Find Your Savings Confidence
2023 America Saves Week
Happy America Saves Week! Each day this week, the MO Deferred Comp Plan will be focusing on helping YOU find YOUR savings confidence via educational videos, meeting with your local financial education professional, using our award-winning calculators, taking advantage of the auto increase tool, and increasing your savings contribution. Our goal by the end of America Saves Week is knowing you've gained more confidence towards saving for your future! Follow us for more confidence building education: Facebook, Twitter, Instagram, LinkedIn, and YouTube.
America Saves Week - Day #1:
Watch a MO Deferred Comp Video
Learn more about the state's retirement savings plan by visiting deferred comp's video library, containing over 200 educational and entertaining videos. Start watching now!
America Saves Week - Day #2:
Schedule a Meeting with Your Local Financial Education Professional
The plan's team of education professionals 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. The team also provides various webinars throughout the year. See our Event Registration calendar and save your spot!
America Saves Week - Day #3:
Use a Calculator to Determine Your Retirement Savings Needs
The Grow Your Retirement Savings Calculator is great for early to mid-career employees as it can help estimate your future savings balance at retirement based upon your anticipated years of working and saving. The calculator can also show you what your percent income replacement and annual income in dollars could be based upon your estimated future balance at retirement.
RetiremenTrack is a one-page comprehensive calculator that allows you to see what your defined benefit pension, social security, personal, and retirement savings could provide in income in retirement. You'll be able to see any income shortfalls in retirement and what you can do to alleviate those shortfalls – whether that is by working longer, increasing your current retirement savings contribution, or by utilizing automatic increase.
America Saves Week - Day #4:
Sign up for Automatic 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 about automatic increase.
America Saves Week - Day #5:
Increase Your Contribution & Take FULL Advantage of the State Match
If you contribute at least $25 a month to your MO Deferred Comp account, the State of Missouri will match your contributions dollar-for-dollar up to a maximum of $75 each month.* As a state of Missouri employee, those additional dollars saved can make a significant impact on your future retirement income. To make adjustments to your contribution amount, read the How to Change Your Contribution flyer. If you are not contributing to MO Deferred Comp, you'll first need to Set Up Your Online Access and then you will be able to start/change your deferred comp contribution.
*For active part-time or full-time state agency employees. The match is funded by the State of Missouri and is subject to the approval of the state’s annual budget. College and university employees are not eligible.