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Upcoming Events
Office of Benefits & Retirement Services

Spanish Language Seminar - Managing Your Credit and Debt
Evette Caceres from Lincoln Financial will be hosting seminars in Spanish on Managing Your Credit and Debt. This is an informative class to help advance financial education on managing money to help you be able to save more for retirement.  The seminars will be held on December 1 at the Kelly Leadership Center in room 3011 at 10:30 a.m., 11:45 a.m., 2 p.m. and 3:30 p.m.  Please confirm your attendance with Evette Caceres at  or call 1-571-299-8071.  For more information click here.

GESTIÓN DEL CRÉDITO Y DE LA DEUDA - Conseguir el equilibrio entre gastos y ahorros.

Avance su educación financiera un paso más coneste breve curso sobre cómo gestionar su crédito y
sus obligaciones financieras
1 de diciembre de 2015
Kelly Building (14715 Bristow Rd), Sala 3011
10:30 a.m., 11:45 a.m.,
2:00 p.m. o 3:30 p.m.
Confirme su asistencia contactando con EvetteCaceres en  o llamando al 1-571-299-8071.  Para mas informacion haz clique aqui.

VRS Hybrid Consultations Scheduled
Steven Scott, representative from ICM-RC will be available monthly, by appointment only, at the Kelly Leadership Center in room 3208 for individual consultations with PWCS employees regarding their Hybrid VRS accounts. Upcoming dates will be December 17, January 21 and February 11 .  We will schedule half-hour appointments from 9 am - 5 pm.  THIS IS FOR VRS HYBRID MEMBERS ONLY for information regarding the defined contribution portion of the Hybrid plan with ICMA-RC.  These appointments would not be valid for VRS Plan 1 or Plan 2 members who do not hold ICMA-RC accounts.  Please contact Jill Argueta at or 703.791.8927 to schedule your appointment.  Please refer to the Benefits Web page calendar on the right for these and all future dates.
 The December 15th deadline for Hybrid Voluntary Contributions is around the corner.  When you contribute more, so does your employer.  In addition to mandatory contributions, members may contribute up to an additional 4 percent in 0.5 increments to the defined contribution component of the Hybrid Retirement Plan each month.

Benefits of making voluntary contributions include:
  • An employer match (see chart below to see how much)
  • A choice of investment options
  • Investments that could generate compounded earnings, and further earnings on those compounded earnings 
Employee Mandatory Contributions:
Hybrid 401(a)
Employer Mandatory Contributions:
Hybrid 401(a)
Employee Voluntary Contributions:
Hybrid 457
Employer Matching Contributions:
Hybrid 401(a)
1.00% 1.00% 0.00% 0.00%
    0.50% 0.50%
    1.00% 1.00%
    1.50% 1.25%
    2.00% 1.50%
    2.50% 1.75%
    3.00% 2.00%
    3.50% 2.25%
    4.00% 2.50%

Hybrid Retirement Plan Members: Why You Should Take Advantage of Voluntary Contributions

Who would you rather be?

Kendra joined the Hybrid Retirement Plan when she was 24 and worked for 30 years. She started making voluntary contributions of 2.5 percent right away to receive an employer match of 1.75 percent. Kendra stuck to a budget and increased the percentage over the years until she was contributing the maximum of 4 percent, receiving a maximum employer match of 2.5 percent. By the time she retired, she had close to $249,000 in the defined contribution component of her account. *
Mario started work at the same time as Kendra and worked down the hall from her. He liked eating out several times a week and couldn’t do without his double-shot espresso every morning. Mario didn’t think he could afford a voluntary contribution. Ever. Wasn’t he saving enough through the mandatory contributions? At retirement, with only mandatory contributions Mario had an account balance of about $58,000. *

*For illustrative purposes only, assumes a 6 percent effective annual return after 30 years.

Small Changes Now Can Pay Off Later

Voluntary contributions are a key component of retirement savings for hybrid members:
  • You receive a match from your employer. If you invest in the defined contribution component of your Hybrid Retirement Plan (up to 4 percent per month), your employer matches a portion of that contribution (up to 2.5 percent).
  • You reduce your taxes. Your funds are tax-deferred until you withdraw them.
  • You invest your contributions and your employer’s contributions to potentially earn more money.
  • You can increase the percentage of your voluntary contribution amount to be effective at the beginning of each quarter.
Start today! Visit the Account Log-in page or call Investor Services at 1-877-327-5261 and select option 1 to start or increase your voluntary contributions.
Retirement Seminar in November
Retirement Seminar November 10

The Office of Benefits & Retirement Services held a Retirement Seminar on Tuesday, November 10, at the Kelly Leadership Center. The seminar was designed for employees who are considering retirement within the next two years. Valuable information was presented by a representative from the Virginia Retirement System (VRS), Lincoln Alliance retirement consultants, and Office of Benefits & Retirement Services staff. Topics included VRS retirement, retiree health insurance, Retirement Opportunity Program (ROP), supplemental retirement benefits and  social security administration.

The information presented at the seminar is available at this link: Retirement Seminar Presentation

Lincoln Financial referrenced some  handouts for retirement planning as well:
Retirement Planning Checklist
Living Expenses Worksheet
Income Source Worksheet
Risk QA Profile

 For questions regarding retirement planning, you can visit the VRS website at, or contact Susan Golladay in the Office of Benefits and Retirement Services at 703.791.8772 or


Dependent Care Reimbursements for FSA

Flexible Spending Benefits for Dependent Care Reimbursements

Prince William County Public Schools offered the “mySourceCard” debit card as a part of the Flexible Spending Health Care Reimbursement Program for the Plan Year beginning July 1, 2015.  As a point of clarification, Dependent Care expenses are not an allowable expense for the debit card.  Our plan does not allow these expenses to be processed via the mySourceCard.  The mySourceCard allows you to pay for Health Care Reimbursement expenses with the swipe of a card!
If you have questions on claim processing and eligible expenses, contact Sheakley at 800-877-6630 or email:  Directions on claim processing are available on the Benefits Web Page.

Sheakley FSA Filing Deadline for 2014-2015
Flexible Spending Participant Filing Deadline
All 2014-2015 Flexible Spending Plan participants must file claims for by September 30, 2015 for the plan year ending June 30, 2015.  Claims must be filed directly with Sheakley, the plan administrator.  You may locate the claim forms at, or they may be found on the Benefits page at under Forms.
  • Employees who are unable to spend their HEALTH CARE REIMBURSEMENT funds prior to the end of the 2014-2015 plan year, June 30, 2015, have an extra 2 1/2 months, after the plan year-end, to incur eligible expenses before forfeiting unused funds. It is essential to understand that the use-it-or-lose-it rule still exists, but the extension greatly softens the blow by allowing you more time to use your unspent FSA balances.You have until September 15, 2015 to INCUR qualified health care expenses to exhaust your 2014-2015 plan year balance.
  • The 90 day grace period deadline will end September 30, 2015 to FILE YOUR CLAIM for reimbursement of any health care expenses you want applied to the 2014/15 plan year.    
Note: The 2 ½ month extension does not apply to terminated employees, or participants who have terminated their coverage during the plan year due to a qualified event.
If you have any questions regarding your claims submission or payments please contact Sheakley at 800-877-6630.

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