Announcements | Looking Ahead | Spotlight | Learning More | Planning for Retirement |
Announcements | ^ TOP OF PAGE |
October is Cybersecurity Awareness Month. Despite the advancement of digital tools for financial management, privacy and data breaches are at risk now more than ever. Hackers continue finding new ways to compromise security every day. You could be the target of a threat at any time, so be your own first line of defense when it comes to protecting your accounts and identity. Your account numbers, PINs, passwords and personal information are the keys to your accounts. Here are Voya’s Top 10 Fraud Prevention Tips to help keep your information safe and secure.
Other tips
These are just some of the ways to help protect your accounts and identity. For more tips and insights, visit voya.com/articles/protecting-your-accounts.
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Looking Ahead | ^ TOP OF PAGE |
5 tips to help maximize your benefits If you’re still working, your open enrollment period for employee benefits in 2025 may be coming soon. The process may be daunting for some, it doesn’t have to be. It’s important to take the time needed to help ensure that you and your family are properly covered based on your personal situation. By finding the right coverage, you may even discover some cost savings that you can use towards retirement or achieving another financial goal. So, how do you create a benefits plan that matches your life stage and makes the most of what your employer offers?
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Spotlighting the CalPERS 457 Plan | ^ TOP OF PAGE |
Investing your way in the CalPERS 457 Plan When it comes to investing, people have different levels of risk tolerance and experience. Some may not have the experience or knowledge to develop their own investment portfolio. Others may prefer to actively manage their account by selecting their own mix of investments. No matter what your investment style is, the CalPERS 457 Plan offers a simple approach to investing that can help match your level of interest.
The CalPERS Target Retirement Date Funds offer a diversified portfolio in a single fund. All you have to do is select the Target Retirement Date Fund that is most appropriate for you based on your anticipated retirement age. CalPERS then manages the asset allocation of the fund for you, gradually shifting from a greater concentration of higher-risk investments to a greater concentration of lower-risk investments as you near and enter retirement. This approach is convenient if you don’t have the desire, time or experience to actively select your asset allocation and manage it over time. The Target Retirement Date Funds are designed to reduce volatility through diversification, especially as each fund approaches its target date and the years after retirement. There is no guarantee, though, that any fund will achieve its strategic objective.
The Core Funds in the CalPERS 457 Plan are a carefully selected list of passively managed investment options. With six index funds in different asset classes to choose from, you can use the Core Funds to create a diversified portfolio based on your personal situation. These options may be for you if you like to design and actively manage your own asset allocation over time. Since index funds are passively managed investments, they offer broad, low cost exposure to stocks, commodities, equities, real estate securities, bonds, fixed income securities, and more.
The Self-Managed Account (SMA) is a brokerage option that affords you more flexibility in choosing your investments, with access to thousands of different mutual funds from hundreds of fund families. Investments are limited to mutual funds made available by the Schwab Personal Choice Retirement Account® (PCRA). The mutual funds available under the SMA option are not selected, reviewed or monitored by CalPERS. The SMA option is not designed for all investors and should be used by experienced investors who can make informed decisions and understand the risks associated investing. If appropriate for you, the PCRA can be funded by transferring money from your CalPERS 457 Plan’s core investments. You can then transfer money to and from your SMA to the CalPERS 457 Plan at any time, subject to any trading restrictions. Call the Plan Information Line at 800-260-0659 for more information or assistance with setting up an account. Now that you’ve learned more about investing in the CalPERS 457 Plan, keep the momentum going. The “target date” is the approximate date when a participant plans to retire (assuming a retirement age of 59). There is no guarantee that any investment option will achieve its stated objective. Principal value fluctuates and you may lose money, including losses near and following retirement, and there is no guarantee that the investment will provide adequate retirement income. Asset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining markets. Schwab Personal Choice Retirement Account® (PCRA) is offered through Charles Schwab & Co., Inc. (Member SIPC), a registered broker-dealer which also provides other brokerage and custody services to its customers. ©2024 Charles Schwab & Co., Inc. All rights reserved. Used with permission. Charles Schwab and Voya Financial are separate and unaffiliated and are not responsible for each other’s policies or services.
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Learning more about the CalPERS 457 Plan | ^ TOP OF PAGE |
Why is CalPERS a great choice for both your pension and deferred compensation plans? For more than nine decades, CalPERS has built retirement and health security for the dedicated individuals who serve, or have served, California at the state, regional, and local level through a career in public service. As the nation’s largest public pension fund, CalPERS ensures that benefits and earned retirement are as enduring as the state our members maintain. CalPERS has an unwavering commitment to financial security in retirement, with a pension fund that serves more than 2 million members in the retirement system. Did you know, though, that the CalPERS 457 Plan is designed to complement a pension and other savings sources to help provide you with the additional income needed in retirement? If you think that having both the CalPERS pension and 457 Plan is putting “too many eggs in one basket,” think again. Both are separate trusts that are independently managed by CalPERS to meet unique objectives. Even if your employer is not a part of the CalPERS pension, the 457 Plan is designed specifically for public employees. The available investment options in the Plan offer investment return potential while mitigating some investment risk. For more experienced investors, the Plan also offers thousands of additional investments through the Schwab Personal Choice Retirement Account option. Depending on your employer, you may have or had the option of enrolling in other supplemental savings products. It’s also possible that you enrolled in more than one of these plans and have saved to each during your working years. If you can still save to the CalPERS 457 Plan, we encourage you to consider why it may be the best option for you to continue accumulating the savings you’ll need in retirement.
These are just some of the reasons why the CalPERS 457 Plan continues to be a convenient way to save
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Planning for retirement with the CalPERS 457 Plan | ^ TOP OF PAGE |
Actions today to help you plan for tomorrow PART 1. In the first part of our three-part series for CalPERS 457 Plan participants who are within 10 years of retirement, learn more about what you should start thinking about now as you take specific, simple steps towards retirement.
Visit voya.com/page/on-demand/nearing-retirement-series-getting-started to learn more about each of these steps and ways to get started. For help getting organized and making a plan to achieve your retirement goals, schedule an appointment with your dedicated Account Manager by calling 888-713-8244 or visiting calpers457.timetap.com. Part 2, coming next quarter in Making Cents, will focus on checking your progress, learning more about other retirement income sources, and expenses to expect in retirement.
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This material has been provided for educational purposes only. This material was created to provide accurate and reliable information on the subjects covered. It is not intended to provide specific legal, tax or other professional advice. Information from registered Plan Service Representatives is for educational purposes only and is not legal, tax or investment advice. Local Plan Service Representatives are registered representatives of Voya Financial Advisors, Inc., member SIPC. Plan administration services provided by Voya Institutional Plan Services, LLC. 3282050_0824 CN3769047_0826 ©2024 Voya Services Company. All rights reserved. |