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E. Every Year You’re in the Department
As fire fighters, we know the importance of regular maintenance and checkups. Your retirement plan is no different. Set a date on your calendar to check in on the health of your retirement plan.
- Check your Washington State Department of Retirement Systems (DRS) account balance.
- Review your DRS Deferred Compensation Program (DCP) results and fund allocations.
- If you’re unsatisfied with your investment returns, get advice from a qualified investment professional on adjusting your fund investments and allocations.
- If you’re not contributing up to your contribution limit, consider whether you want to increase your contributions.
- Ensure your beneficiary information is up to date.
- Check your Social Security account balance to ensure your earnings are accurately reported. Can we add the link for them to check their social security/medicare eligibility?
- Review your will and update it if you’ve had significant life changes during the past year.
- Review your insurance beneficiaries and update your instructions if you’ve had significant life changes during the past year, including:
- Your personal information in Workday (such as your home address, phone number, and email address). See the “Change Personal Information” job aide in Workday for more information.
- Your Group Term Life Insurance beneficiaries in Workday. See the “Manage Beneficiaries” job aide in Workday for more information.
- Your DRS beneficiaries. See the Life Events page on the DRS site for more information.
- Your City of Seattle Voluntary Deferred Compensation Plan beneficiaries. See the plan site for more information.
- Your Seattle Fire Fighters HealthCare Trust (SFFHCT) Life & Accidental Death & Disability (AD&D) Insurance beneficiaries on SIMON.
- Your Sick Leave beneficiaries. See the Beneficiaries Designation form on the City’s SharePoint site for more information.
- If your marital/domestic partnership status has changed, use one of the following forms to update your status: Affidavit of Marriage/Domestic Partnership, Statement of Marriage/Domestic Partnership Termination.
- Your Emergency Contact form. See the Emergency Contact form on the City’s SharePoint site for more information.
- Review your retirement plan and update it if you’ve had significant life changes during the past year or have new retirement goals.
