July 2015 DC Update

  • July 9, 2015


Getting There is Half the Fun

With summer vacations in full swing you may be driving in one of these (narrator pointing at a car), or this (narrator on an Tractor), or riding one of these (narrator on a horse) or maybe this (narrator on a jet ski), or even in this (narrator on a motor bike), to get from point A to point B. Wherever you’re going this summer, it never hurts to have one of these to help get you there (narrator holds up a mobile phone with a map). Just like your cross-country adventures, it pays to have a guide to help you reach your retirement destination too. Luckily the deferred compensation plan offers a variety of resources to help you out along your journey:

  • Account Access – as a participant in the deferred compensation plan, your account truly is at your fingertips with our online Account Access portal. Securely view balances and investment performance, designate beneficiaries, transfer funds, change contributions, withdraw assets (for those eligible), register for training, view statements and confirmations, and do much more within this dynamic online system. Easily access your account anytime through the ESS portal or at www.modeferredcomp.org.
  • Education Specialists – situated throughout the state, our local education specialists offer seminars and one-on-one consultations FREE of charge to state employees. These representatives do not earn commissions on the money you contribute to the deferred compensation plan or the investment options you choose inside the plan. This makes them a trusted source of valuable benefit information. See when they’re in your area by clicking the red, “Register for a Seminar or Consultation” button at the top of the deferred compensation plan website. 
  • Pocket Change Seminar – one of those seminars is the Pocket Change financial workshop, which aims to educate early-career employees on the value of the deferred compensation plan and how it works with pension and other employee benefits to meet their savings goals. Other valuable resources covered in this session include budgeting, saving, and investing. Best of all, each attendee will leave this 2-hour session with a personalized roadmap to use as a guide as their career with the state evolves.  
  • RetiremenTrack – Designed specifically for state of Missouri employees, this all-in-one calculator uses your deferred compensation plan balance, expected pension income and personal savings to build a comprehensive retirement forecast. It takes minutes to complete and will give you a quick glance at your savings progress and any changes you can make to improve your future financial outlook. 
  • Informational Webinars – If you’re new to the Plan, preparing to retire, or simply need a refresher, these easy-to-navigate webinars are a quick way to get up to speed on Plan information. They’re also a great training resource for new employee orientations or other group training sessions.  You can find our complete library of webinars on our Education On-Demand page. 
  • Fun and Informative Videos – And finally, you can also browse our vast library of informational videos, including other DC Updates just like this. Plan videos have become an entertaining way for state employees to stay up to date on important information and learn more about saving and investing for retirement. View our full library of content on the deferred compensation plan’s YouTube channel.


Statement & Newsletter Reminder

As a reminder, 2nd quarter statements will soon be available within the Statements and Confirms section of Account Access. It’s recommended that you periodically evaluate your savings progress to make sure you're on track to reach your goals. Quarterly statements include account balance and asset allocation information, performance history, future account balance and income projections, fee and contribution details, and important Plan communication.

Also, don’t forget to check out this quarter’s edition of the Simply Put newsletter. Available within Account Access and on the deferred compensation plan website, this edition defines ‘Asset Allocation’ and ‘Diversification’, explains why every investor should understand these concepts, and illustrates how both are at work in the Plan’s Missouri Target Date Funds.



Retirement IQ Recap

Last month we celebrated Employee Recognition Day with the Retirement IQ Scavenger Hunt, which challenged state employees to find answers to retirement benefit questions. We're excited to report that over 1,000 active state employees submitted scavenger hunt games sheets and were awarded the insulated cooler giveaway. If you are one of those winners and you've yet to receive your giveaway, be on the lookout for an email from your territory's education specialist. The email will detail upcoming drop off locations and times at an agency in your area. Thanks again to everyone who participated in this year's event.



Auto Enrollment Report

We're happy to report that as of June 1, 2015, more than 9,700 state employees have been auto enrolled in the deferred compensation plan.

Please note: Detailed data for agencies with 10 or fewer hires is omitted in this report.

Department Total AE Opt Out Net AE AE Success Rate
State Auditor
19
0
19
100.00%
Office of Administration
259
19
240
92.66%
MOSERS
11
1
10
90.91%
Dept of Corrections
2681
246
2435
90.82%
Labor & Industrial Relations
75
8
67
89.33%
DESE
260
28
232
89.23%
Social Services
1842
207
1635
88.76%
Health & Senior Services
341
41
300
87.98%
Revenue
310
38
272
87.74%
Agriculture
52
7
45
86.54%
Ins, Fin Inst, Prof Reg
76
11
65
85.53%
Transportation
676
100
576
85.21%
Judiciary
680
104
576
84.71%
Conservation
108
17
91
84.26%
Public Safety
1127
180
947
84.03%
Natural Resources
185
30
155
83.78%
Secretary of State
48
8
40
83.33%
Mental Health
1947
357
1590
81.66%
State Public Defender
193
41
152
78.76%
Econ Development
114
25
89
78.07%
Attorney General
109
24
85
77.98%
Legislature
154
43
111
72.08%
Governor's Office
-
-
-
-
Higher Education
-
-
-
-
Highway & Highway Patrol
-
-
-
-
Housing Development Commission
-
-
-
-
Lt. Governor
-
-
-
-
Missouri Consolidated Healthcare
-
-
-
-
State Treasurer
-
-
-
-
TOTALS
11,310
1,543
9,768
86.37%


Stay Connected with the Plan on Facebook, Twitter, LinkedIn and YouTube

Thanks for tuning in to the July video edition of the DC Update. Remember that you can view other informative videos, just like this one, by visiting our YouTube channel. And be sure to also connect with us on Facebook, Twitter, and LinkedIn. Whichever you prefer, connecting with us on social media is a great way to receive important Plan news and valuable savings tips. Until next month, this has been Brooke Rowden with the State of Missouri Deferred Compensation Plan, your smart, simple savings solution.