Holiday Update
HOLIDAY UPDATE: The New York Stock Exchange and call center will be closed on Tuesday, January 1, 2019, in observance of New Year's Day. Due to the holiday, transactions submitted via Account Access after 3:00 pm central time (CT) on Monday, December 31, 2018, will be processed as of the close of business on Wednesday, January 2, 2019. Transactions will not be processed on Tuesday, January 1. The local plan office and call center will reopen at 7:30 am CT on Wednesday.
Have a great holiday.
2018 Year-End Reminders
1099-R Tax Forms & Required Minimum Distributions (RMDs)
1099-R Tax Forms
The 1099-R tax form(s), for participants who withdrew money from the deferred compensation plan in 2018, will be available online by the fourth week of January 2019. The forms will also be mailed no later than January 31, 2019. This form will indicate how much money you withdrew from your account during the 2018 tax year, what portion of that amount is taxable, and any federal or state taxes already withheld from those distributions. For additional updates on the status of the 1099-R tax forms, log on to Account Access.
Required Minimum Distributions (RMDs)
Tax laws require annual withdrawals, known as Required Minimum Distributions (RMDs), from retirement accounts in the year a participant reaches age 70½, or when he or she retires, whichever is later. The MO Deferred Comp Plan reviews participant accounts each year to ensure that they are withdrawing the minimum amount required by law. If a participant had not withdrawn enough to satisfy the RMD, the difference will be paid by December 31, 2018. If that was the first year a participant was required to receive a distribution, he or she will be sent an RMD in March of this year (2019).
For those receiving periodic payments, that payment schedule will continue unchanged. However, if the requested payments equal the RMD amount, deferred comp will adjust the payment amount(s) so that the RMD is satisfied. This adjustment will take place each January or at the time a participant establishes an RMD-only schedule.
Participants can establish periodic payments at any time, though they are not required to do so. Each participant's account will be reviewed annually to ensure compliance with the regulations and any remaining RMD will be distributed automatically.
Holiday Update
HOLIDAY UPDATE: The New York Stock Exchange and call center will close early at 12:00 pm Central Time (CT) on Monday, December 24, 2018 and will be closed on Tuesday, December 25, 2018 in observance of Christmas. Due to the holiday, transactions submitted via Account Access after 12:00 pm CT on Monday, December 24th, will be processed as of the close of business on Wednesday, December 26th. Transactions will not be processed on Tuesday, December 25th. The local plan office and call center will reopen at 7:30 am CT on Wednesday.
Have a great holiday.
Missouri Stable Income Fund Rate
The Missouri Stable Income Fund annualized credited rate effective first quarter 2019 (January 1 – March 31, 2019) will be 2.74%.
Closing Update
The New York Stock Exchange, call center, and local office will be closed on Wednesday, December 5, 2018 in observance of the day of mourning for former President George H.W. Bush. Due to the closing, transactions received via Account Access after 3:00p.m. Central Time on Tuesday, December 4, 2018, will be processed as of the close of business on Thursday, December 6, 2018. Transactions will not be processed on Wednesday, December 5, 2018.
Annual Maximum Contribution Limits will Increase in 2019
Great news, you can save MORE in 2019! The IRS recently announced the annual maximum contribution limit for employees participating in most 457 plans and changes were also made to the adjusted gross income (AGI) maximum limit to qualify for the saver's credit. Learn more about what this could mean for you!
Read MoreYour Whole Story
2018 National Retirement Security Week
Your savings strategy depends on your personal situation: What's going on in your life? How long do you plan on working? What expenses can you cut back and which ones are an absolute necessity? It's all about you and your ability grow your retirement savings large enough to produce a fruitful outcome in retirement. This National Retirement Security Week, we encourage you to take time to consider Your Whole Story, the Retirement Garden edition.
View NRSW Savings Tips2018 Retirement and Savings Survey Results
A big THANK YOU to all who participated in the 2018 Retirement and Savings Surveys! Your insights will help us modify our current communication strategy, tweak seminars, videos, and publications to best suite your needs, and educate on topics relevant to your current life situation.
View Survey Winners & ResultsState of Missouri Deferred Compensation Plan Wins the 2018 Leadership Award
The National Association of Government Defined Contribution Administrators, Inc. (NAGDCA) awarded the State of Missouri Deferred Compensation Plan the 2018 Leadership Recognition Award for the plan's redesign of their RetiremenTrack calculator. The Leadership Awards recognize excellence and innovation in retirement plan design, participant education, technology, and/or effective communication methods in government defined contribution plans.
Read More2018 Retirement and Savings Survey
Help us improve our education efforts in 2019 by taking our short Retirement & Savings Survey! Those who complete the survey will be entered into a random prize drawing for an Amazon.com gift card and other cool prizes!
Take the Retirement & Savings SurveyMissouri Stable Income Fund Rate
The Missouri Stable Income Fund annualized credited rate effective fourth quarter 2018 (October 1 – December 31, 2018) will be 2.60%.
Holiday Update
The New York Stock Exchange will be closed on Monday, September 3, 2018 in observance of Labor Day. Due to the holiday, transactions received via Account Access after 3:00 p.m. Central time (CT) on Friday, August 31, 2018, will be processed as of the close of business on Tuesday, September 4, 2018. The local plan office and call center will reopen at 7:30am CT on Tuesday.
Have a great holiday.
DC Updates - Summer 2018
The 2018 Summer DC Updates break down the savings gap between men and women, and also look at the effects of different plan costs on your final retirement account balance.
VIEW THE 2018 SUMMER DC UPDATES
Holiday Update
The New York Stock Exchange and deferred comp call center will close after 12:00 p.m., on Tuesday, July 3, 2018, through Wednesday, July 4th, 2018. The local office will also be closed after 2:00 p.m., Tuesday, July 3, 2018 through Wednesday, July 4th, 2018 in observance of Independence Day. Due to the holiday, transactions received via Account Access after 12:00 p.m. (CT) on Tuesday, July 3rd, will be processed as of the close of business on Thursday, July 5th. Regular hours will resume on Thursday, July 5th.
Have a great holiday.
Missouri Stable Income Fund Rate
The Missouri Stable Income Fund annualized credited rate effective third quarter 2018 (July 1 – September 30, 2018) will be 2.57%.
Holiday Update
The New York Stock Exchange will be closed Monday, May 28, 2018, in observance of Memorial Day. Due to the holiday, transactions received via Account Access after 3:00 p.m. central time (CT) on Friday, May 25, 2018 will be processed as of the close of business on Tuesday, May 29. The local plan office will be open Tuesday, May 29 and the call center will reopen at 7:30 a.m. on Tuesday.
Have a great holiday.
RealizeRetirement® Adventure
Take a break from your everyday routine to board the RealizeRetirement® Adventure, a 7-minute mobile escape room, brought to you by the MO Deferred Comp Plan! This FREE adventure game is designed specifically for state of Missouri employees and requires players to solve a series of retirement riddles using clues, hints, and strategies to complete the given mission!
Read MoreDC Updates - Spring 2018
Did you see an increase on your paycheck from the 2017 Tax Reform? Or, do the ups and downs of the market have you worried? The 2018 Spring DC Updates cover these topics, plus more!
VIEW THE 2018 SPRING DC UPDATES
Holiday Update
The New York Stock Exchange will be closed Friday, March 30, 2018 in observance of Good Friday. Due to the holiday, transactions received via Account Access after 3:00 p.m. central time (CT) on Thursday, March 29, 2018, will be processed as of the close of business on Monday, April 2. The local plan office will be open Friday, March 30 and the call center will reopen at 7:30 a.m. on Monday.
Have a great holiday.
March 2018 - MO Deferred Comp Bulletin
Everything you need to know about recent deferred comp news in one place. Check out the March 2018 MO Deferred Comp Bulletin to see what deferred comp has been up to over the past few months.
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Missouri Stable Income Fund Rate
The Missouri Stable Income Fund annualized credited rate effective second quarter 2018 (April 1 – June 20, 2018) will be 2.10%.
Paycheck Bumps from Tax Reform Present the Perfect Opportunity to Increase Retirement Savings
Have you looked at your paystub recently? If not, you should! According to a recent survey by LendEDU, Americans’ have seen an average increase of $130 per paycheck thanks to the 2017 tax reform legislation that became effective in January. Before you rush off and start spending those extra dollars, you may want to consider saving that money for retirement because retirement is on average the most expensive purchase you will ever make!
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America Saves Week 2018
America Saves Week beings Monday, February 26, 2018 and runs through March 3rd. During this year's video campaign, we highlight a few common "reasons" why people are not saving or are not saving enough for retirement.
Read MoreHoliday Update
The New York Stock Exchange, as well as the deferred comp office and call center, will be closed Monday, February 19, 2018 in observance of Washington’s Birthday. Due to the holiday, transactions received via Account Access after 3:00 p.m. central time (CT) on Friday, February 16, 2018, will be processed as of the close of business on Tuesday, February 20. Regular hours will resume on Tuesday, February 20th.
Have a great holiday.
Update Your Account Beneficiaries
Saving money for your retirement is a crucial step in preparing for your future, however designating your beneficiary information is just as important. By reviewing your appointee(s) on a regular basis, you are not only doing the right thing for yourself, but also for your loved ones. To quickly update your beneficiary information, log in to Account Access via modeferredcomp.org or the ESS Portal.
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