457 Deferred Compensation Plan Withdrawals Nyc In Allegheny
Description
Form popularity
FAQ
If you have any questions, please email only to: ZoningVerificationLetter@planning.nyc. ATTENTION: As the Department of City Planning takes precautions against the spread of COVID-19, please expect some delays in processing times for zoning verification letters. We apologize for the inconvenience.
All employees, non-Medicare retirees, and their non-Medicare dependents enrolled in a health plan offered by the City's Health Benefits Program receive coverage for certain categories of prescription drugs. For questions regarding the PICA prescription drug benefit program please call 1-800-467-2006.
Please know that your assets that started and grew in your regular Plan account or were rolled over from another 457 deferred compensation plan are not eligible for a withdrawal until you leave public service, become age 59 1/2, or are needed for an unforeseeable emergency withdrawal.
The New York City Deferred Compensation Plan (DCP) allows eligible New York City employees a way to save for retirement through convenient payroll deductions. This plan is administered by The Office of Labor Relations (OLR).
The 457 Plan's emergency withdrawal provision is for "unforeseeable emergencies" defined as "...a severe financial hardship to a Participant resulting from a sudden and unexpected illness or accident of the Participant or of a dependent (as defined in Section 152(a) of the Internal Revenue Code) of the Participant, ...
As always, you can speak with a Deferred Compensation Plan Customer Service Representative about the Plan and your account(s) on the phone by calling at (212) 306-7760, 9am to 5pm, Monday through Friday, except holidays.
Distribution of earnings from the Roth 457 and 401(k) Plan before age 59½ or for a period shorter than five taxable years are subject to all applicable income taxes (Roth 401(k) distribution is also subject to penalties).
Client Service Center Information: As always, you can speak with a Deferred Compensation Plan Customer Service Representative about the Plan and your account(s) on the phone by calling at (212) 306-7760, 9am to 5pm, Monday through Friday, except holidays.
As always, you can speak with a Deferred Compensation Plan Customer Service Representative about the Plan and your account(s) on the phone by calling at (212) 306-7760, 9am to 5pm, Monday through Friday, except holidays.
