January 23, 2012 DC Update

Released on 01/23/2012 at 12:12 PM

• An Important Message About Fourth Quarter Statements

  Fourth quarter statements are now available to all participants within Account Access under the Statements & Confirms tab. For those who do not have an email address on file, or who have opted out of receiving eDelivery notifications, you will receive your paper statement(s) in the mail soon.

  Here are a few important notes about your fourth quarter statement:

  • In an effort to trim participant costs and be environmentally friendly, those who had an email address on file with the previous record keeper, ING, were enrolled in eDelivery with the new record keeper, ICMA-RC. This means most participants should have received an email prompting them to log on to Account Access to view their quarterly statement(s). The conversion to eDelivery was highlighted in both a transition email and letter sent in late September and early October 2011, respectively. Learn more about eDelivery and your statement delivery options within the Plan Highlights and FAQ sections of the Plan website.
  • An incorrect date range of October 1, 2011 - December 31, 2011 is listed on all statements. In reality, your statement’s starting date is November 8, 2011, when your assets were transferred from ING to ICMA-RC. For performance data before November 8, 2011, consult your closing statement from ING.
  • The "Contributions to Date" line item within the “Contribution Summary” section includes contributions you made to ICMA-RC in November and December, as well as the assets converted from ING to ICMA-RC on November 8, 2011. Therefore, the total dollar amount listed in "Contributions to Date" is incorrect and should not be used as an official 2011 contribution total. Please refer to your payroll records for official 2011 contribution amounts. Consult your closing ING statement to see the amount actually converted to ICMA-RC during the record keeper transition.
    

• Financial Planning Services Now Available to Participants

  The new year is a great time to evaluate your financial situation and make beneficial changes to your savings strategy. Participants in the State of Missouri Deferred Compensation Plan now have access to three levels of financial planning, which includes a free Financial Needs assessment. These financial planning services, provided by the Plan record keeper ICMA-RC, are a secure and easy way to connect with certified financial planning experts. Participants can choose from one of the following three plans:

  The Financial Needs assessment is for early to mid-career individuals who want a quick retirement forecast of their savings needs. It requires minimal time to complete.
  Cost: Free to Plan participants
  
  The Goal-Specific Financial Plan provides a detailed analysis of one or two financial goals you select, including retirement planning, asset allocation, education planning, major purchases and insurance planning.
  Cost: $175 (free to participants who have over $100,000 in total account balances with the Plan)
  
  The Comprehensive Financial Plan looks at several aspects of your overall financial situation. It requires significant effort on your part to provide the information needed to develop a detailed project for you.
  Cost: $450 (free to participants who have over $200,000 in total account balances with the Plan)

  To begin the financial planning process, log on to Account Access at www.modeferredcomp.org and choose Financial Planning under the Planning & Tools tab. Choose the financial Plan that's right for you and click the Proceed button. Once you complete the data form, representatives from ICMA-RC will follow up with you by email with more information.

• Fourth Quarter Newsletter

  The latest Simply Put newsletter is now available. The latest issue includes:

  • Improve Your Finances for 2012
  • 1099-Rs Arriving in January
  • Tapping Accounts in Retirement
  • Market View: Save More or Add Risk?
  • And more...

• Stay Connected With the Plan on Facebook and Twitter

  Participants can now find the State of Missouri Deferred Compensation Plan on both Facebook and Twitter. Whichever you prefer, staying connected with the Plan is a great way to receive timely plan news, valuable savings tips and more.

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