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.  

Sometimes people get overwhelmed trying to find the “right” financial advice. But for a simple and effective method, look no further than "The Simple Path to Wealth" by JL Collins. His three core rules - spend less than you earn, invest the extra in low-cost index funds, and avoid debt - have become a strong foundation for those looking to grow financially. We discuss Collins’ approach to compound interest and simplifying your finances.

Washington state has some of the strongest-funded pensions in the nation. In this episode, we sit down with Washington State Actuary, Matt Smith, to unpack why the Law Enforcement Officers' and Fire Fighters' (LEOFF) Plan 1 has an expected surplus. Matt breaks down simple ways to measure pension health, why LEOFF 1 now looks more like an endowment, and the policy and legal questions lawmakers face when deciding how to use expected surplus pension funds.

What does it really mean to retire early? Is it about leaving work behind completely, or is it more about creating flexibility, freedom, and balance sooner rather than later? We’re joined by Christine, a DRS employee who’s been carefully planning for her future since her mid-20s. She shares how her perspective on retirement has evolved: from imagining it as “stopping work altogether” to thinking about it as a chance to downshift: maybe working part-time, pursuing a different role, or finding new ways to stay engaged without the 9-to-5 grind.

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.

If you’ve ever seen the name Voya Financial with your DCP or Plan 3 account and wondered what they do, this episode is for you. We look at the role of a record keeper: helping process transactions, maintain accounts, and support over 400,000 customers! We also look at what record keepers don’t do and how they differ from investment managers. Tune in to find out how record keepers play a key role in making your retirement accounts run smoothly.

Why do pensions sometimes go up? In this episode, we talk with Matt Smith, the state actuary, about COLAs (Cost of Living Adjustment) and how it’s tied to inflation. Matt explains how prices are tracked using the Consumer Price Index for Urban Workers (CPI-U) and why that matters for your pension. We also look at why COLAs are based on prices in the Seattle area, even if you live somewhere else. Tune in to find out how inflation and COLAs work together to shape your retirement income.

If you ever wanted a quick way to estimate how many years it’ll take for your investments to double, take 72 and divide it by the interest rate. In this episode, we explore how this a great way to think about the power of compound interest. If you’re early in your career, it may encourage you to set aside more money now. And if you’re close to retirement, it can be reassuring to know your investment could double in the next 7-10 years.