Take Control of Your Future

2020 National Retirement Security Month

National Retirement Security Month has officially begun! During each week in the month of October, the MO Deferred Comp Plan will be focusing on areas such as understanding investment principles, budgeting, calculating your retirement savings needs, and more. In addition, at the beginning of every week we will provide you with a checklist of items to complete. Every task you check off will help you reflect on your personal financial situation, increase your financial knowledge, and learn more about the state’s retirement savings plan. Be sure to like, follow, or subscribe to our social media channels, check your emails for important plan news, and join Mobile Text alerts by texting MODC to 31996 to ensure you do not miss out on this year’s National Retirement Security Month campaign.

Week #1 Checklist:

  • Register & attend a MO Deferred Comp webinar.
    Bonus: Webinars can count toward your eLearning goals!
  • Watch at least 5 MO Deferred Comp videos found on www.modeferredcomp.org
    The plan has created over 100 short videos to help you learn more about the state’s retirement savings option. Start watching now!
  • Schedule a one-on-one appointment with a deferred comp education specialist.
    The plan’s team of education specialists can help answer your retirement savings questions, establish your savings goals, review your account or enroll in the plan, educate you on the plan’s investment options, discuss your individual retirement strategy, and more.
  • Browse through the FAQ section on the plan’s website.
    Here you’ll find answers to common deferred comp questions. If you need additional help, contact your local education specialist.

Week #2 Checklist:

  • Download a budgeting app for your smartphone.
    A budgeting app on your phone is convenient and easy to update while on the go!
  • Make a list of your expenses.
    This might hurt a little, but a major step in budgeting is understanding where your money is going. You can do it!
  • Review your paystub!
    Read the fourth quarter 2017 Simply Put Newsletter for information on common state employee paycheck withholdings.
  • Complete a budgeting worksheet.
    Keep an eye out! The MO Deferred Comp Plan will be sharing a simple budgeting worksheet. Stay tuned!

Week #3 Checklist:

  • Watch one of deferred comp's four calculator videos.
    The MO Deferred Comp Plan walks you through how to use each calculator, as well as explains the benefits of each tool.
  • Use either the Grow Your Retirement Savings or RetiremenTrack calculators to determine your retirement savings needs.
    The Grow Your Retirement Savings calculator is great for early to mid-career employees, while RetiremenTrack creates an eye-opening retirement income estimate for employees of all ages.
  • Learn more about the cost of investing in deferred comp's latest newsletter.
    It costs money to save money, but just how much are you exactly paying? Deferred comp breaks down your fees and costs in their most recent Simply Put newsletter.
  • Envision your retirement lifestyle. Dream big and make a plan to reach those goals!
    If you know what your retirement dream looks like, share it with us on Facebook. A random prize winner will be selected out of those who participate.

Week #4 Checklist:

  • Review your MO Deferred Comp statement(s).
    To find your past account statements, log in to Account Access, click Access My Accounts in the main menu, then choose Statements & Confirms from the side menu on the left. If you have retirement accounts outside of deferred comp, we recommend reviewing those as well!
  • Start saving with auto-increase!
    The auto-increase tool allows you to increase your deferred comp contribution each year by as little as one-tenth of one percent or five dollars. It’s an effective tool to help you grow your retirement savings balance throughout your career. Learn more at https://modeferredcomp.org/videos/autoincreaseexplained.html.
  • Schedule a one-on-one appointment with a deferred comp education specialist.
    Are you on track to meet your retirement income needs? Schedule a meeting with your local education specialist. He or she can help you evaluate your savings strategy and make any needed changes.
  • ICYMI: Watch the latest DC Update about how presidential elections can impact market performance.
    If the presidential election has you feeling a bit uneasy about your retirement savings and investing strategy, this DC Update has just the information to help calm your nerves.
    NOTE: Past performance does NOT guarantee future results.