Tributions and/or Roth (after-tax) contributions. However, the combined deferral cannot exceed $17,500. In the 401(k) Plan, you may choose to make pre-tax contributions and/or Roth (after-tax) contributions. However, the combined deferral cannot exceed $17,500. You may choose to put money in the 457 Plan or the 401(k) Plan, or both, for a combined deferral of $35,000, or $46,000 if age 50 or older. Rollovers into the Plan Rollovers accepted only from another Pre-tax 457 plan Rollov.
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How to fill out the Nycdcp online
The New York City Deferred Compensation Plan (NYCDCP) is designed to help users save for retirement through convenient payroll deductions. This guide will provide clear, step-by-step instructions on how to complete the NYCDCP enrollment form online.
Follow the steps to successfully complete your enrollment in the NYCDCP.
- Click ‘Get Form’ button to obtain the form and open it in the editor.
- Provide your personal information by filling in the participant information section. Make sure to include your full name, Social Security number, date of birth, and contact numbers.
- In the enrollment & deferral percentage information section, indicate your desired contribution percentages for the 457 and/or 401(k) plans. Be aware of the maximum limits and ensure your total does not exceed the allowed percentages.
- Choose your investment allocation. You can either select a pre-arranged portfolio or create your own by entering your desired percentages for each investment option. Ensure your total allocation equals 100%.
- Designate your beneficiaries in the beneficiary election section. Specify the names and contact details of your primary and contingent beneficiaries, indicating the percentage each should receive.
- Review your completed form for accuracy and completeness before submission.
- Sign the form, indicating your agreement to the participation conditions and providing permission for salary deductions.
- Submit your completed form following the instructions provided within the document, ensuring you send it to the appropriate address.
Complete your NYCDCP enrollment forms online today to secure your financial future.
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How do I contact Nycdcp?
If you have any questions, please contact Eva Merlo at 212-720-3325 or by email to EMerlo@planning.nyc.gov.
What is the interest rate for a deferred comp loan in NYC?
The Deferred Compensation Loan Program will charge an administrative fee of $50.00 plus a maintenance fee of $8.75 per quarter ($35.00 per year) and will only issue loans of you repay them in five (5) years. The interest rate will be prime rate plus 1% (currently 7.5%) which will be paid back into member's accounts.
What is Nycdcp?
General Information. The New York City Deferred Compensation Plan (DCP) allows eligible New York City employees a way to save for retirement through convenient payroll deductions. DCP is comprised of two programs: a 457 Plan and a 401(k) Plan, both of which offer pre-tax and Roth (after-tax) options.
What are the fees for New York State Deferred Compensation Plan?
Plan Costs The Deferred Compensation Plan is a benefit offered by the City of New York to its employees, it is a wholly self-funded plan paid for by participants' fees. The current administrative fee is $20.00 per quarter, regardless of whether a participant has a 457 account, a 401(k) account, or both.
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