New York State Deferred Compensation Plan Phone Number In Florida

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The document is a Deferred Compensation Agreement made between a Corporation and an Employee, detailing the terms under which the Employee will receive additional compensation post-retirement. This agreement aims to provide employees with post-retirement income beyond standard pension and insurance plans. Key features include retirement benefits, provisions regarding death before or after retirement, and conditions for termination of payments. Filling out the form requires the designation of an Employee's name, address, retirement age, and payment amounts. It also emphasizes the employee's obligation not to compete with the Corporation during their entitlement to payments. This form can be particularly useful for attorneys, partners, and employers looking to structure compensation packages, ensuring clarity and compliance with legal standards. Paralegals and legal assistants may also benefit by understanding the intricacies of providing future benefits while managing corporate liabilities. The form reinforces the importance of maintaining complete records and communication regarding employee benefits.
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  • Preview Deferred Compensation Agreement - Long Form
  • Preview Deferred Compensation Agreement - Long Form

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FAQ

Elective deferral limit The amount you can defer (including pre-tax and Roth contributions) to all your plans (not including 457(b) plans) is $23,000 in 2024 ($22,500 in 2023; $20,500 in 2022; $19,500 in 2020 and 2021; $19,000 in 2021).

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.

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.

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.

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.

If you remain employed with New York State or a participating employer when you are 59½, you may receive your Plan distributions while you are employed or continue to defer distributions until you retire.

You also have the option to defer receiving your benefits until a later date, but only until you reach age 73. If you choose this option, benefit payments must begin no later than April 1 in the calendar year after you become age 73.

The Deferred Compensation “Retirement Catch-Up” provision, available to employees in each of the last three years prior to normal retirement age, increases from $23,000.00 to $23,500, for a combined maximum contribution of $47,000 for calendar year 2025.

Financial Future Contacts ContactTelephone Deferred Compensation Plan Investment Providers Corebridge Financial 888-467-3726 Voya Financial 800-282-6295 Nationwide Retirement Solutions 800-949-4457 Schwab (Self-Directed Brokerage Account) 888-393-72726 more rows

Overseen by the New York State Deferred Compensation Board, the Plan is managed by a professional staff located in Albany, NY. The primary function of the Board office is to provide centralized oversight of all the Plan's operations and manage the Plan to a Board-approved annual administration budget.

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New York State Deferred Compensation Plan Phone Number In Florida