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Colleen C. Davis
State Treasurer


Coronavirus (COVID-19) Updates from the Office of the State Treasurer



A message from State Treasurer Colleen C. Davis:

Our office is working quickly to adapt to the new realities and challenges brought on by the coronavirus. We are working hard to maintain service levels during this difficult and uncertain time while minimizing potential disruptions. I assure you that our team remains committed to providing high quality, responsive service to state agencies, employees and business partners. We appreciate your patience and understanding as we work to implement new and innovative ways to meet your needs throughout the duration of this crisis.

 

We will update this page regularly to address some common concerns and operational considerations.

 

Thank you,

 

Colleen C. Davis

State Treasurer

Where can I get more information on Coronavirus in Delaware?

The Delaware Department of Health and Social Services is providing regular updates on the situation. Visit de.gov/coronavirus for the most up-to-date information.

What precautions is OST taking to stay safe?

The health and safety of our constituents and employees are a top priority. We are implementing the following preventative measures until further notice:

  • Advising OST staff to work remotely to prevent community spread of coronavirus
  • Requiring any employee who is sick or showing symptoms to take advantage of the Governor’s recently introduced emergency leave benefits
  • Closing the reception at our Dover office to visitors.  Any organization requesting special handling of a check will have the check returned to them via state mail.   All other checks will be distributed via US Mail.

I’m worried about my DEFER account. Who can I talk to?

It is important for employees to know OST and Voya remain committed to serving you. If you have concerns regarding recent market volatility,  please feel free to reach out with questions or concerns.
  • You may reach out to the local support team.
  • You may access your accounts anytime, anywhere – you can securely access your accounts at www.delawaredefer.com or the Voya Retire app.
  • Set up a virtual appointment – You can schedule a virtual appointment with one of our DelawareDefer plan representatives by clicking here.
  • You may reach Voya’s Client Service Center at 1.800.584.6001

How should I react to the market volatility in my DEFER account?

There is no way to predict the markets. While any fluctuation may tempt you to make a hasty decision, think about staying the course and keeping a well-balanced and diversified portfolio that accommodates your risk tolerance and savings goals. It is also important to identify your objectives and to stay focused. Keep in mind that saving for retirement involves investing for the long-term. Voya is closely monitoring the volatility in the market and providing valuable analysis and insights to plan participants. Visit Voya’s blog to learn more.

Can I access my 403(b) or 457(b) account funds as a result of the Covid-19 pandemic?

Perhaps. The Plans Management Board, which oversees the State of Delaware’s deferred compensation plans recently authorized eligible 403(b) and 457(b) participants to receive coronavirus-related distributions (CRD) of up to $100,000, as permitted by the federal Coronavirus Aid, Relief, and Economic Security Act. Participants that have been financially impacted due to the Covid-19 pandemic may be eligible. Participants with eligibility or other questions about CRDs should call the State’s program administrator, Voya Financial, for more information. 1-800-584-6001.

Will I still get paid?

Yes, there will be no interruption to State payments.

The governor has extended emergency leave options if you need to take time off to take care of yourself or a loved one. For more about emergency leave options, please see the Coronavirus FAQs published by the Department of Human Resources.

Will I still be able to pick up checks?

No, we have closed our reception window to public visitors until further notice. Any organization requesting special handling of a check will have the check returned to them via state mail.   All other checks will be distributed via US Mail.

My agency was scheduled to have a meeting with OST and JP Morgan about the banking conversion. Are those meetings still going to occur?

Yes, but we may need to reschedule as we work to assess and cover our immediate operational needs over the next two weeks. We will be in touch directly with your agency if we need to reschedule.  Please contact Fiah Kwesseu or Lisa Embert for questions about the status of banking projects.

Will all daily deposit entries still be made into FSF?

Yes, daily deposit entry into FSF will continue as usual.

Still have questions?

We’re here to help. Our employee directory can be found here. Please send us a message at State.Treasurer@Delaware.gov with questions or concerns.

 

 

 



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