The New York Stock Exchange will be closed on Thursday, November 26, 2015 and will close early at 12:00 p.m. Central Time (CT) on Friday, November 27, 2015 in observance of Thanksgiving. Consequently, transactions will not be processed on Thursday, November 26 or after 12 p.m. CT on Friday, November 27. Transactions submitted via Account Access after 12 p.m. on Friday, November 27, will be processed as of the close of business on Monday, November 30. If you need assistance, please select the Contact Us option from any page within Account Access. The local Plan office will also be closed on Thursday, November 26 and Friday, November 27, but Investor Services staff will be available to assist you over the phone from 7:30 a.m. to 5:00 p.m. CT on Friday, November 27. The Call Center will reopen at 7:30 a.m. CT on Monday, November 30.
Have an enjoyable holiday weekend.
Spending long hours outdoors this month? See what the Missouri wilderness can teach you about retirement savings in the November edition of the DC Update. Plus, don't forget you can access your deferred compensation plan account at any time, from (almost) any location on your mobile device.
View the November DC Update
Fall is a busy time in the workplace as you enroll for next year's benefits. As you're looking over your situation and considering how to best protect yourself and loved ones, don't forget to designate a beneficiary for your retirement savings account. While it's often an overlooked account management step, designating a beneficiary is arguably one of the most important decisions you will make. Your designation will ensure that your savings will be transferred to the proper parties should something happen to you. Without a beneficiary designation, a probate court could ultimately decide how your money will be distributed, costing your loved ones time, heartache and possibly money.
Next Steps: Designating a Beneficiary Online
Pension plan contribution limitations will not change for 2016 because the increase in the cost-of-living index did not meet the statutory thresholds that trigger their adjustment. Below are the contribution limits for the 2016 tax year.
|Maximum Annual Deferral – under age 50
|Age 50 and Over Catch-up Provision Limit
|Pre-Retirement Catch-up Provision Limit
While contribution limits did not change, there was an increase to the adjusted gross income (AGI) limits for the saver’s credit, which is for low- and moderate-income workers. The new limits will be $61,500 for married couples filing jointly, up from $61,000; $46,125 for heads of household, up from $45,750; and $30,750 for married individuals filing separately and for singles, up from $30,500.
National Retirement Security Week encourages workers to focus on their financial futures. To celebrate the occasion, Missouri employees are
jumping on the We Rep-Percent Savings bandwagon. Join the movement today.