The DRB is currently experiencing an outage with myRnB, affecting all applications including AlaskaCare Employee Open Enrollment. We are actively working to restore access but do not know at this time when service will be restored. The Open Enrollment period for Employees will be extended due to this outage. Thank you for your continued patience.
Edited by LM 11/9/23
Important Information Regarding Managed Account Services
The Division of Retirement and Benefits contracted Empower Retirement Services (Empower) to provide professional, personalized investment advice to participants in the Defined Contribution Retirement (DCR), Supplemental Annuity (SBS-AP), and Deferred Compensation (DCP) plans. Empower’s managed account service is called “My Total Retirement.”
What is My Total Retirement Services?
My Total Retirement is a managed account service designed to help individuals achieve their goals while considering their full financial picture.
A managed account is not a mutual fund or a target date fund or an investment. It is a service designed to provide individuals with financial advice and help you decide whether you should invest in such a fund based on a broad view of your financial and other life circumstances. Managed accounts can help people during periods of economic turmoil and help navigate factors such as rising rates and inflation.
Recently, the Alaska Retirement Management Board (ARMB) engaged its third-party investment consultant, Callan, to conduct an analysis of My Total Retirement services which included a comparison of investment performance to the plans’ default investment option, the Target Date funds. As a result of this analysis, the ARMB passed Resolution 2023-18 on October 12, 2023, recommending that My Total Retirement be closed to new participants. The ARMB staff is working with the Division and others to develop additional recommendations with respect to managed accounts.
The Division and Empower are committed to ensuring that plan participants receive the best possible investment products and advice services to help them plan and prepare for retirement.
If you have questions about your plan, managed accounts, or receiving investment advice, please contact Empower at (800) 232-0859 or visit their website at Empower.com .
For more information about the Alaska Management Retirement Board and Resolution 2023-18, please visit the ARMB website .
MyRnB Outage
The DRB is currently experiencing an outage with myRnB, affecting all applications, including AlaskaCare Employee Open Enrollment and employers’ ability to submit payroll files to DRB.
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DVA Open Enrollment is Still Going On!
DVA ends November 27 @ 5 p.m. AlaskaTime. Review the plan options and enroll now!
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AlaskaCare Employee Open Enrollment Period Extended
The DRB is currently experiencing an outage with myRnB, which affects the AlaskaCare Employee Open Enrollment portal.
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