PERA 401(k) Sequence.

Many PSD employees have decided to start a PERAplus 401(k).  Here are the basic steps.  Note: You should always check the PSD, PERA, and Voya websites for the most current information. These steps and screenshots could change at any time.  Please call PERA/Voya to confirm this procedure.  Selecting the target date fund, that matches your approximate retirement year, is a prudent choice.

1. Complete the PSD payroll reduction form. (up to $19.5k/yr)
2. Turn it in by the 10th of the month.  It will be deducted from that month's paycheck, on the last weekday of that month.  If you submit the form after the 10th of the month, the deduction will not take place until the following month.
3. About two weeks into the next month, the deduction will finally appear on your PERA landing page.  You may need to click on PERA Plus text and then click on PERAPlus 401(k) link to open up your account.  You should automatically be placed in the target date fund that matches your approximate retirement date.
   
   
4. By default, the money will be placed into the target date fund that matches your approximate retirement year.  If this is acceptable, you can simply leave your money in this fund.  If you would like to select another fund, continue reading the instructions, below.
5. You can research funds by clicking on Investments>Fund Information.
   
   
6. Once you have decided on the fund(s) that you want, you can click on Account>Manage Investments>Change Elections.  Call PERA/Voya if you need help!
   
   
   
   
7. Type percentage(s) into the fund(s) that you want. Note: In this example, I typed 100% into the 2060 target date fund.  You may also check the box, at the bottom, that will change your CURRENT balances.  Click Next.
   
   
   
   
   
   
   
8. To process the transaction, you will need to click the Submit button.
   
   
   
   
   
   
9. A confirmation screen will appear.  Print or record the confirmation number.  It is not a bad idea to call PERA/Voya to confirm that you did everything correct.
   
   
   
   
   
   NOTE: These steps and screenshots can change at any time.  Please call PERA/Voya to cofirm this procedure.  
   
   
   
   

Nothing presented is to be construed as investment advice. Investment advice can be secured from a vetted Certified Financial Planner (CFP®).

When working with a CFP®, it is recommended that s/he sign a Fiduciary Pledge. More information, including questions to ask a planner and a downloadable Fiduciary Pledge, can be found here: https://403bwise.org/education/professional

As the author, I make no representations as to accuracy, completeness, currentness, suitability, or validity of any information on this blog and will not be liable for any errors, omissions, or delays in this information or any losses, injuries, or damages arising from its display or use. You are solely responsible for your own choices. There are absolutely no guarantees here.