DC Update - Winter 2017
Looking for more ways to save? The Savings Elf has your back! Check out the newest DC Update, The Savings Elf.
VIEW THE 2017 WINTER DC UPDATE
Holiday Update
The New York Stock Exchange will be closed on Monday, December 25, 2017 is observance of Christmas. Due to the holiday, transactions submitted via Account Access after 3:00 pm central time (CT) on Friday, December 22nd will be processed as of the close of business on Tuesday, December 26th. Transactions will not be processed on Monday, December 25th. The local plan office and call center will reopen at 7:30am CT on Tuesday.
Have a wonderful Christmas holiday.
Missouri Stable Income Fund Rate
The Missouri Stable Income Fund annualized credited rate effective first quarter 2018 (January 1 - March 31, 2018) will be 2.18%.
IRS Announces 2018 Contribution Limit Increase
On October 19, 2017, the Internal Revenue Service announced that the annual maximum contribution limit for retirement plans in tax year 2018 would increase from $18,000 to $18,500. Contribution limits are determined by either an increase or decrease in the cost-of-living index and directly affect the amounts a participant can contribute to the MO Deferred Comp Plan. This means MO Deferred Comp participants who wish to max out their retirement savings can contribute an additional $500 per year to their deferred comp account to combat the rising cost of living. The catch-up contribution limit, for those age 50 or older, will remain at $6,000 in 2018. Below are the contribution limits for the 2018 tax year.
2018 Contribution Limits
| Maximum Annual Deferral – under age 50 | $18,500 |
| Age 50 and Over Catch-up Provision Limit | $6,000 ($24,500 total) |
| Pre-Retirement Catch-up Provision Limit | $18,500 ($37,000 total) |
For more information, please visit the IRS website.
Your Whole Story
2017 National Retirement Security Week
Saving for retirement doesn’t have to be difficult. In fact, it's actually quite simple with the MO Deferred Comp Plan. Check out our favorite savings tips that can help you along your retirement savings journey.
View NRSW Savings Tips2017 Retirement and Savings Survey Results
The survey results are in! This August, deferred comp conducted its annual Retirement and Savings Survey and received over 8,000 responses. Like last year, the survey was sent to three segments of state of Missouri employees: active employees age 35 and under, active employees age 36 and older, and terminated employees (retirees) over age 55. This year the surveys asked more detailed information on debt, expenses, and what financial topics savers would like to learn more about. The feedback received will help MO Deferred Comp better understand participants' needs and ultimately improve education efforts. Thank you to everyone who participated in this year's surveys.
View Survey Winners & ResultsMissouri Stable Income Fund Rate
The Missouri Stable Income Fund annualized credited rate effective fourth quarter 2017 (October 1 - December 31, 2017) will be 2.40%.
Update Your Address Book!
The deferred comp education specialists' contact information has changed! Be sure to update your records with your representative's new email address and phone number.
- Don Wilson – Central & South-Central Territories
DonW@mosers.org, 573-644-1263 - Callie Simmons – Central, West-Central, & Northeastern Territories
CallieS@mosers.org, 573-644-1265 - Ronda Peterson – Southeastern Territories
RondaP@mosers.org, 573-644-1266 - Dale Rippelmeyer – Eastern Territories
DaleR@mosers.org, 573-644-1262 - Deborah Taylor – Southwestern Territories
DeborahT@mosers.org, 573-644-1264 - David Gibson – Northwestern Territories
DavidG@mosers.org, 573-644-1261
Holiday Update
The New York Stock Exchange will be closed after 12 pm on Monday, July 3, 2017 and all day Tuesday, July 4, 2017 in observance of Independence Day. Due to the holiday, transactions submitted via Account Access after 12 pm Central Time (CT) on Monday, July 3, 2017, will be processed as of the close of business on Wednesday July 5. The deferred comp plan’s local office and call center will resume normal business hours on Wednesday July 5th.
Have a fun and safe Independence Day!
Missouri Stable Income Fund Rate
The Missouri Stable Income Fund annualized credited rate effective third quarter 2017 (July 1 - September 30, 2017) will be 2.45%.
State of Missouri Deferred Compensation Plan Wins an Eddy Award Two Years in a Row
For the second year in a row, the State of Missouri Deferred Compensation Plan was awarded a prestigious Eddy Award from Pension & Investments (P&I) magazine at its East Coast Defined Contribution Plan Conference on March 20, 2017. The P&I Eddy Awards recognize the best practices in retirement savings education for defined contribution plan participants. The deferred compensation plan won second-place among public sector nominees in the special projects category.
Read MoreMissouri Stable Income Fund Rate
The Missouri Stable Income Fund annualized credited rate effective second quarter 2017 (April 1 - June 30, 2017) will be 2.40%.
America Saves Week 2017
America Saves Week begins Monday, February 27th. Grab your thinking caps and get your buzzer ready, it’s time for a Savings Showdown!
Read More2016 Year-End Reminders
This update highlights important tax and RMD information for participants receiving distributions from the plan.
Read More