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Nurture Your Retirement Savings
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Save More with Your 457(b) Deferred Compensation Plan
The 457(b) Plan is one piece of your retirement program designed to supplement your retirement savings. While a pension and/or Social Security can go a long way, they might not be enough. Saving to your 457(b) plan can help you maintain your desired standard of living.
Benefits of enrolling in the 457(b) Plan include: - Pre-tax contributions: pay less in income taxes now!
- A wide range of investment options to suit your preferences and goals, including a self-directed brokerage window
- Quarterly statements; sign up for e-Delivery to electronically receive these.
- Click Self Service, then Benefits and Benefits Summary.
- Click Section 457.
- Select Edit to change your contribution amount.
Gardening Tools
Contact ICMA-RC 1 (800) 669-7400 ICMA-RC
77 K Street, NE, 8th Floor
Washington, DC 20001
(202) 759-7190 Judiciary Square
441 4th Street, NW, Suite 340N
Washington, DC 20001
(202) 442-9749 or (202) 442-9640 |
Spring-Clean Your Retirement Routine
It's a good time to do maintenance on your 401(a) and 457(b) Plan accounts.
Lucky You! The District provides a 401(a) Retirement Planfor its employees first hired after October 1, 1987 (except for police, fire, and teachers). Contributions are made by the District to an account in your name for the benefit of you and your beneficiaries. The 401(a) Retirement Plan is one part of a retirement program that includes Social Security and the 457(b) Plan. - Check in to make sure you're enrolled in the correct retirement plan. There's a 401(a) Plan and a 457(b) Plan for DC employees, and separate 401(a) and 457(b) plans for UMC employees. Review your Official Personnel File (OPF) annually with your HR advisor to determine all years of service are included.
- Review your quarterly account statement, which you should have received by mail or e-Delivery.
- Log into your account at www.dcretire.com to make sure your beneficiary information is up-to-date for both plans.
- Your marital status must be current in order for you to designate your beneficiaries. To provide or update your information, contact your Benefits Department. Once the update is completed, you may update your beneficiary information.
- While logged in, make sure you have a well-balanced mix of investments in both your 401(a) and 457(b) Plans.
- Questions about your investments? Register online for a one-on-one appointment with your local plan representative or a group education seminar.
- Remember: The District nourishes your retirement plan by automatically contributing money to your 401(a) plan after 12 months of service!
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Passport to Financial Wellness: Join the Excitement!
Get in on the fun of the District's Passport to Financial Wellness Program, which helps you learn more about your District of Columbia 457(b) and 401(a) Plans.
How it works: You attend education seminars to earn stamps, four stamps get you a USB charger for your smartphone, plus you're entered into a grand prize drawing for an iPad and Fitbit! Since the program began: - 86 attendees enrolled in the 457(b) Plan using PeopleSoft.
- 25 DC Housing Authority employees enrolled in the 457(b) Plan.
- Additional seminars at PSC were well-attended.
Learn more about the program and find a schedule of upcoming seminars at www.DCRetire.com.
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Your Journey Begins Here
Pick up your Passport to Financial Wellness and take a journey to retirement preparedness. Attend four on-site education seminars and you're eligible for our prize drawing! Learn more.
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Reminder: Review Your OPF
Please annually review your Official Personnel File (OPF) with your HR advisor to determine all years of service are included.
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ICMA-RC Representatives: We're Here to Help
Email:
Phone:
(202) 442-9749 or
(202) 442-9640
If you have general account questions, you may also contact an Investor Services Representative at:
1 (800) 669-7400
*press 0 to speak with a representative
Representatives are available Monday through Friday from 8:30 a.m. to 9:00 p.m. ET.
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