Preparing for National Retirement Security Week
Each year, during National Retirement Security Week, public employees are encouraged to take a closer look at their retirement goals, then determine if their current savings strategy will help them achieve those goals.
In the midst of the week’s observance this year (Oct. 21-27, 2018), the State Treasurer’s Office will provide an open house with Retirement Plus representatives Oct. 24. The representatives set up in the Main Capitol Building, Room E-145 will be able to answer questions about your existing 457 plan, or assist you in starting up a plan for the first time.
Not everyone has the same retirement needs, so a cookie cutter retirement plan just won’t work. For public employees in West Virginia, the state retirement benefits may not be enough to get you through retirement. That’s where a West Virginia Retirement Plus Deferred Compensation Plan comes in.
How do I know if 457 is right for me?
This 457 (b) plan is a supplemental insurance plan, meaning it is designed to supplement or fill the gaps where state retirement benefits or social security may not be enough. If you already have a WV Retirement Plus Plan—that’s great! But, it never hurts to re-evaluate your savings plan and make sure you are still on track to meet your retirement goals. So for those of you interested in re-evaluating your plan, and for those of you interested in starting your 457 plan, we have the tools and resources to help you out.
Visit the West Virginia Retirement Plus website. It has a ton of resources like the Retirement Planner Tool and the Paycheck Calculator. And, of course, you can always contact our offices at a time that is convenient for you.
Not a state employee?
If you don’t meet the requirements for a 457 plan, no need to worry – we still have help for you! You can learn more about this subject and view other financial education resources on our website.
The important thing is that you do SOMETHING! Don’t let National Retirement Security Week pass you by without at least thinking about your future plans. After all, if you don’t plan now, what kind of future will that be?