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
	March 5, 2020 9 a.m. Nevada State Library and Archives 100 N. Stewart Street, Boardroom 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 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 we welcome the winter season and the New Year begins, the Nevada Public Employees’ Deferred Compensation Program (NDC) prepares to implement some changes and new educational opportunities to assist participants and employees with their Financial wellness journey to and through retirement.

IMPORTANT Plan News: Our General/Fixed Account Crediting Rate Has INCREASED — AGAIN

The State of Nevada Deferred Compensation Committee and Administration is pleased to announce that the crediting rate of the Stable Value/General Account investment option, the Voya Fixed Account- 457/401 II, has increased from 2.75% to 3.10% on January 1, 2020. This will become the declared minimum guaranteed rate for the 2020 and 2021 calendar year. Guarantees are based on the claims-paying ability of Voya Retirement Insurance and Annuity Company. Guarantees do not apply to the investment return or principal value of the separate account. Please contact the Executive Officer, Rob Boehmer, for additional information by calling 775-684-3397 or emailing directly at rboehmer@defcomp.nv.gov.

New Modified Lower Cost Structure Effective January 1, 2020

With the implementation of our newly negotiated recordkeeping contract with Voya Financial^®, The NDC Committee has modified the Program’s cost structure to reflect the reduction in cost we were able to negotiate, continue to provide transparency in the costs that each participant shares, and continue to make the effort to ensure that participants are all equitably sharing in the costs of administering the Plan. A letter was mailed to all Plan participants explaining this change and illustrating the new cost structure that participants should expect beginning January 1. Participants have been directed and reminded to register their account to ensure that all current and future security enhancements are implemented and effective on their NDC account as well as to allow the convenience and flexibility to check beneficiary declarations, make changes to personal information, and verify that contributions are being accounted for appropriately.

Investment Consultant Services RFP Released

The NDC Committee and State Purchasing Division have issued the Plan’s investment consulting services Request for Proposal (RFP) solicitation on December 27, 2019. We expect multiple vendors to bid on this contract and look forward to negotiating and executing a valuable contract within the coming months, with a new contract expected to start around June or July, 2020.

NDC Committee Adopts New Vanguard Mid Cap Growth Index Fund and Eliminates the Goldman Sachs Small/Mid-Cap Growth and Oppenheimer Main Street Mid-Cap Funds

At the December 13, 2019 Quarterly Committee meeting, the NDC Committee conducted a robust fund search and analysis in the Mid-Cap/Small-Cap universe. The NDC Committee reviewed research and data presented by the NDC contracted Investment Consultant, Segal Marco.* After extensive review and discussion, the NDC Committee took action to add the Vanguard Mid-Cap Growth Index Fund to the core NDC investment lineup, remove the current Goldman Sachs Small/Mid-Cap Growth Fund and Oppenheimer Main Street Mid-Cap Fund, and transfer (or “map”) all assets from the Goldman Sachs Small/Mid-Cap Growth to the Vanguard Mid-Cap Growth Index Fund and the Oppenheimer Main Street Mid-Cap Fund to the Vanguard Extended Market Index Fund. Any questions or concerns about these changes can be directed to NDC Executive Officer, Rob Boehmer, by email or phone at 775-684-3397.

In closing, we wish you and your family Happy New Yew from all of us here at the NDC Program.

*Segal Marco is a separate entity and not a corporate affiliate of Voya Financial^®.

How technology can help improve your future retirement

Preparing for and then living in retirement is quite different for you than it was for your parents or grandparents.

Today, more of us are living to age 80, 90 or even 100. Scientists even hypothesize that the first person to live to age 150 has already been born! By contrast, the average life expectancy at birth was just 58 for men and 62 for women when Social Security was introduced in the U.S. in the 1930s. With the greater potential of reaching your 100th birthday, you could enjoy a retirement that lasts decades. And thanks to innovations in technology, you can prepare yourself better than ever to spend that time the way you envision.

You can log in to your NDC account to see how it translates into estimated future monthly income in retirement when you engage with the myOrangeMoney^® online experience.

myOrangeMoney is designed to help you picture when you’ll have enough to retire. A dollar bill graphic represents the estimated retirement income you’ll need each month. It shows the progress you’ve made toward your income goal so far, based on when you plan to retire and how you’re saving and investing in your NDC account now.

To actively pursue your passions over a much longer retirement, planning today for that future tomorrow is crucial. Before and after you retire, take full advantage of everything your Plan offers, including online planning tools and people who can help you. Log in today.

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.

Contribution and catch-up limits announced for 2020

The Internal Revenue Service has announced the limits on the amounts participants may contribute to the Plan in 2020.

Beginning in the year in which you will reach age 50, you are allowed to contribute an extra $6,500 with the Age 50+ Catch-Up, for a total of up to $26,000

If you are within three years before the year in which you will reach Normal Retirement Age defined by the Plan, you may be eligible to contribute up to $39,000 with the Three-Year Special 457(b) Catch-Up. Since the Three-Year Special 457(b) Catch-Up takes into account your prior contributions, please contact the NDC Administrative Office or Voya for help calculating the catch-up amount available to you.

Remember, if you are a participant in a governmental 457(b) plan and are eligible for both catch-up options in the same year, IRS rules provide that you cannot use both in the same tax year and must use the option that lets you defer the greater amount.

¹ Applicable to 401(k), 403(b), and 457(b) plans.
² The Age 50+ Catch-Up is available to eligible participants in a 401(k), 403(b), or governmental 457(b) plan.

Take advantage of increased deferral limits

We encourage you to carefully consider your personal planning strategy to determine if you’re saving enough for retirement. Log into your NDC account to see how your account translates into estimated future monthly income in retirement when you engage with the myOrangeMoney online experience.

When you’re ready to increase your NDC savings for 2020, visit defcomp.nv.gov to download and complete the Payroll Contribution Form. Send the completed form to NDC by fax or email to save more in the new year.

Simple steps to balance family, finances
and your future

No matter what comes your way, figuring out how to balance your family, future and your finances can be overwhelming. Here are some simple steps and considerations you can take as you create a healthier financial future for you and your family.

Know where your money goes

You can’t manage what you don’t measure. Knowing where your money goes can help you track and save. In addition to general monthly expenses, include periodic purchases like going to the vet or picking up medications for yourself and others.

Talk about your goals

There are many priorities competing for your money. Talking about money with your entire family will help bring clarity to needs vs. wants vs. priorities. It is also a great chance to model positive money behaviors for kids and teach healthy habits early.

Make a realistic budgeting plan

Once you understand where your money goes, create a realistic budget that includes all things family and fun (you still have to live a little). Start with a list of expenses that includes your everyday needs, retirement savings, your monthly bills and debts, and your family’s other savings goals and wants. Then, find ways to reduce spending and limit impulse purchases of things that are outside your budget.

Find a balance

Financial wellness is about balancing the freedom of living for today, while preparing financially for tomorrow. Now that you have included your entire family and all of their financial needs, wants and priorities, you have a head start to achieving your goals. Just knowing where your money is going and that you’ve got everything covered will help you find some balance and focus on what matters most – you and your family.

We’re here to help retirees like you!

Throughout your retirement, your NDC account gives you access to assistance from the dedicated NDC Administrative Staff and experienced representatives of our contracted recordkeeper that are approved by the NDC Executive Officer and assigned to the NDC Program.

NDC Administrative Staff and the representatives from Voya Financial* are very knowledgeable about the Nevada Deferred Compensation Program and can help you with:

• Reviewing your financial plan
• Investment education and asset allocation
• Creating budgeting and spending plans
• Understanding your NDC account distribution options
• Consolidating your retirement assets to simplify your financial life
• Converting pre-tax savings to Roth
• And more!

If you’d like to talk with the NDC Administrative Staff or one of our dedicated and local representatives, call the NDC Administrative Office at 775-684-3398 or Voya^® in the Carson City office at 775-886-2400 or send an email to NDC@Voya.com.

Required Minimum Distributions reminder

You are required by law to begin annual withdrawals, called Required Minimum Distributions (RMDs), from your Plan account and other employer-sponsored 401, 403(b), and 457(b) retirement plans by April 1 this year if you reached age 70 1/2 in 2019 and have already retired. Subsequent RMDs must be taken by December 31 each year. If you do not take all or a portion of your RMD by the required deadline, you may be subject to a 50 percent IRS penalty tax on the amount not taken on time, even if you withdraw it later. For more information, call the NDC Administrative Office or talk with your financial or tax adviser.

This material is provided for general and educational purposes only; it is not intended to provide legal, tax or investment advice. All investments are subject to risk. Please consult an independent legal or financial advisor for specific advice about your individual situation.

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

THE DEFERRED WORD   |  Fourth 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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