Great-West Retirement Services SM 2010 Hoosier.S.T.A.R.T. Retirement Conference Tim Berry – State Auditor.

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Position descriptions

Presentation transcript:

Great-West Retirement Services SM 2010 Hoosier.S.T.A.R.T. Retirement Conference Tim Berry – State Auditor

Maintain a long-term strategy of regular investing in your retirement plan – no matter what is happening in the market. People rush to buy everything on sale - - except for stocks!

Every Day – Read Every Week - Talk Every Month – Save Every Year - Evaluate

Real Funds, Real People, Real Important Introduce you to the people behind the plan –Investment Committee –Investment Consultant –Administrator / Record Keeper –Education Counselors Introduce you to the tools available –Education Counselors –On-line Resources Introduce you to the funds within the plan –Core Funds –Specialty Funds –Target Date Funds

Hoosier S.T.A.R.T. Investment Committee –Tim Berry, State Auditor –Richard Mourdock, State Treasurer –Adam Horst, State Budget Director (designee of Governor Daniels) –Steffanie Rhinesmith, Chief Investment Officer, Richard M. Fairbanks Foundation (appointed by the State Board of Finance) –Martha Lake, Howard County Treasurer (appointed by the State Board of Finance

Investment Committee has hired Capital Cities, LLC as the plan’s investment consultant –Capital Cities is an Indiana company –Capital Cities provides a prudent process for evaluating and monitoring the Hoosier S.T.A.R.T. plan Ongoing review of the Hoosier S.T.A.R.T. plan Develop and review investment policy Ongoing investment performance review

Auditor of State serves as the plan administrator –Great West has served as the administrator since 2005 –Great West provides record keeping and educational services to plan members –Decentralized approach –Independence – no conflicts of interest

Education Counselors John Vetroczky George Foster Mike Faulk Danny Kight

Retirement Education Counselor Pre-Retirement Planning Post-Retirement Counseling Retirement Plan Review Valuable Industry Resource Has serviced Plan since inception Conducts group and individual meetings throughout the entire state Sharri Condon

Web Site: Voice Response System: KeyTalk® at (877) Indianapolis Office: Monday – Friday, 8:30am – 4:30pm Hoosier S.T.A.R.T. Education Counselors Account Management Options

Joe Smith

Dreamtracker Paycheck Comparison Reality Investing Advisory Services –Online Investment Guidance (Do-It-Myself) –Online Investment Advice (Help-Me-Do-It) –Managed Account (Do-It-For-Me) Online Tools

Assess you current savings strategy to see if you’ll meet your goals. Understand how rate of return and age at retirement can affect your savings. Determine different savings strategies if it looks like you won’t meet your retirement income goals. Develop a Retirement Income Strategy. Convenient access to your account to implement your new strategies DreamTracker®

Demonstrates the effect of pre-tax savings on your take- home pay. Allows you to enter other pre and post-tax payroll deductions in order to more accurately replicate your paycheck Compare alternate savings rates and evaluate the impact on your take-home pay. Convenient access to your account to implement your new strategies Paycheck Comparison

Reality Investing Advisory Services Advised Assets Group, LLC Account Management and advice based on your “reality”. Schedule a meeting with an Education Counselor “What do I need to get started?” - Paystub - Outside asset information - PERF statement - Spousal information?

What Do You Get with Guidance, Advice and the Managed Account Services? Do-It-Myself Investor SM Help-Me-Do-It Investor SM Do-It-For-Me Investor SM Guidance Personalized Retirement Readiness Forecast Personal Service from Dedicated Education Center On-line service Asset Allocation Advice Managed Accounts Personalized Retirement Readiness Forecast Personal Service from Dedicated Education Center Portfolio Specific Advice Automated Portfolio Monitoring & Rebalancing Enrollment, Transactional, Quarterly and Annual Participant Communication Packages Advice Personalized Retirement Readiness Forecast Personal Service from Dedicated Education Center On-line service Portfolio Specific Advice Transactional Automation

Are There Any Costs For Guidance, Advice and the Managed Account Services? Do-It-Myself Investor SM Help-Me-Do-It Investor SM Do-It-For-Me Investor SM Guidance No Cost Managed Accounts 0.60% Annually Advice $6.25 Per Quarter

Hoosier S.T.A.R.T. Administrative Fee 1980’s-0.85% Annually 1990’s-0.45% Annually % Annually % Annually % Annually, Capped at $90,000, Fee waived for 12 months immediately following enrollment effective rate of.195% with fee holiday

How Do I Qualify?