Fund Your Future with DRS

Ep 19 - How SHIBA helps with Medicare questions

Some of the biggest decisions you'll make in retirement are around your health care. Luckily, the Statewide Health Insurance Benefits Advisors (SHIBA) offer a free, unbiased service. Our guest Tim, explains how SHIBA volunteers help people of all ages and backgrounds with their Medicare questions and options.

Ep 18 - Student loan forgiveness and PSLF

Paying off student loan debt can be challenging, but there's help. PSLF (Public Service Loan Forgiveness) is a program that can help you with debt. If you have federal student loans, you may be eligible to have those loans forgiven.
 
Our guest is Jessica from the Washington Student Achievement Council (WSAC) with the PSLF program. She talks about how to qualify for loan forgiveness and common mistakes people make when applying for the program.

Ep 17 - How to save for a child’s future with WA529

Saving money for a child’s education can feel overwhelming, but it doesn’t have to be. The WA529 program allows families to set money aside where it will grow tax-free. Find out who can put money into the plan and how a child can use the money for a variety of educational expenses after high school. Some uses might surprise you such as books, housing and even rolling over funds to a Roth IRA.
We welcome our guests Luke and Jackie from the Washington Student Achievement Council.

Ep 16 - Options for those who only work a few years

For most plans, you need to work at least 5 years as a state employee to qualify for a retirement plan. But what if you leave state service before then? Or leave, and return a few years later? In this episode, you’ll learn the different options you have for the money in your retirement account. We also look at the details of restoring service credit if you do decide to come back to work.
 
Our guest on the show is Nitia who works for DRS. She helps people navigate these important choices.

Ep 15 - How to choose a financial advisor

Having a financial advisor can help you plan for your future, especially after a major life event such as a marriage, divorce or birth of a child. Learn the difference between a financial advisor and a money manager, and find out what questions you need to ask.
 
Our guest on the show is Bruce, who’s had a long career as a financial advisor and now works for DRS.

Ep 14 - Choosing between Plans 2 and 3

As a new employee, you get to choose what type of retirement account you’d like. You have 90 days to decide between Plan 2 and 3. In this episode, you’ll learn the key differences between these two plans.  
 
Our guest on the show is Kimm who works for DRS. She talks to people every day who are trying to make this important decision.
 
This choice applies to those who are starting employment in Washington state in: Public Employees' Retirement System (PERS), Teachers' Retirement System (TRS), or the School Employees' Retirement System (SERS).  

Ep 13 - How to claim missing money

Unclaimed Property is a program that reunites owners with their lost or missing money. This can be in the form of an old pay stub or an overpaid utility bill.
 
Our guest on the show is Joe from the Unclaimed Property division at the Washington State Department of Revenue. He explains how the program works and how you can quickly and safely find your missing money at ClaimYourCash.org

Ep 12 - Should you automate your finances?

You can use automatic transfers and payments to help you manage your budget and make life easier, but there are a few things to be aware of before you automate all your bills. We look at different strategies for saving and paying bills on time — so you can create a system that works for you.

Ep 11 - How to save for retirement with DCP

The Deferred Compensation Program (DCP) is similar to a 401K and can help you save more for retirement. In this episode you’ll learn how taxes are applied, the importance of contributing with a percentage of your income and tools for maximizing your investment.

Ep 10 - FAQs from the audience

We’ve received some great questions from our listeners asking how they can improve their finances. We jump into answering your questions:
0:23 - Is there any advantage to waiting past age 65 to start taking my pension?  
3:38 - With inflation so high, do you have any tips on saving for retirement? 
9:03 - What's the rule of 85? Does it apply in Washington state?