4th Quarter 2020 PHONE: 1-800-542-2667 or 502-573-7925 • WEB: kentuckydcp.ky.gov

KDC Connection Newsletter

Kentucky Deferred Comp. Kentucky's official supplemental retirement plan.

Kentucky Personnel Cabinet

2nd Quarter 2021

In This Issue

Let KDC help you make a difference in your retirement readiness

Page 2

KDC introduces new online distribution feature

Page 2

This just in ...Page 3

KDC Retirement Specialist DirectoryPage 4

For more ideas about how you could do more for your retirement in 2021, call 1-800-542-2667 or see the map on Page 4 to contact your local KDC Retirement Specialist.

2nd Quarter 2021 PHONE: 1-800-542-2667 or 502-573-7925 • WEB: kentuckydcp.ky.gov

Check out our new website

KDC’s website, kentuckydcp.ky.gov, got a major face-lift that:

• Is more intuitive about what you’re looking for

• Gives you more control over your experience

• Provides personalized information that’s timely, relevant and actionable

We have been busy behind the scenes, enhancing services to ensure that you are ready for your future through your plan.

Online distributions are also available now

For more information, refer to the article on Page 2.

It allows important content to be quickly accessed.

It improves the navigation experience for web-enabled devices.

It gets you to where you want to be with just one to two clicks.

2nd Quarter 2021 PHONE: 1-800-542-2667 or 502-573-7925 • WEB: kentuckydcp.ky.gov 2nd Quarter 2021 PHONE: 1-800-542-2667 or 502-573-7925 • WEB: kentuckydcp.ky.gov

Let KDC help you make a difference in your retirement readiness The pandemic encouraged a lot of workers to focus much more closely on finances — especially retirement savings. If it’s been a long time since you increased your contribution amount, or if you’ve never increased it, you don’t have to wait until benefits enrollment season.

You can increase your contribution amount anytime you’d like. And as with everything we do, KDC makes it easy. Log in to your account and click the Contribution Information link on the left side of the page.

• Click the “Change Contribution” button

• Enter your gross annual salary, then click “Next”

• Enter your new contribution amount(s)

• Confirm your deferral changes on the next page and click “Submit”

A little increase can go a long way

Consider committing to increasing your contribution amount every year. Even $10 more per payday can really add up over time. Based on your income and filing status, contributions to your KDC account may qualify for the Saver’s Tax Credit when you file your tax return next year.

To discuss more ideas for how to increase your contribution amount, call KDC’s Internal Retirement Specialists at 1-800-542-2667 or see the map on Page 4 to contact your local KDC Retirement Specialist.

Kentucky Retirement Specialists cannot offer investment, legal or tax advice. Contact your own advisor for these services.

Based on your income and filing status, your contributions to the Plan may qualify for the Saver’s Tax Credit when you file your tax return next year.

To discuss ways to make your future less taxing through KDC participation, call 1-800-542-2667 or see the map on Page 4 to contact your local KDC Retirement Specialist.

This just in ...

Save the date for the Governor’s LEADConference — KDC was proud to be a partof the Governor’s 2020 LEAD Conferenceand plans to partner again this year. MarkNovember 18-19 on your calendars. In themeantime, go to personnel.ky.gov/Pages/KYLEAD.aspx and look for moreinformation in our third-quarter newsletter,coming October 2021.

Our Frankfort-based walk-in office has resumed operation and is open Monday through Friday from 8 a.m. - 4:30 p.m. The Frankfort office representatives can still be reached at 1-800-542-2667 or you can stop by to meet with us in-person.

Monthly webinars — KDC’s monthly educational workshops are offered to all employees and plan participants. Kentucky Employees’ Health Plan participants are also eligible to earn LivingWell points by attending up to five webinars.

More than 12,000 of your co-workers and peers have attended since the start of 2020. Stay on track and don’t get left behind when it comes to your financial wellness. Register now for these upcoming webinars:

• Budgeting• Planning for health care costs in retirement• Social Security • Tax-efficient retirement income planning

Go to kentuckydcp.ky.gov to find our webinar offerings.

Auto enrollment — During its April 2021 session, the Kentucky General Assembly approved Auto Enrollment for legislators and judiciary members. This decision followed the Assembly’s 2019 decision to enable Auto Enrollment for state employees.

New PRC service to be released — Financial planning was approved by the Commonwealth of Kentucky in the last legislative session; KDC is currently developing this program with its partners so it can offer the services of a Personal Retirement Consultant (PRC) for near-retirees and retirees. Our PRC will be a Certified Financial Planner® (CFP®) who can:

• Provide a personal look at your retirement income resources

• Compare it with your retirement income needs

• Prepare a detailed cash flow analysis and retirement income plan

KDC’s PRC services will be available at no extra cost for as long as you remain a KDC participant. Watch for more information about the new services coming later.

New Pre-Retirement Checklist — KDC has prepared a new guide for workers starting to plan their retirement date. It assembles website addresses and phone numbers for Kentucky pension programs, Social Security, Medicare and KDC.

Go to kentuckydcp.ky.gov to view the Pre-Retirement Checklist.

Kentucky Deferred CompReady to Retire?Take your first steps by contacting these offices.

Kentucky 457(b) and 401(k) Plans

Kentucky Deferred Comp (KDC)Website: https://kentuckydcp.ky.gov

Phone: 1-800-542-2667 / 1-502-573-7925

Three reasons to contact KDC right away when you’re planning to retire:

1KEEP KDC WORKING FOR YOU

Scan the QR code above to talk with a Kentucky Retirement Specialist about how and why you should consider letting your KDC investments potentially grow through your retirement. KDC is with you for life.

2 DEFER UNUSED LEAVE BALANCE

Consider giving your retirement savings a boost as you defer immediate income taxes by converting unused vacation, comp time and/or sick time into a KDC contribution. You must submit a KDC Leave Balance Deferral Form prior to your specified retirement date. Plan ahead. Contact us as soon as you know your retirement date.

3 SAVE MORE FOR RETIREMENT

Three years prior to your plan’s normal retirement age, you may be eligible to make a one-time election to defer additional money into your retirement plan.

Kentucky Pensions

Kentucky Public Pensions Authority (KPPA)

Website: https://kyret.ky.gov

Member Self Service: https://myretirement.ky.gov

Phone: 1-800-928-4646

Teachers’ Retirement System (TRS)

Website: https://trs.ky.gov

Pathway for member account access: https://mss.trs.ky.gov

Phone: 1-800-618-1687Retiree Health Care

KPPA and TRS offer health care insurance to eligible retirees within their systems. Contact your pension system for more information.

Social Security and MedicareSocial Security

Website: https://ssa.gov

Phone: 1-800-772-1213

Social Security benefit payouts can begin as early as age 62. The Social Security Administration office recommends that you apply online at ssa.gov two months prior to receiving benefits.

Medicare

Website: https://medicare.gov

Phone: 1-800-MEDICARE (1-800-633-4227)

You can apply for Medicare coverage three months before you turn age 65. Visit medicare.gov formore information.

Kentucky Deferred Comp

KDC makes requesting account distributions even easier When time is of the essence, it’s good to know you have quick access to your money. In fact, KDC has just made the process even easier by launching our online withdrawals feature. This new service offers:

• Easy online self-service options for applying, with proactive status alerts to keep you informed

• Fast execution that guides you through a personalized and interactive experience so you can quickly elect the distribution option best suited to your needs

• Convenient access that allows you to initiate distributions whenever you want

• Proactive status alerts to keep you informed throughout the process

To learn more about this new feature, look for the link on the homepage of our website, kentuckydcp.ky.gov, or call us at 1-800-542-2667 or 502-573-7925 anytime Monday through Friday between 8 a.m. and 11 p.m. ET.

Investing involves market risk, including possible loss of principal. No investment strategy or program can guarantee to make a profit or avoid loss. Actual results will vary depending on your investment and market experience.

Kentucky Retirement Specialists are Registered Representatives of Nationwide Investment Services Corporation (NISC), member FINRA, Columbus, Ohio. Nationwide representatives cannot offer investment, legal or tax advice. Contact your financial professional for these services.

Nationwide is a service mark of Nationwide Mutual Insurance Company. © 2021 Nationwide

NRM-19413M2-KY (07/21)

2nd Quarter 2021 PHONE: 1-800-542-2667 or 502-573-7925 • WEB: kentuckydcp.ky.gov

HOLIDAYS

Monday, September 6, 2021 Labor Day

KDC Office closed

Calendar of events:

Actions of the Board of Trustees At the regularly scheduled quarterly meeting on June 25, 2021, the Authority Board of Trustees (Board) took the following actions:

• Approved the minutes of the March 26, 2021, regular meeting, as submitted

• Noted new updates will be coming to the participants’ online experience

• Acknowledged the market timing policy revision with its new fund structure and additional savings of $5 million to the Plan annually

• Set the next quarterly meeting date for Friday, September 24, 2021, at 10 a.m. as a virtual meeting with the physical location in the DEI Training Room at the State Office Building, 501 High Street, Frankfort, Kentucky

*

Adair

Allen

Anderson

Ballard

Barren

Bath

Bell

Boone

Bourbon

Boyd

Boyle

Bracken

Breathitt

Breckinridge

Bullitt

Butler

Caldwell

Calloway

Campbell

Carlisle

Carroll

Carter

Casey

Christian

Clark

Clay

Clinton

Crittenden

Cumberland

Elliott

Estill

Fayette

Fleming

Floyd

Franklin

Fulton

Gallatin

Garrard

Grant

Graves

Grayson

Green

Greenup

Hancock

Hardin

Harlan

Harrison

Hart

Henderson

Henry

Hickman

Hopkins

Jackson

Jefferson

JessamineJohnson

Kenton

Knott

Knox

Laurel

Lawrence

Lee

Leslie Letcher

Lewis

Lincoln

Livingston

Logan

Lyon

Madison

Magoffin

Marion

Marshall

Martin

Mason

Meade Menifee

Mercer

Metcalfe

Monroe

Montgomery

Morgan

Muhlenberg

Nelson

Nicholas

Ohio

Oldham

Owen

Owsley

Pendleton

Perry

Pike

Powell

Pulaski

Robertson

Rockcastle

Rowan

Russell

Scott

Shelby

Simpson

Spencer

Taylor

ToddTrigg

Trimble

Union

Warren

Washington

Wayne

Webster

Whitley

Wolfe

Woodford

Daviess

KDC Retirement Specialist Directory

NEIL ARNOLD859-806-2211joshua.arnold@nationwide.com

CHRIS JONES859-230-0340 jonec12@nationwide.com

JOHN KNAUSZ606-205-8130 knausj1@nationwide.com

OPEN1-800-542-2667Option 1

SHAWN DRAKE 859-221-2149 drakes2@nationwide.com

BRENT MUSIC502-661-3453musicb1@nationwide.com

JAMIE CORBETT859-229-9774corbej1@nationwide.com

LESLIE HOLLERMAN859-230-5095 hollel2@nationwide.com

KEITH ORR502-661-3454 orrw1@nationwide.com

Frankfort Office Retirement Specialists

1-800-542-2667, option 1 We are available to assist you by phone or in person Monday through Friday, 8 a.m. to 4:30 p.m.

Franklin*