Fund Your Future with DRS

Want to save more for retirement in 2026? In this episode, we break down the new Deferred Compensation Program (DCP) limits: $24,500 annually, or $32,500 if you’re age 50+ and even more if you’re within 3 years of retirement. Find out how pretax and Roth contributions work together - what counts toward the limit and what doesn’t - so you can make the most of your savings next year.

Every two years, contribution rates for Washington’s retirement plans change and that can raise questions. When a relative asked Amber why employer rates went down, she realized it’s just as important to understand decreases as increases. In this episode, we unpack how these rates are set, why they fluctuate, and how you can feel confident that Washington’s pensions remain a reliable, guaranteed source of income.

If you have a DCP or Plan 3 investment account, you're required by the IRS to withdraw a minimum distribution (RMD) from your pretax balance when you reach age 73. We take a look at how the amount you're required to withdraw is calculated. We also look at special cases like inherited accounts and exceptions for those still working.

There are a lot of reasons people choose to convert money within their DCP account from pretax to Roth option. We discuss the process of how this is done as well as the pros and cons, including timing and tax rules.  

The term micro-retirement is becoming popular with people of all ages. The idea involves stepping away from the workforce for an extended period to pursue passions, travel, recharge, or learn new skills, essentially hitting the reset button on life. We look at perspectives and planning strategies to help you make micro-retirement a viable, enriching option.

You have options when it comes to accessing your DCP funds. In this episode, we cover smart ways to manage your funds, including monthly payouts, rollovers, lump sums and annuities. Plus, find out about required minimum distributions, emergency access and managing beneficiaries.

Resources:

Withdrawals in retirement calculator DCP Roth vs pretax calculator DCP savings calculator

According to a study by Allianz Life Insurance, Americans are more afraid of running out of money than of dying. We unpack the emotional toll of financial stress and talk about practical ways to regain a sense of control. Whether you’re living paycheck to paycheck, or simply overwhelmed by rising costs, this episode offers real talk to help you breathe a little easier when it comes to your money.

In this timely episode, we dive into the reality many are facing: economic uncertainty and its impact on personal finances and retirement plans. We discuss practical steps to manage stress, maintain financial stability, and make informed decisions. We also explore how tools like Washington's Deferred Compensation Program (DCP) can provide flexibility and serve as a financial safety net when you need it most.

Are there some groups of public employees that do a better job of saving for retirement? In this episode, our guest AJ shares why firefighters are proactive when it comes to retirement planning. Find out about their approach and how you can apply it to your own long-term planning.

It can be scary to look at your DCP or Plan 3 investments and see that your balance has suddenly gone down. However, even if stocks are low, that doesn’t necessarily mean you should panic. In this episode, we talk about how to mentally deal with the stock market during uncertain times. Our guest, Malia, highlights the importance of long-term investment planning and what you should consider if you’re close to retirement age.

As you plan for health care in retirement, a VEBA or HRA can be a helpful tool. Many public employers participate to help you save for your out-of-pocket healthcare expenses and premiums.

Our guest Brian, from Gallagher (consultant for VEBA trusts), shares insights on how these tax-advantaged accounts work including how to enroll, investment options and the flexibility the account offers.

Official website: HRAVEBA.org, VEBA.org