Fund Your Future with DRS

Planning a trip outside Washington? If you’re retired and have PEBB retiree insurance, there are a few things you’ll want to know before your trip. We chat with Laura from the Washington State Health Care Authority about how your coverage works when you’re traveling and what you can do to prepare. Find out how to make sure you’re covered while you’re away.

Medicare doesn't cover every health care expense, but the PEBB retiree insurance can help fill some of the gaps. Additional benefits can include chiropractic care, massage therapy, physical therapy, vision, hearing and naturopathic care. Tune in to find out how to make the most of your coverage.
More information: https://www.hca.wa.gov/employee-retiree-benefits

There are a lot of ways to save for retirement, including pretax and Roth contributions, IRAs, and Washington’s Deferred Compensation Program (DCP), also known as a 457 plan. In this episode, we break down the differences, explain tax and withdrawal rules, required minimum distributions, contribution and income limits, and rollovers. We also share practical strategies, like automating your contributions and how to build flexibility into your retirement plan.

What is the Demographic Experience Study and how does it influence Washington State pensions? We sit down with Frank, one of the actuaries who worked on the study. Turns out, there were small shifts in male and female life expectancy and a trend toward later retirements for many eligible workers. We'll explain what those findings mean and how they're used to ensure pension funding stays on track.
View the survey: 2019-2023 Demographic Experience Study

Retiring before age 65 is a goal for many people, and this summer DRS accounting team member Tracie is doing just that. She shares the steps she took to prepare, including creating retirement estimates, paying off debt and using her DCP savings to purchase an annuity. Tracie also discusses health insurance options, coordinating retirement timing with her spouse and what she's looking forward to most as she settles into a new retirement routine.

Balancing student loans, saving for your child’s education and planning for retirement isn’t easy, but it’s a challenge many parents face. Jacob talks about navigating those competing priorities and the lessons he’s learned while trying to find the right financial balance. He also reflects on his new position as the Executive Director of The Law Enforcement Officers' and Fire Fighters' (LEOFF) Plan 2 Retirement Board.