New York State Deferred Compensation Plan Annual Report In Miami-Dade
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WHAT DOES DEFERRED COMPENSATION MEAN TO ME? It means that you may defer a portion of your salary on a pre-tax, or after-tax basis. The amount of your salary that you defer pre-tax to the Plan is not subject to current Federal or New York State income taxes.
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
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 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.
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.
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.
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.
It is also known as a deferred compensation or deferred comp plan here's how it typically works youMoreIt is also known as a deferred compensation or deferred comp plan here's how it typically works you select a specific amount or percentage of your income to be contributed from each paycheck to your
The regular yearly contributions amount for Deferred Compensation will increase from $23,000 to $23,500. The catch-up contribution limit that generally applies for employees aged 50 and over remains at $7,500 for 2025 for a combined maximum contribution limit of $31,000 in 2025.
Traditional pension plans, such as those offered by NYSLRS. 401(k), 403(b), 457(b) and other similar plans. Guaranteed monthly payments for life. Payments are not guaranteed to last through retirement.
