great-west retirement services sm 2010 hoosier.s.t.a.r.t. retirement conference tim berry – state...
TRANSCRIPT
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Great-West Retirement ServicesSM
2010 Hoosier .S.T.A.R.T. Retirement
Conference
Tim Berry – State Auditor
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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!
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Every Day – ReadEvery Week - TalkEvery Month – SaveEvery Year - Evaluate
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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
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• 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
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• 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
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• 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
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Education Counselors
John Vetroczky George Foster
Mike Faulk Danny Kight
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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
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• Web Site: www.hoosierstart.in.gov
• Voice Response System: KeyTalk® at (877) 728-6738
• Indianapolis Office: Monday – Friday, 8:30am – 4:30pm
• Hoosier S.T.A.R.T. Education Counselors
Account Management Options
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www.hoosierstart.in.gov
Joe Smith
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• 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
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• 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®
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• 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
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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?
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What Do You Get with Guidance, Advice and the Managed Account Services?
Do-It-Myself InvestorSM Help-Me-Do-It InvestorSM Do-It-For-Me InvestorSM
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
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Are There Any Costs For Guidance, Advice and the Managed Account Services?
Do-It-Myself InvestorSM Help-Me-Do-It InvestorSM Do-It-For-Me InvestorSM
Guidance
No Cost
Managed Accounts 0.60%
Annually
Advice $6.25 Per
Quarter
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Hoosier S.T.A.R.T. Administrative Fee
1980’s - 0.85% Annually
1990’s - 0.45% Annually
2000 - 0.30% Annually
2005 - 0.265% Annually
2009 - 0.26% Annually, Capped at $90,000, Fee waived for 12 months immediately following enrollment
2008-2010 effective rate of .195% with fee holiday
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How Do I Qualify?