Fund Your Future with DRS

Ep 32 - How interruptive military service can add to your retirement credit

New legislation allows some employees to earn retirement service credit if their employment was interrupted by service in the US Military. Find out how this can increase your retirement benefit and why you shouldn't wait more than five years to report it. 

Ep 31 - PEBB and Medicare overview

As a retired public employee, you have access to insurance options through the Public Employees Benefits Board (PEBB). And when you retire at age 65 or more, you're required to enroll in Medicare. Find out more about Medicare and what options you have for a PEBB retiree health plan. Our guest is Ellen, from the Washington State Health Care Authority.

Ep 30 - How fewer deductions in retirement can help

Is your pension benefit taxed? The short answer is: yes. But there are a lot fewer deductions taken out of your pay in retirement. When you retire, you're no longer paying into programs like Medicare and FICA which could result in you seeing more money.

Ep 29 - Women and retirement

When it comes to preparing for retirement, women often face different challenges than men. Women tend to live longer but typically earn 21% less, often with fewer years of work due to caring for a child or elderly parent. Our guest is Catherine, a DRS team member who gives some insight on how women can be better prepared both financially and socially.

Ep 28 - Divorce and your pension

Upon divorce or separation, your monthly benefit is not subject to sharing or division unless it is court-ordered. If you are going though a separation, you can call DRS to find out what resources are available to you. Our guest is Kumano, a DRS team member who talks about common mistakes and misconceptions that can happen in this process.

Ep 27 - What you need to know about HCA healthcare for 2024

Deciding on healthcare can be one of the most important decisions you make — both when you're working and when you're a retiree on Medicare. Luckily, you have the option to change your plan during each fall open enrollment period. In 2024, costs for plans are changing. It's important to see if your current plan is still right for you. Our guest on the show is Dave from the Health Care Authority, who explains how these plans are structured and what you need to know.

Ep 26 - Save on healthcare costs with HSAs

We continue to explore programs that can help you pay for medical expenses with pretax money. A Health Savings Account (HSA) has a higher deductible but has advantages for those with lower medical expenses. Our guest is Leanna from the Health Care Authority, who talks about the pros and cons of the program.

Ep 25 - Save on healthcare costs with FSA and DCAP

Paying for healthcare can be expensive, but there is help. Flexible Spending Arrangements (FSA) and the Dependent Care Assistance Program (DCAP) allow you to set aside pretax money from your paycheck to help pay for qualifying medical expenses.
Our guest on the show is Kelsie from the Health Care Authority who explains the benefits of these programs.

Ep 24 - A Roth option for DCP

The Deferred Compensation Program now offers pretax and Roth options. Both help you save more for retirement. We look at the difference between the two as well as your options for converting funds from pretax to Roth.

Ep 23 - The importance of service credit

The amount of service credit you have has a direct impact to your retirement benefit. So, if you miss some credits because of maternity/paternity leave, National Guard service or taking a sabbatical, you have the option to restore that credit. In this episode, we discuss how service credit is accrued, how it affects your pension and how to see if you have missing credits.