Nyc Deferred Comp Withdrawal Rules In Washington
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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).
For assistance or more information please contact NYCAPS at 212-487-0500.
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.
The DCP is a 457(b) deferred compensation plan. Your contribution can be made pre-tax and/or Roth, and you get to choose your investment funds from the Washington State Investment Board's menu of options. Your investments grow until you're ready to withdraw them at retirement.
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.
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!
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).