In This Issue
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Coming Soon in Early July:
The Adventure Begins!
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The
ICMA-RC RealizeRetirement
®
Adventure Tour:
- You will follow clues to slow the train down and keep your trip, "on track."
- A fully immersive public sector escape game with a mix of financial education - is all about fun ways to think about your future.
Play the Digital Hidden Objects Game
Find all the items to help build retirement security and learn some key tips to keep your retirement plans "on track."
Who knew your future self could have so much fun?
Skydiving, traveling to Europe, or just staying home and rocking out are all things you might be doing later on in your life...
Learn more at the ICMA-RC Info Booth
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Whether you are saving in the 401(a) Retirement Plan or the 457(b) Deferred Compensation Plan, you get to decide where and how to invest your savings in each plan. How do you decide? Begin by asking yourself, "What is my tolerance for risk?" You may have time to weather the stock market's ups and downs, or you may be nearing retirement and thinking more conservatively. Either way, you are more likely to stick with a plan if it reflects your risk comfort level.
Once you have identified your risk tolerance, it is time to think about your mix of investments. If you are years away from your anticipated retirement, you may choose to include some stock funds in your portfolio. On the other hand, if you take on too much risk, the money you have been counting on may not be there when you need it, especially if you are quickly approaching retirement.
For many people, a simple approach will work best. Selecting a Target Date Fund that matches the year you plan to retire may be all you need. If you are a more hands-on investor, you can also "do-it-yourself" and build your own mix of investments. You will find a broad range of investment options for building and managing diversified fund portfolios for your account(s). Learn more.
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When it comes to preparing for your future, there is no time like the present. Here are some tips to help keep you on course for a more successful, sustainable retirement -- no matter how old you are.
- Start chipping away at any student loan or credit card debt. The sooner you can pay off high interest loans, the more you will be able to save long term.
- Enroll in your 457(b) Deferred Compensation Plan. Remember time is your best asset. The sooner you begin saving, the more time your earnings have to generate more earnings. This is called compounding.
- Increase contributions to your 457(b) Deferred Compensation Plan as your income grows. Consider adding a portion of your pay raises or bonuses to your retirement savings.
- Review and update your retirement plans to make sure you know how much you should be saving and ensure your investment and asset allocation strategy is aligned with your goals. Log in to your account(s) at DCRetire.com.
- Starting at age 50, take advantage of catch-up contributions to your 457(b) Deferred Compensation Plan. You can save an additional $6,000 for 2018.
Enrolling or saving more is simple. Take action on PeopleSoft at http://ess.dc.gov
. PeopleSoft provides District employees online access to their personal and benefits information. Please follow the steps below to enroll or increase your contribution.
- Select Self Service, then Benefits on the Navigation Bar.
- Select the subcategory Benefits Summary, and then click on Section 457.
- Select Edit to change your contribution amount
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ICMA-RC
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