Fund Your Future with DRS

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.

Ep 22 - Investing when the stock market is down

It can be frustrating to invest when the stock market is going down or sideways. Find out how to stay calm, invest for the long-run and take advantage of compound interest.

Ep 21 - DCP earnings and annuities

Your DCP funds are like a large savings account. When you retire, you have several options for how you can use that money. In this episode, we look at the options for taking money out of the account. One popular choice includes purchasing an annuity that will guarantee the funds last for your lifetime.

Ep 20 - Book review: “Financial Feminist” by Tori Dunlap

A recent survey found that only 28% of women feel confident investing in the stock market. In our first ever book review, we discuss New York Times bestseller: "Financial Feminist" by Tori Dunlap. Tori's shame-free approach has helped over 3 million women feel financially confident.

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.