Debbie Bowman, DHHS-ADSD, Vice Chair
Kent Ervin, Ph.D., NSHE
Matt Kruse, EFFPD

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

Micah Salerno, Exec. Officer Admin. Asst.
Contact the NDC Contracted Provider, Voya®: Carson City office


June 17, 2020 8 a.m.
Governor’s Office of Economic Development
808 W. Nye Ln.
Conference Room
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

With 2020 off and running, and the first quarter of the year bringing economic and health crisis challenges, most Nevadans are excited to bring in the Spring and Summer months. NDC continues working hard to bring the most value to participants, and develop and sponsor many exciting educational opportunities to assist employees with their Journey to and Through Retirement.

Retirement Reform — SECURE Act and CARES Act: What’s on the Horizon?

With the passage of the SECURE Act in December 2019, and the passage and implementation of the CARES Act stimulus near the end of the first quarter of 2020, the NDC Committee is evaluating what effects these two pieces of legislation may or may not have on Program management. This includes choosing to elect to adopt some or all of optional provisions included in the legislation. In the upcoming months, the NDC Committee and Administration will be evaluating what provisions, if any, we may consider amending into our current Plan design. Items we will be considering are:

  • A new allowable in-service, penalty free distribution option that would allow a NDC participant to take up to a $5,000 distribution for the birth and/or legal adoption of a child.
  • Decreasing the current age limit of 70½ for inservice distributions to a newly allowed age of 59½ for governmental 457(b) plans.
  • Allowing for an in-plan distribution if you meet COVID-19 eligibility criteria.
  • A new optional loan change provision to assist those in financial hardship due to COVID-19.

Mandatory changes that have been implemented as a result of the passage of the SECURE Act is that the Required Minimum Distribution (RMD) age has changed from 70½ to 72 years of age. With the passage of the CARES Act, the RMD requirement for 2020 has been waived for those that have not already distributed their RMD for the 2020 calendar tax year.

As fiduciaries to the Plan and prior to implementing optional changes, NDC will always analyze what is going to be in the collective best interest of participants in the Program with the goal of attempting to benefit 100% of participants. If the NDC Administration elects to make changes or enhancements to the Program, we will work quickly to communicate the changes to our participant and eligible employee base.

Investment Consultant Services RFP Completed

The NDC Administration and State Purchasing Division have concluded the Plan’s Investment Consulting Services Request for Proposal (RFP) solicitation. An Evaluation Committee organized by State Purchasing evaluated proposals from five different vendors that met the minimum qualification criteria in the solicitation, and the Hyas Group was the highest scoring vendor. The NDC Committee took action to direct the Executive Officer and State Purchasing to begin contract negotiations with Hyas. Negotiations were successful and a contract has been executed. This contract is slated to be heard and approved on the May 14th BOE meeting, with a June 1, 2020 contract start date.

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

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Pay Student Loan Debt or Save for Retirement?
It depends.

Paying student loan debt?

Paying down student debt first before you start saving for the future may be the most helpful because it could help reduce stress, but remember that all loans are not created equal.

Most federal loans have lower interest rates, meaning it won’t cost you as much in interest to take longer to pay off your loans, which means you can start saving for retirement sooner.

If you have a higher interest rate personal student loan, it may make sense to pay this down faster and make smaller contributions to your retirement plan in the meantime.¹

What about saving for retirement?

The sooner you can save, the longer you can take advantage of potential compounding interest on savings that can help add up over time.

Saving pre-tax money impacts your net pay by less than you think. For example, saving $50 pre-tax per paycheck to your NDC account impacts your net paycheck by only $36.2

The bottom line is, getting an education was an important investment in yourself and loans from it are often just a part of life. But so is saving for retirement, even if it’s just a little bit now. Whatever you do, we want you to feel good about your money, your life, and your future.


¹Should I pay off student loans or save for retirement, Maurie Backman, June 24, 2019, Motley Fool, The Ascent

2Assumes savings are made in a pre-tax account at a 28% tax rate. This hypothetical example is not guaranteed and does not reflect any specific product. Investments are subject to investment risk including the possible loss of principal. The investment return and principal value of the security will fluctuate so that when redeemed, may be worth more of less than the original investment. In addition, these figures do not reflect taxes or any fees, expenses or charges of any investment product.



Register now!
Safeguard your NDC account against ongoing cyber threats by registering your account username and password. You are your own first line of defense when it comes to protecting your account!

Visit and click Login > Register Now to begin the registration process. For more information on Voya’s commitment to customer security, visit


We could all use a little more balance,
your NDC account is no different

As the markets change, the value of each security in your NDC portfolio will increase or decrease at a different rate of return and change the overall weightings of your investments. The result is asset allocations that may no longer match your risk or long-term goals. It may be time to rebalance your account. Periodic review and rebalancing of your investment portfolio can help keep your retirement strategy on track.

Rebalancing in your NDC account means adjusting your individual investment holdings—that is, buying and selling stock and bond funds within the NDC investment lineup—to maintain your established asset allocation percentages and remain consistent. Finding that balance helps maintain your original allocation while keeping your tolerance for risk at its most comfortable level.

Whether there is market volatility or not, it’s a good idea to review the value of your investments regularly so you can know if you need to rebalance at all. This will help you stay balanced and stomach the changes that may occur on your journey to retirement. Your NDC Plan offers auto rebalancing within your account as well, which could help you find your balance and sense of well-being while investing.

If you gain asset value, it’s great. Increases to your investments, however, move your portfolio allocations away from your original strategy. You may find for example, your portfolio is now weighted more heavily in stocks, which may expose you to more risk than intended. One-time or regularly scheduled automatic rebalancing at a frequency you elect helps redistribute the weight and keep your stock and bond assets properly allocated within your portfolio.

Remember, rebalancing doesn’t ensure a profit or protect against a loss in a declining market, but it will help you stick to a strategy that you believe is appropriate for you when markets shift or if your goals change so you can retire well.



How to update your NDC account's beneficiary
You can review or change the beneficiaries for your NDC account any time. Log into Select My Account, then Personal Information, then Beneficiary Information. For the Beneficiary Designation Form, go to

Whoever you name as your beneficiary will receive your NDC account balance in the event of your death. Keep in mind that naming an entity such as a trust or charity (instead of an individual) as your beneficiary may have implications on the IRS required minimum distribution payments to beneficiaries.





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Stick to the plan when markets correct – it’s normal

Stock market growth is great for your retirement savings, but history tells us that it can’t last forever. Market “correction” could happen at any time, but the potential for gains or losses should always be expected as a part of investing. So how do you manage your expectations? Here are some things to keep in mind amid times of uncertainty:

  • Time, not timing, is key. Predicting the market is not like predicting the weather. There are no high-tech gadgets or radar systems to predict how high or low the market will get. Without knowing the exact moment to take action, any decision to sell out of an investment could prove costly.

  • Sticking to your retirement saving plan is important. Your overall investment and retirement planning strategy can help keep you focused and remain invested for long-term market results. However, past performance doesn’t guarantee or predict future returns.

  • Diversification** can help you manage some of your investment risk by mixing a wide variety of investment options within your portfolio, or investing in a “fund of funds” like a target date fund*** can do the diversifying for you. Diversifying your investments can help reduce the impact of any one security on your overall portfolio performance.

  • One way to diversify your assets is through asset allocation.** This is the process of dividing a portfolio among investment asset categories like stocks, bonds, and cash. Asset allocation can also help reduce risk because it keeps you from putting all of your “eggs” in one basket.

While it’s important to be aware of what the market is doing, keep in mind that fluctuation is normal and should be expected. Sticking to your plan and your long-term goals can help you stay on course as you work toward your retirement objectives.

The Penalty for Missing the Market

Trying to time the market can be an inexact – and costly – excercise.* This chart illustrates a return on a lump sum investment of $10,000 invested in the S&P 500 Index from January 22, 1985 to January 21, 2015.

Period of Investment Average Annual Total Return Growth of $10,000
Fully Invested
8.51% $115,804
Missing the 5 best days 6.95% $75,000
Missing the 10 best days 5.09% $55,881
Missing the 15 best days 5.01% $43,336
Missing the 20 best days 4.19% $34,212

Past performance is no guarantee of future results. Performance shown is historical index performance and not illustrative of any specific funds’ Performance. This is a hypothetical example used for illustrative purposes only. The return figures are based on a hypothetical $10,000 investment in the S&P 500 Index from January 22, 1985 - January 21, 2015. The lump sum investment in common stocks would have reflected the same stocks/weightings as represented in the S&P 500 Index. The example does not represent or project the actual performance of any security, or other investment product. The hypothetical figures do not reflect the impact of any commissions, fees or taxes applicable to an actual investment. The S&P 500®Index is an unmanaged, market capitalization-weighted index of 500 widely held U.S. stocks recognized by investors to be representative of the stock market in general. It is provided to represent the investment environment existing for the time period shown. The returns shown do not reflect the actual cost of investing in the instruments that comprise it. You cannot invest in an index. Standard & Poor’s and S&P 500 are trademarks of the McGraw-Hill Companies, Inc.

*Source: Commodity Systems, Inc. (CSI) via Yahoo Finance





Simplifying investment concepts

Unless you’re a financial professional, financial terms can be confusing to understand. Take asset allocation and diversification, for example. While they are often used together when investing, they are distinct and different.

What is asset allocation?

  • Three major types of asset classes (or investment categories) - stocks, bonds and cash - combine to make up 100% of your investment portfolio.

  • Think of Asset Allocation as an investment portfolio technique that aims to balance risk ‘Across’ stocks, bonds and cash. That’s because each class has its own levels of risk and will behave differently over time.

  • Your asset allocation will be based on factors such as when you want to retire, how much retirement income you will likely need and what level of investment risk you can handle. For example, early career investors with many years to retire could be more aggressive and allocate a higher risk stock-heavy mix of investments. However, it would make more sense for those in retirement and relying on their retirement savings for income to preserve capital with a more conservative mix of more bonds and cash than stocks.

What is diversification?

  • Diversification is more of a ‘Deep Dive’ within an investment category while maintaining balance.

  • Let’s say you wanted to take on some investment risk in stocks. To diversify within the stock category, you would invest in a variety of different types (domestic, foreign, large-cap, mid-cap, etc.) to spread the investment risk across a number of investments instead of investing it all in one fund.

Asset allocation and diversification neither assures nor guarantees better performance and cannot protect against loss in declining markets or better performance, but it is a well-recognized risk management strategy.

Still not sure? A financial professional can review your investment strategy to help make a plan that is right for you. Remember, it’s never too late to get your financial life in order.



Questions about your distribution options?

We can review your distribution options, discuss consolidating all of your retirement plan accounts, and answer questions about the Plan and your account.

For assistance and support, please contact Voya at 866-464-6832 or 775-886-2400.

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Actions you can take to help you navigate today and keep saving for tomorrow

Feeling anxious and unsure about the future? The world has proven to be unpredictable the last few weeks and even though many of us may be worried about the short-term, it’s important to not lose sight of your future. Here are some suggestions and resources to help you navigate today’s uncertainty and plan for your tomorrow.

  1. Stick to your plan. Market volatility happens, and it may happen even more than you think. Information is available at from NDC’s contracted recordkeeper, Voya Financial®, about why it’s important to stay invested.

  2. Continue to save for retirement in your NDC account with dollar cost averaging. Dollar cost averaging is a system for investing a fixed amount of money at regular intervals over a period of time, in an effort to reduce market timing risk. It means investing smaller amounts of money in the market at regular intervals rather than large amounts all at once. Dollar cost averaging does not ensure a profit or guarantee against loss in declining markets. Investors should consider their financial ability to continue their purchases through periods of low price levels.

  3. Educate yourself. Market volatility can feel even more overwhelming when you don’t know how navigate the uncertainty. Visit for information to help you stay informed and on track for retirement.

  4. Create and stick to your budget. Having a plan for your finances is a great way to get organized and feel in control. Visit to sign up for a live session on saving and spending. You can also sign up for any of the other webinars to help you on your journey to financial wellness.


THE DEFERRED WORD   |  First Quarter 2020

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    |


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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