Committee Wayne Thorley, SOS, Chair Debbie Bowman, DHHS-ADSD, Vice Chair Kent Ervin, Ph.D., NSHE Matt Kruse, EFFPD Steve Woodbury, Retired 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
	November 13, 2019 9 a.m. Nevada State Library and Archives 100 N. Stewart Street, 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

As the Nevada Summer comes to a close and the Autumn Season begins, the Nevada Public Employees’ Deferred Compensation Program (NDC) prepares for exciting changes and new educational opportunities to assist participants and employees with their Journey to and through retirement.

Recordkeeper Services Contract Approved

It is final!!! The State of Nevada Public Employees’ Deferred Compensation Program (NDC) Recordkeeping Services Contract for 2020 through the end of 2024 was approved by the Nevada Board of Examiners on August 9, 2019. I am proud to announce that Voya Financia^®l was again selected as the NDC Program’s contracted Recordkeeping Service. In this new contract, the NDC Program was able to negotiate new service guarantees that will benefit participants and continue to strengthen Financial Wellness outcomes for participants. Additionally, participants will now have the ability to receive FREE investment advice by phone, by logging into their accounts, or by meeting with one of the three Plan service representatives that will be solely dedicated to our Plan. Finally, I am proud to announce that with this newly negotiated contract, the NDC Program was able to decrease the cost that we pay for contracted recordkeeping services by nearly $1 million over the next five years. But wait...there’s more...

IMPORTANT Plan News: Our General/Fixed Account Crediting Rate Will INCREASE

The State of Nevada Deferred Compensation Committee and Administration is also pleased to announce that as a result of a newly negotiated contract starting in 2020, the crediting rate of the Stable Value/General Account investment option, the Voya Fixed Account - 457/401 II, will be increasing to 3.10% on January 1, 2020. This will become the declared rate for the rest of the 2020 & 2021 calendar years. It is important to note that these guarantees are based on the claimspaying ability of the Voya Retirement Insurance and Annuity Company. Please feel free to contact the Executive Officer, Rob Boehmer, for additional information at 775-684-3397 or by email at rboehmer@defcomp.nv.gov.

Financial Wellness Days in October — MARK YOUR CALENDERS!

Each fall, the NDC Program organizes and hosts workshops in preparation for National Retirement ecurity Week (NRSW). This year, we invite all government employees and their families to participate in financial wellness workshops during the State of Nevada’s 13th annual Financial Wellness Days on October 14th and 16th, 2019. > MARK YOUR CALENDARS NOW.

NDC Admin. Staff and Committee Members Attend NAGDCA Conference

The Nevada Deferred Compensation Program is a longstanding member of the National Association of Government Defined Contribution Administrators (NAGDCA), with the NDC Executive Officer currently representing the State of Nevada by serving on this National Organization’s Executive Board. The NDC Executive Officer and Committee members attended this annual conference where they received a plethora of training and knowledge from industry, educational, and Plan professionals from across the world.

In closing, all of us here at NDC wish you and your family a safe and enjoyable start to the Fall and Holiday Season.

Financial Wellness Days in October

Each fall, the NDC Program organizes and hosts workshops in preparation of National Retirement Security Week (NRSW).

This year, we invite all government employees and their families to participate in financial wellness workshops during the State of Nevada’s 13th annual Financial Wellness Days.

The workshops will be conducted live at both locations and broadcast online and to the Carson City and Las Vegas locations.

LAS VEGAS: Monday, October 14
Grant Sawyer Building
555 E. Washington Ave., Suite 4412
(Vendors will be in the Balcony Area)

** For those in Northern Nevada who would like to participate on October 14, we will video broadcast to the NV State Legislature Building in Carson City in Room 2134 where you will be able to engage in an interactive experience.

CARSON CITY: Wednesday, October 16
State Legislature Building, 401 S. Carson St.
Rooms 1214
(Vendors will be in room 3100)

** For those in Southern Nevada who would like to participate on October 16, we will video broadcast to the Grant Sawyer Building in Las Vegas in Room 4412 where you will be able to engage in an interactive experience.

Spend some quality time with your account

Your Nevada Deferred Compensation account offers valuable features to help you plan for your retirement and other priorities. It can really help make your retirement dreams a reality! See where you stand and take the action you need to by logging in to nevada.beready2retire.com today.

Click Financial Wellness to begin the new Financial Wellness Experience with a short assessment. You’ll be measured on the six pillars of financial wellness and receive a summary of where you are with each of them. The Experience will then be accessible every time you visit your account, with recommended tools, videos and articles to help address the areas you can help to improve.

Check myOrangeMoney^® to find out how your current Plan account balance translates into estimated monthly income in retirement. Add any other outside savings account or former retirement plan balances to Orange Money as well to get a more complete picture of your track to retirement. Once you see the progress you’ve made, you can then determine if you need to change how much you’re saving or where you’re investing.

IMPORTANT: The illustrations or other information generated by the calculators are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. This information does not serve, either directly or indirectly, as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions related to your individual tax situation.

4 Things That Threaten Women’s Retirement Security

At a time when women are experiencing a social and an economic upswing, they still may have a steeper uphill challenge for a secure retirement than men do. Here’s why:

Living Longer

Women are likely to live longer than men by roughly 5 years and that can be a risk to women’s retirement security. How? While technically they could enjoy retirement longer, women are also more likely to outlive their retirement savings as well. Throw in the cost of additional years of healthcare and now you’re looking at a greater need to save more.

Wealth Gap

The gap in economic equality is narrowing thanks to women gaining work in higherpaying fields as well as holding higher-ranking positions. Still, there is a significant disparity in wealth. The wealth gap looks at your total balance of assets minus debts, so it gives a much more accurate picture of how you’re doing financially than measuring wages alone.

Lack of Investing Confidence

Women are taking control of their financial lives like never before, but when it comes to investing, their confidence decreases drastically. By tending to be more risk averse in their investments, women risk sacrificing growth opportunities for safety. Saving is an important step in retirement planning, but it’s also important to take opportunities to build wealth.

Likely to Work Less

Taking on the responsibilities as a caregiver can lead to gaps in active employment for women. Nearly four-in-ten mothers (42%) said that at some point in their work life they had taken a significant amount of time off (39%) or reduced their work hours to care for a child or other family member. Roughly a quarter (27%) said they had quit work altogether to take care of these familial responsibilities.* Ultimately, this leads to fewer years worked and a smaller contribution amount toward their retirement, resulting in lower lifetime savings.

The good news is that women can overcome these challenges by having a sound plan and saving early and often. Facing the numbers and knowing the facts can very well be the motivation women need to take control of their financial future.

To learn more about how to make the most of your retirement savings, be sure to log into nevada.beready2retire.com today and review your current saving rate. Once you’ve seen how much of your income you’re estimated to place in retirement, you may want to consider increasing your savings today to take action for your retirement tomorrow.

* Source: Pew Research Center Survey of U.S. Adults - https://www.pewsocialtrends.org/2013/12/11/on-pay-gap-millennial-womennear-parity-for-now/

Things to consider that will shape how you retire

Remember when you bought that one thing that you really didn’t need and it felt like a waste of money? Chances are you could’ve used that money for something more worthwhile like paying off a debt or even using the money to invest or save for a specific financial goal. The financial decisions you make today can ultimately have a huge impact on your future – and more specifically, your retirement.

Saving isn’t always easy to do, especially when you have so many other things to do with your money but making the decision to put something aside for tomorrow is a lot easier once you take the time to envision what life in retirement could be if you don’t have enough. Here are practical suggestions you should consider to help you make sound financial decisions for today and tomorrow.

1. Plan it. Create or revisit your financial plan so that you can identify new or existing money goals and objectives, followed by a strategy for making those things happen. Making and sticking to a financial plan is a good way to help build wealth, make ends meet, and everything else in between.

2. Know the ins and outs of your money. Conduct an audit of your finances so you can get a clear grasp of your current situation. Make a list of all of your assets, and then subtract existing debts to figure out your net worth. Then find out how much you bring in and spend each month so you can get a clear picture of your spending habits. This will help you make smart choices in regard to spending and saving.

3. Retire debt. The reality is when you retire, you will be living on a fixed income. Entering retirement with debt means you’ll have less flexibility to spend on what you want and need, so it’s important to get rid of existing debt and not create any new debt. Try to pay off credit card balances, high-interest loans or balances for other accounts where interest is high.

4. Save more and more. Building up your savings is the most important part of a solid retirement plan. Doing so can help you to prepare for financial emergencies and unexpected expenses in retirement. Consider saving at least a portion of those extra income opportunities like tax refunds, bonuses, and even reimbursements. Investing more now allows more time for those contributions to potentially grow based on market performance.

There will come a time when your working years will end, so do all you can now to be in the best position for a better tomorrow. For more on making financial decisions for yourself and your retirement, visit blog.voya.com.

You’re still part of our family!

Although you’ve retired from full-time service, you can continue to benefit from the Nevada Deferred Compensation Plan. Our local service team, investment options, and competitive fees are the same for participants still working and those who have retired or left service. Keeping your money in the NDC may provide you with better retirement opportunities than rolling your money into another plan or traditional IRA.

Consider these factors before withdrawing or transferring your funds:

Yes, you can stay. You do not have to move your money out of the NDC Plan when you retire or terminate employment. You can leave your money in the Plan and we can help you with your Required Minimum Distributions when you turn 70½.

You benefit from lower fees by being part of a large group plan. The Plan is able to negotiate competitive investment and administrative costs, and there are no sales costs associated with any of the Plan’s core investment options. This means that more of your money is working for you in your Plan account rather than going toward fees.

You can consolidate your retirement savings. You can roll over assets from other pretax retirement savings accounts into your NDC account to keep all your assets in one place. Please carefully consider the benefits and features of all existing retirement accounts before consolidating them. Assets rolled over from other non-457 plans (such as 401(a)/401(k), 403(b), a traditional IRA) may remain subject to the IRS 10% premature distribution penalty tax.

You have a wide range of investment options. You have access to investment choices including the Voya Fixed Account – 457/401 II, Vanguard Target Retirement Date Funds, bonds and stock mutual funds. Investment advisory services through Morningstar Investment Management LLC are also available to you.

Flexible distribution and payout options are available. NDC provides a variety of distribution options to suit your financial needs, including installment payments and partial withdrawals. You can change your distribution option as many times as needed to meet your needs.

For more Nevada Deferred Compensation information, please visit nevada.beready2retire.com.

Special Thank You to Mark Stevens

Together with Governor Sisolak’s office, the NDC Committee and Program Administration would like to extend our special thanks and appreciation to long time committee member Mark Stevens, who has served as a vital member of the NDC Committee since 2015. Mark served as Chairman of the Committee in both 2017 and 2018. Mr. Stevens’ extensive fiscal and administrative knowledge, together with his outstanding leadership, will truly be missed. Not to worry, though, as Mark continues to serve the State as one of Governor Sisolak’s newest appointees to the Nevada PERS Board. Our deepest thanks go out to Mark for his service and his sweet wife, Lori, for her support of her husband’s continued service to the State of Nevada.

NDC Committee Welcomes Back Steve Woodbury

Governor Sisolak has appointed Mr. Steve Woodbury to the NDC Committee to the Retiree Represented position on the NDC Committee. Steve is a friendly face to many from his service on the Committee as an active employee of the State of Nevada. Steve will represent the Retiree membership well and provide essential leadership and governance to the Committee and Program alike. His extensive Government Defined Contribution knowledge and governance experience will continue to be an asset to the NDC Program. We are excited to have him as part of the Team again.

THE DEFERRED WORD   |  Third 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.

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