

Instead, consider worrying more about the factors you can control, like how much you are saving. And consider putting more of your attention toward constructing a portfolio that reflects your risk tolerance and your long-term retirement planning strategy.

Understanding the market cycle may be a key factor to getting the most out of your investment goals. Disciplined investing and managing your reaction to a bad market day or week could be the best hand you can play.

Systematic investing does not ensure a profit nor guarantee against loss. Investors should consider their financial ability to continue their purchases through periods of low price levels.

Best practices for safeguarding your NDC account

Data breaches and hacks make national headlines on a regular basis. These threats are real, and all of us need to protect our accounts as well as possible.

Here’s what you can do to help keep your NDC account secure:

How will I know when I have enough to retire?

Running a retirement illustration is important for everyone, and an urgent priority as you get closer to retirement.

An illustration can let you know if you are on track or if you need to make minor tweaks or major changes to your retirement savings and planning behavior. Without an illustration, you may not know how much income you need for retirement or how to appropriately plan your distributions so that you have an income stream that may have to stretch decades into the future. You could end up retiring without enough savings, or spend your savings too quickly. By anticipating your retirement needs now, you may decide to work longer if you’re uncertain whether you’ve saved enough.

You don’t have to go it alone. The dedicated NDC Administrative Staff and experienced representatives* of our contracted provider, Voya Retirement Insurance and Annuity Company, that are approved and assigned by the NDC Executive Officer to the NDC Program, can assist you. Just call the NDC Administrative Office at 775-684-3398 or Voya^® in the Carson City office at 775-886-2400.

Whether you decide to work with someone or do it yourself, you’ll start your retirement illustration by thinking about how you want to live in retirement.

Set goals. List your financial needs, hobbies and interests.

Create a budget. Build a budget that will help you balance spending against your income and savings. List where your income will come from and estimate expenses that could increase, and those that might decrease over time. Remember, the only thing constant in life is change, so allow your spending plan to be flexible to deal with changes.

Consider how long you need your money to last. Spending too quickly could put you at risk of running out of money. If you can, delay taking withdrawals. Keeping your money invested longer may allow your NDC account to accumulate and possibly reduce the risk of outliving your money.

Know your options. Understanding the NDC Program’s distribution options when you are required to take money from your NDC account could help you decide how you want to manage your income in retirement.

* Investment adviser representative and registered representative of, and securities and
  investment advisory services, offered through Voya Financial Advisors, Inc. (member SIPC).

Setting yourself up for saving success

Retirement should be a time for enjoying the things that really matter, such as family, friends, personal passions, and not worrying about money.

It’s hard to crack down on savings when you don’t know what you’re saving toward. Write down your short-term and long-term savings goals. Are you saving for a big vacation, new car or major home improvement project? Once you know what’s on your list, it can motivate you to make it happen. Consider these strategies to help you reach your goals.

	Go through the last three months of credit card and bank statements. One of the best ways to get a handle on spending is to understand where your money is going. Take note of categories where you’re shelling out more cash than you expected.
	Focus on monthly charges. Often people sign up for things that automatically renew, such as subscriptions, gym memberships, etc., that they never really use. When you review your statements, look for services you’re paying for but not utilizing. Even if it’s only $15 a month, you’ll save nearly $200 a year by canceling just one of those.
	Make savings automatic. Set up a bi-weekly or monthly transfer from your checking account to an interest-earning savings account for short-term and long-term goals.
	Shop around for insurance. When’s the last time you got a new quote for your auto or home insurance? You may be able to get a better deal. Visit the big insurers online to see what you can get for your money or call a broker who can compare company prices for you.
	Use technology. There are numerous apps that will help you spend less and put more away. Some apps will round your purchases to the nearest dollar and put the difference in an account for you, while others analyze your spending and help you identify areas where you can cut back.
	Consolidate some debt. If you’re carrying debt at high interest rates on credit cards, consider transferring the balance to a credit card with a 0% interest rate for 12 months or more. Even if you can’t get your balance to zero in that time (and you should try), you’ll make more headway without the interest slowing you down.

To take full advantage of all of the opportunities that retirement presents, set yourself on the path to saving money in 2019.

THE DEFERRED WORD   |  First Quarter 2019

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    |    defcomp.nv.gov

This information is provided by Voya for your education only. Neither Voya nor its representatives offer tax or legal advice. Please consult your tax or legal advisor before making a tax-related investment/insurance decision.

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.

CN775501-0320

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