The Delaware Retirement Savings Plan is one of your most important employee benefits; it provides you with the opportunity to save money for retirement on a tax-deferred basis through the convenience of a pre-tax payroll deduction. Contributions and any earnings are tax-deferred and will be taxed as ordinary income when distributed, and are subject to any applicable tax penalties. There is also a post-tax Roth option. The Plan offers a variety of investment options including access to lower-cost funds, online educational planning tools and resources, the interactive online experience myOrangeMoney® and the support of local financial advisors from Voya Financial. They are available to meet with you one-on-one in person at one of our locations or over the phone and can provide additional support as you plan and save for the future. Use the link above to schedule your appointment.
Investment adviser representatives and registered representatives of, and securities and investment advisory services offered through, Voya Financial Advisors, Inc. (member SIPC).
Special Message from Voya+
There is no way to predict the markets. While any fluctuation may tempt you to make a hasty decision, think about staying the course and keeping a well-balanced and diversified portfolio that accommodates your risk tolerance and savings goals. It is also important to identify your objectives and to stay focused. Keep in mind that saving for retirement involves investing for the long-term. Voya is closely monitoring the volatility in the market and providing valuable analysis and insights to our customers and distribution partners. Visit our blog to learn more.
IRS Announces New Retirement Plan Limits for 2020+
The annual contribution limit for both the State of Delaware’s 457(b) and 403(b) plans increased by $500 to $19,500. Similarly, the catch-up contribution for those who are age 50 or older in 2020 also increased $500 to $6,500, allowing these individuals to save up to $26,000 in 2020. For additional details, visit the Voya IRS Limits website. To change your contribution amount log into your account online, call Voya toll free at (800) 584-6001, or schedule an appointment with a local plan representative.