Good news! Covered union employees will be automatically enrolled in the Plan. If you are not a covered union employee but are eligible to participate, you can enroll by clicking Get Started. It’s one of the easiest and smartest ways to prepare for the future you want, no matter where you are on your saving journey.
Take a few moments to watch the video and review your plan features.
It's easy to get started at rps.troweprice.com.
¿Habla español?
Si tiene preguntas as o necesita ayuda, visite el sitio rps.troweprice.com, disponible 24 horas al día, o llame al 1-800-368-2768 para hablar con un representante de T. Rowe Price . Para acceder al servicio de TTY, llame al 1-800-521-0325. Para información general sobre los planes de jubilación visite rps.troweprice.com/espanol.
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Meetings and more
The more you know about retirement planning, the better. T. Rowe Price hosts on-site meetings, live and recorded webinars, and more to help you move forward confidently.
2024 webinar meetings
July 12, 2024: BIPOC and Retirement
July 26, 2024: Deferred Comp Retirement Distribution Options
August 9, 2024: Building an Investment Strategy
September 6, 2024: Deferred Comp Basics
October 17, 2024: Deferred Comp Retirement Distribution Options
October 31, 2024: Social Security Simplified
November 1, 2024: Roth Topics
November 15, 2024: Financial Wellness: Planning for the year
Attend a plan board meeting
The plan is governed by a board of directors that meets monthly to discuss plan business, issues, policy and design, and fund performance. The board highly values diverse perspectives, and all employees are welcome to attend. You can view past meeting agendas and minutes online.
When: Second Wednesday of each month; 2 p.m.–3:30 p.m.
Where: Chinook Building, 401 5th Avenue, Room 116, Seattle, WA 98104
Virtual: Microsoft Teams;
Meeting ID: 274 314 920 089;
Passcode: 5bfKyJ
Or call in directly (audio only):
+1 425 653 6586, 851907420#
Enrollment details
Covered union employees
If you are a covered union employee, you will be automatically enrolled in the Plan, at which point 3% of your before-tax pay will be deducted from your paycheck. If you haven’t already, you can enroll early and make changes to your account at rps.troweprice.com. You may contribute up to 100%* of your annual pay in before-tax contributions, Roth contributions, or a combination of the two, subject to IRS salary deferral limits. The minimum contribution you can make is 3% of your pay or $30.
*Mandatory payroll deductions are taken before salary deferrals.
Three things you should do
1. Set up your online account.
Keep your account safe by setting up secure access at rps.troweprice.com.
2. Make your enrollment elections.
Choose your contribution type and investments.
3. Name your beneficiary
Make sure your money will go to those you care about most.
Non-covered union employees
Eligible non-covered union employees can enroll in the plan immediately. And the sooner you enroll, the better. That’s because saving now gives your money the most opportunity to grow into the financial future you want. You may contribute up to 100%* of your annual pay in before-tax contributions, Roth contributions, or a combination of the two, subject to IRS salary deferral limits. The minimum contribution you can make is 3% of your pay or $30.
*Mandatory payroll deductions are taken before salary deferrals.
Getting started is easy! At rps.troweprice.com, we’ll help walk you through what you need to do to get started.
What should I do now?
1. Decide how much to save.
Keep your account safe by setting up secure access at rps.troweprice.com.
2. Choose your enrollment elections.
Follow our easy-to-use experience.
3. Name your beneficiary
Make sure your money will go to those you care about most.
You’re always in control.
You can enroll early or make changes to your contribution rate or investments at any time. Simply visit rps.troweprice.com or call us at 1-888-457-5770.
Contributions
Putting your money to work for you
Your contributions will be automatically deducted from your paycheck and added to your account.
Before-tax contributions
When you contribute to the King County Employees Deferred Compensation Plan, your deferrals come out of your paychecks before income taxes are taken out, which could help you save on taxes today. You won’t have to pay taxes on your contributions and associated earnings until you withdraw them from your account.
Each contribution type has different tax implications, and one may be more beneficial depending on your individual financial situation and goals.
Catch-up contributions
If you’ll be age 50 or older by the end of this year—and you plan to contribute the maximum allowed—you can also make catch-up contributions. The IRS catch-up contribution limit may vary each year.
Your before-tax and Roth contributions may not total more than 100% of your pay.** Your before-tax, Roth, and catch-up contributions are subject to IRS annual salary deferral limits.
Special catch-up for underutilized deferrals
You may contribute the special 457 catch-up contributions during the last three years before you reach “normal retirement age” as defined in the plan document. During these three years, you are able to contribute the regular IRS limit plus an amount that you were eligible to contribute in previous years but did not. Additionally, during those three years, you can contribute before‑tax and Roth contributions up to twice the IRS deferral limit amount in effect for that year.
For more information, contact your Plan Administrators at 1-206-263-9250. Please note that you cannot use both catch-up contribution options in the same calendar year, and you may not exceed the IRS catch-up contribution limits, which may vary each year.
*A qualified distribution is tax-free if taken at least 5 years after the year of your first Roth contribution AND you’ve reached age 59½, become totally disabled, or died. If your distribution is not qualified, any earnings from the Roth portion will be taxable in the year it is distributed. These rules apply to Roth distributions only from employer-sponsored plans. Additional plan distribution rules apply.
**Mandatory payroll deductions will be taken before salary deductions.
Automatic Increase boosts your savings.
If you can’t save as much as you’d like right now, the plan offers the T. Rowe Price Automatic Increase service to help you save more over time.
The plan automatically increases your contribution amount every January by 1%, up to a maximum of 15%. You can make changes to your pay settings or turn off the service at any time. You’ll receive more details about auto-increase prior to the effective date.
Why save now?
Because the earlier you start, the more opportunity your money has to grow. Saving early and consistently are two of the most important keys to building a solid financial future.
As the chart shows, saving even manageable amounts can grow into much more money over time. That’s because when you save through the plan, any earnings on your investments are put right back into your account, where they have the chance to grow as well.
It’s called compounding, and it’s how making a commitment to save a little bit today can really pay off down the road.
This chart assumes an annual salary of $40,000, which is not increased over time.
*Potential before-tax account balance in 30 years. This example assumes an annual return of 7% net of fees, compounded monthly in a tax-deferred account. This chart is for illustrative purposes only. This is not meant to represent the performance of the investment options in your plan. The contribution is assumed to be made at the beginning of the period.
All investments involve risk, including possible loss of principal.
Even more reasons to save
Reduce your taxes—today or in the future. Saving in the plan comes with tax advantages that can lower your taxable income.
Put retirement planning in your hands. Social Security alone likely won’t be enough to maintain the lifestyle you want in retirement.
Enjoy the ease. Your contributions are automatically deducted from your paycheck, so saving happens naturally.
Investment options
You can save your way.
Choose the approach that best suits your comfort with investing. Maybe you want to leave it to the pros, or maybe you want a more hands-on approach. For more details, such as the full fund lineup, investment descriptions, and fact sheets, visit rps.troweprice.com. To access fact sheets, log into your account, open the Research Investments tab, and select Investment Documents.
Age-based portfolio
If you want a portfolio that automatically adjusts over time, consider investing in a pre-assembled target date investment.
- Provides an investment mix in a single portfolio designed to target the year an investor retires—assumed to be age 65.
- Professionally managed throughout your working years and retirement.
Build-your-own portfolio
If you want more control, consider building your own portfolio.
- You choose from your plan’s professionally managed investment options.
- You manage your portfolio and asset allocation over time to suit your risk tolerance, time horizon, and financial goals.
- View the full fund lineup at rps.troweprice.com.
Self-directed brokerage
Your plan also offers a brokerage service that gives you access to hundreds of investment options beyond those available through your plan’s core investment options.
- For more information about this service, including fees and risks, visit rps.troweprice.com or call 1-888-457-5770.
- Schwab Personal Choice Retirement Account® (PCRA) is offered through Charles Schwab & Co., Inc. (Member SIPC), a registered broker-dealer. Charles Schwab & Co., Inc. is not affiliated with T. Rowe Price Retirement Plan Services, Inc. or any T. Rowe Price entity.
Loans and distributions
Loans
Sometimes life gets in the way of your savings goals. The Plan allows you to take a loan from your vested account balance. Before deciding to take a loan, it’s important to consider how it might impact your long-term savings. Visit the Loan Center to use our loan impact calculator and learn more about loan eligibility.
Distributions
When you switch jobs or retire, you don’t necessarily have to cash out your account.
You have four options:
- Leaving your account balance in the Plan
- Rolling over your account balance to another plan
- Rolling over your account balance to an individual retirement account (IRA)
- Cashing out your account balance
Understand the benefits, tax impact, and potential penalties of each option before your decide.
Hardships
The IRS gives plan participants tax breaks as incentives to save for retirement. The Internal Revenue Code allows hardship withdrawals if you experience an unforeseeable emergency.
Feel confident about your financial life—today and tomorrow
When you get started in the plan, you’ll get access to tools and resources that can help you take control of your daily finances and prepare for the future. Your retirement plan website offers a robust library of content, including calculators, webinars, articles, and more—all provided by the retirement experts at T. Rowe Price.
- Create a budget
- Model how increasing savings might impact your paycheck
- See your projected retirement income
- View debt management tips
Download our helpful checklist for a preview of the financial wellness content available.
Debt management and budgeting calculators
Webinars hosted by retirement experts
Research and market trends
Financial wellness
Back to the basics
Our video series on financial wellness helps you get back to the basics in order to move forward on your retirement journey.
Starting with a strong foundation
Boosting Your Savings Capacity
Aiming Toward Higher Targets
Managing Debt
Balancing Remaining Financial Needs
- What is a Workplace Retirement Plan?
- 6251288057001
- 6251288549001
- 6251290291001
- 6251288402001
We're here to help
Your plan website
rps.troweprice.com
Dedicated representatives
1-888-457-5770
TTY: 1-800-521-0325
Mobile solutions
T. Rowe Price Personal® app troweprice.com/mobilesolutions
Página de inicio
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Confidence Check-In® conversation
Discuss your goals with a certified retirement specialist.
1-855-733-4763
The Confidence Check-In® Conversation may result in discussion of products or services unrelated to your plan which are distributed or provided by T. Rowe Price Investment Services, Inc. or its affiliates; any such products or services are not overseen by your plan or your employer. Confidence Check-In is a trademark of T. Rowe Price Group, Inc.
202406-3635552
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