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Keeping Your Savings Safer, Together

Empower, the WDC’s recordkeeper, is committed to working with you to keep your data, identity, and retirement assets secure. Protecting you from cybersecurity threats — including theft, fraud and other risks — is among the highest priorities. 

Here are some things you can do to help keep your account secure:

1. Register your account online at wdc457.org (if you haven’t already)

2. Choose a strong username and password

3. Review all security alerts immediately

4. Review your accounts periodically. Visit Empower’s Security Center at wdc457.org for more security tips.


2023 IRS Contribution Limits Set

The amount of money WDC participants can save in their WDC accounts each year is set by the Internal Revenue Service and depends on a participant’s age. The maximum contribution amounts for calendar year 2023 were announced a few weeks ago. For most people, the maximum amount that can be saved in a WDC account in 2023 is $22,500. However:

  • If you are age 50 or older you can make annual catch-up contributions. For 2023, one can add an extra $7,500 for a total maximum contribution of $30,000 in 2022.
  • If you are within three years of your normal retirement age, you may use a special catch-up contribution, which allows you to save an additional $22,500. This allows you to save a total of $45,000 in 2023.

Note: Only one catch-up option can be used at a time -- you may not use both in the same year. Visit the IRS website for more information on retirement plan contribution limits.


Dodge & Cox Income Fund Class I to Dodge & Cox Income Fund Class X

On October 7 the Deferred Compensation Board replaced the Dodge & Cox Income Fund Class I option with the Dodge & Income Fund Class X option. The investment strategy and risk/potential reward characteristics of the Dodge & Cox Income Fund remain the same – this is a change in share class only. The new share class offers a lower expense ratio, which means it costs less to invest in the fund. The expense ratio for the new share class is 0.36%, compared to 0.41% for the previous share class.

Participants can make changes to their WDC investments online at wdc457.org or by calling the WDC at 1-877-457-9327 Monday-Friday, from 7 a.m. and 9 p.m. or Saturdays from 8 a.m. to 4:30 p.m., CST. The TTY number for those with a hearing impairment is 1-800-345-1833.


2022 Satisfaction Survey

The WDC annually surveys participants for their input on services and satisfaction with the program. The 2022 survey, distributed earlier this year, saw great engagement. Thank you for your participation! Watch for an update on how the WDC will utilize your feedback in a future edition of WRS News Online.