New York State Deferred Comp Log In In Broward

State:
Multi-State
County:
Broward
Control #:
US-00418BG
Format:
Word; 
Rich Text
Instant download

Description

Deferred compensation is an arrangement in which a portion of an employee's income is paid out at a date after which the income is actually earned. A Deferred Compensation Agreement is a contractual agreement in which an employee (or independent contractor) agrees to be paid in a future year for services rendered. Deferred compensation payments generally commence upon termination of employment (e.g., retirement) or death or disability before retirement. These agreements are often geared toward anticipated retirement in order to provide cash payments to the retiree and to defer taxation to a year when the recipient is in a lower bracket. Although the employer's contractual obligation to pay the deferred compensation is typically unsecured, the obligation still constitutes a contractual promise.
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  • Preview Deferred Compensation Agreement - Long Form
  • Preview Deferred Compensation Agreement - Long Form
  • Preview Deferred Compensation Agreement - Long Form

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FAQ

As always, you can speak with a Customer Service Representative about the Plan and your account(s) on the phone by calling at (212) 306-7760.

A team of 17 regional Account Executives who offer local on-site educational programs to employees of participating employers. A team of HELPLINE Representatives located in Troy, New York that is available Monday through Friday 8am until 11pm and Saturday from 9am until 6pm.

For most people, deferred compensation is a good way to use your income earning years as a direct means to supplement your pension and Social Security benefits when you retire and build a bright financial future.

Non-Qualified distributions are subject to all applicable taxes and a 10% early withdrawal penalty. Funds can be rolled over to another Roth 401(k), Roth 457, Roth 403(b), or Roth IRA.

Contact us Phone. Helpline: 1-800-422-8463. Monday-Friday 8 a.m. – 11 p.m. ET. Saturday 9 a.m. – 6 p.m. ET. Email. participant.service@nysdcp. Don't include personal information such as Social Security number. 1 on 1 support. Meet your Account Executives, attend a webinar or schedule an appointment.

The Plan differs from other defined contribution retirement plans (like a 401(k) or 403(b)), because it is designed and managed with public employees in mind. The New York State Deferred Compensation Board establishes and administers the Plan policies.

The Deferred Compensation Plan has come to your phone! The NYC Deferred Compensation Plan has launched a new mobile web application (“mobile web app”) designed to provide you with easy access to your NYC Deferred Compensation and NYCE IRA account information - even when you're on-the-go!

Qualified retirement plans, deferred compensation plans and individual retirement accounts are all different, including fees and when you can access funds. Assets rolled over from your account(s) may be subject to surrender charges, other fees and/or a 10% tax penalty if withdrawn before age 59½.

The Plan is a supplemental retirement savings plan. New York State retirement plans will generally provide your primary retirement income. The Plan differs from other defined contribution retirement plans (like a 401(k) or 403(b)), because it is designed and managed with public employees in mind.

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New York State Deferred Comp Log In In Broward