Season's greetings from MO Deferred Comp!
The deferred comp team would like to wish you Happy Holidays and a very Happy New Year.
To help you focus on the more important things in life, we’ve developed the Automatic Increase Tool. This tool automatically increases your retirement savings contributions each year by an amount of your choice. It allows you to build a better retirement savings balance without the hassle and stress of constantly reevaluating your savings strategy. This holiday season, give yourself something beyond material goods; give yourself the gift of retirement savings.
What is Automatic Increase?
The Automatic Increase Tool automatically increases your retirement savings contributions each year. Your paycheck contributions will gradually increase by the amount you choose in the same month each year with no additional action required from you. Your auto increase amount can be as low as 0.1% or $5.
1 Assumes a starting savings balance of zero, a 1% semi-monthly starting contribution, 6% annual return and 1.5% average annual salary increases while employed. Monthly compounding.
Start saving with Automatic Increase!
To begin using the Automatic Increase Tool, log in to Account Access via www.modeferredcomp.org or the ESS Portal and navigate to the Contributions page or call 800-392-0925 to request your increase. Saving for retirement has never been so easy!
2 Assumes a starting savings balance of zero, starting contribution of $50 a month and 6% annual return while employed. Monthly compounding.