At the end of July, state employees may notice a 2% increase to their paycheck. This increase is thanks to legislation that passed in April 2025 and is intended to help you with the cost of inflation.
One of the best things about getting a paycheck increase is that it gives you more flexibility with your budget.
Use the extra money to:
Are your spare dollars working for your future?
Whether you are already saving for retirement or just getting started, Washington’s Deferred Compensation Program (DCP) can help you build additional income for your future goals.
Most people choose to contribute to DCP with a percentage of their paycheck. And 3% is the default for those that start with DCP. But if you think you can spare a few more pennies per dollar, make that increase to your DCP now. Think of 10% of your salary as just 10 cents per dollar.
Watch this 3-minute video to see an example:
Don’t have an account? It only takes 3 minutes to enroll online.
How to change your contributions:
- Log in and select your DCP account
- At the Voya main menu select Accounts and then Washington State DCP
- Select Contributions & Savings, then Manage Contributions
- The page will show your current contribution rate. Select Update My Contributions to make the change.
Got a few minutes? Listen to the DCP podcast episode
This short episode explains how taxes are applied, the importance of contributing with a percentage of your income and tools for maximizing your investment.
You can also read a transcript of the episode.
