What's New?

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

NDC core investments: Our selection and oversight process

NDC Participants often wonder how the NDC Administration selects the investment options in our core investment lineup. Our rigorous selection process is stated and detailed in the NDC Investment Policy. The policy guides the NDC Committee and Executive Officer, with the assistance and guidance of our contracted investment consultant, to assist in selecting well managed and cost-effective investment options in a particular investment category or asset class. Our investment consultant conducts research and provides data to the NDC Committee and Administration which is reviewed, discussed, and evaluated by the NDC Committee in an open public meeting. The NDC Committee then decides what changes would be the most cost effective and beneficial option(s) for NDC participants. On a regular basis, the NDC investment consultant and Executive Officer evaluate how the core investment options are performing. In our Investment Policy, we have adopted various benchmarking criteria that we use to evaluate the performance and management of each investment option. If an investment falls short of our established evaluation criteria, the fund is placed under more extensive review, may be formally placed on our watch list, and may be eventually replaced with a more suitable investment option. Additionally, the NDC Committee and Administration constantly reviews and monitors investments to keep costs as low as possible. The NDC Executive Officer regularly works with our investment consultant to identify different investment classes that may present more affordability, which passes the savings onto our participants. With this review and oversight process, we strive to provide NDC participants with well managed investment options, at the lowest cost available, and the best interest earning potential.

Join us for a Nevada Saves Month webinar

Each Fall, the NDC Program hosts workshops during Nevada Saves Month, our version of October’s National Retirement Security Month. This year, we invite all government employees and their families to attend live webinars on Microsoft Teams to help improve their overall financial security now and into retirement. This year’s schedule of presentations, offered between October 16th – 19th, is detailed in this edition of The Deferred Word. Mark your calendars now. We hope you can join us!

Exciting news about the NDC Committee

We are pleased to announce that Samantha Jayme, who serves in the DHHS-ADS Division, has been appointed to serve on the NDC Committee by Governor Lombardo. Samantha will bring a great generational perspective and insight to the Committee, and we look forward to her participation. We would also like to recognize Suzie Chang (GCB), Matt Kruse (East Fork Fire PD), and Dr. Kent Ervin (NSHE) for their service on the NDC Committee. Ms. Chang served NDC for more than two years. Battalion Chief Kruse and Dr. Ervin served on the NDC Committee for nearly eight years and played an instrumental part in making the NDC Program what it is today. We commend each of these valued members of the NDC Committee. Thank you for your service and dedication to the NDC Program, and all the best to you in retirement.

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

October is Nevada Saves Month

The NDC Program and our contracted recordkeeper, Voya Financial^®, celebrate Nevada Saves Month every October to help State employees become well planned, well invested and well protected. This year’s theme, Dollars and Sense, focuses on just some of the ways that you can do more with your finances while you earn more.

So, what can you do in the moment to help improve your financial outlook?

• Spend less than you earn each month. If you need help with budgeting, visit voya.com/tool/budget-calculator to balance your needs and wants.
• Find ways to save more money (no amount is too small) and save consistently. This includes saving for retirement and other personal goals.
• Set short and long-term financial goals for yourself and your family, as well as actionable steps to achieve them. Celebrate the little victories along the way too.
• Get help when you need it. Ask questions and talk to professionals who understand your taxes, finances, and investment portfolio.

Take a moment to review what you are doing for retirement, so you can provide yourself a silver lining in your golden years. The confidence and greater sense of well-being you have with a financial plan in place may result in a happier and more fulfilling life today and in the future. Start by visiting defcomp.nv.gov and go to Resources to take a financial wellness assessment that measures some key areas where you currently use your dollars and help make sense of it all. If you’re a NDC participant, visit nevada.beready2retire.com to log into your account and click Financial Wellness at the top of the homepage for a more detailed version of the assessment. Thank you for giving us the opportunity to assist you on your journey to and through retirement.

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.

Join us for a retirement planning webinar during Nevada Saves Month

All eligible non-participating employees, NDC participants, and their families are invited to attend any of our Nevada Saves Month webinars. The live webinars will be available through Microsoft Teams Enter the Meeting ID to join through Teams (go to Calendar > # Join with an ID) or call (775) 321-6111 and enter the Phone Conference ID to attend a session by phone. We hope to see you there.

Get To Know Your NDC Account: Tools & Demonstration

October 16 at 1:00 pm
Meeting ID: 297 248 358 653
Phone Conference ID: 945 358 101

October 17 at 11:00 am
Meeting ID: 264 560 750 145
Phone Conference ID: 160 001 63

For all audiences. Join us to learn the basics of the NDC Program, how to enroll, how to register your account online, how to use online tools and resources, making changes to your account, and more.

NDC Basics & Beyond

October 16 at 11:00 am
Meeting ID: 287 169 763 123
Phone Conference ID: 571 519 787

October 18 at 1:00 pm
Meeting ID: 243 484 434 016
Phone Conference ID: 185 525 04

For all audiences. Join us to learn about the NDC Program, the responsibilities of the NDC Committee and Administrative Office, how much you’ll need to retire, how much you should save for retirement, Plan features, managing your account, and more.

Retiring Minds Want to Know

October 17 at 9:00 am
Meeting ID: 282 290 469 275
Phone Conference ID: 437 917 942

October 19 at 10:00 am
Meeting ID: 213 113 834 261
Phone Conference ID: 359 812 333

For NDC participants who are within 10 years of retirement. Join us to learn how to use NDC account tools to estimate your NVPERS pension, Social Security, and healthcare costs in retirement. You’ll also learn how to utilize your savings in the years leading up to retirement, how to manage your investments to and through retirement, and the distribution options from your NDC account.

Purchasing Service Credit in NVPERS with NDC Assets

October 17 at 3:00 pm
Meeting ID: 272 744 799 988
Phone Conference ID: 102 111 544

October 18 at 11:00 am
Meeting ID: 291 849 179 507
Phone Conference ID: 938 117 662

For NDC participants who are members of the Nevada Public Employees’ Retirement System (NVPERS). Join us to learn how to use your NDC funds to purchase service credits including who to contact, what forms to request, how to complete the forms, submitting forms for processing, distributing funds once the request is processed, and more.

Getting to Know the NDC Investment Advice Tools

October 18 at 3:00 pm
Meeting ID: 236 033 212 046
Phone Conference ID: 571 690 776

October 19 at 1:00 pm
Meeting ID: 241 355 879 71
Phone Conference ID: 868 890 226

For all NDC participants. Join us for a tour of the NDC’s online investment advice tools. You'll also learn the steps to change your current and future investment allocations in your secure online NDC account.

Meet Ozzie and Chloe, who first enjoyed a pup cup and now the cup itself, submitted by Terri Russ. Send your pet pictures (include names too) to deferredcomp@defcomp.nv.gov

Make your New Year's plans now.

Before the holiday rush begins, take time to check in on your financial health

As we approach the end of 2023, it’s time to celebrate how far you’ve come financially and look ahead to where you are going next. Here are some things to consider so you can become more financially well.

Review your investments. Are your investment choices still properly allocated and aligned with your long-term financial goals? If the volatile markets of the last few years have disrupted your asset allocation, consider if you need to rebalance your investments to reflect your risk preference and time horizon for investing.

Check to see how much you’ve contributed this year for retirement. The IRS establishes retirement plan contribution limits each year. Look at what you’ve contributed so far, determine how much more you’re on track to contribute this year, and consider saving more with your remaining paychecks in 2023 to maximize your savings.

Simplify your financial life. If you’re like many Americans, you may still have retirement accounts from previous employers. Are you paying as much attention to those accounts as the one you’re currently contributing to? Review your options and consider if consolidating those old accounts into your current retirement savings plan aligns with your future goals. Please carefully consider the benefits of existing and potentially new retirement accounts and any differences in features. Please note that 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.

Keep your account updated. For all your financial accounts, it’s a good idea to check your personal information at least annually. Make sure that your mailing address, email address, and your beneficiary designations on file are current and up to date.

Local financial professionals from NDC’s contracted recordkeeper, Voya Financial^®, can help review your asset allocation, retirement savings, NDC account details, and consolidation options. Visit nvdeferredcomp.timetap.com to schedule a no-cost appointment at a date and time that’s convenient for you. To learn more about how to improve your financial health for 2024 and beyond, visit voya.com/voyalearn.

Be cybersafe

Did you know that 95% of cybersecurity breaches are caused by human error?¹.

October is not only Nevada Saves Month, but also Cybersecurity Awareness Month. We want to help you navigate and embrace technology without worry. Account protection is a team sport. NDC and Voya are committed to safeguarding your NDC account and personal information from the risk of fraud, cyber threats and unauthorized activity - whether they’re conducted through email, text, phone, mail or on social media.

What can you do to be cybersafe? Consider the following tips and best practices that you can use to better safeguard your account.

Register your NDC account at nevada.beready2retire.com and monitor it regularly. When you log into your NDC account regularly, you’ll be able to better identify if there has been any fraudulent activity. When reviewing your account, make sure to check for account changes or transactions that you did not authorize. Make it a habit to review all of your financial accounts regularly as well.

Safeguard your devices. Prying eyes can be anywhere. It’s always a good idea to lock your computer and cellphone screens, shield yourself when entering passwords in public places, and never leave your devices unattended. Consider a camera cover for your laptop and refrain from using public wi-fi to log into your financial accounts on unsecured networks.

Install software updates. Be sure to reboot your devices every evening and make software updates when prompted to help keep devices and apps secure.

Secure your home network. Lock down your home network with updated firmware installed for wi-fi routers, switches, cable modems and firewalls. Create a strong password and regularly change it to help protect your router or cable modem.

Protect your passwords. Use strong, unique passwords for each of your devices. Refrain from creating passwords with personal names or birthdates² in them and avoid auto-saving passwords on your devices. Keep your passwords private and, if you must keep them written down, make sure your passwords are kept somewhere that only people you trust can access them.

There are even more ways to protect your devices and your data from fraud, cyber threats and other unauthorized activity. Visit voya.com/blog/8-ways-stay-cybersafe to learn more about the 8 ways to be cybersafe and then visit voya.com/page/cybersecurity-mobile-devices-and-apps to watch the Voya Learn^® on-demand session on cybersecurity. We can safely say that you’ll be glad you did.

Sources:
¹ Cybernews, World Economic Forum finds that 95% of cybersecurity incidents occur due to human error, January 18, 2022, Anna Zhadan, last accessed June 6, 2023²
² Voya Financial, blog.voya.com, consumer article, 8 ways to stay Cybersafe | Voya.com, last accessed June 7, 2023

THE DEFERRED WORD   |  Third Quarter 2023

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

Plan administrative services are provided by Voya Institutional Plan Services, LLC (VIPS). VIPS is a member of the Voya^® family of companies and is not affiliated with the State of Nevada Public Employees’ Deferred Compensation Program.

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