Nys Deferred Comp Withdrawal Form Online In Nassau
Description
Form popularity
FAQ
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.
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.
You can: Call the HELPLINE at 1-800-422-8463 and an Account Executive will help you.
You may keep your contributions in the Plan and continue to build savings for retirement. However, you may withdraw your contributions if you: Have a Plan account balance of less than $5,000, exclusive of any assets you may have in a rollover account, AND. Have not contributed to the Plan in the last two years, AND.
The New York State Deferred Compensation Plan is a state-sponsored employee benefit for state employees and employees of participating employers. Available 24 hours a day. Personalized assistance is available 8 a.m. to 11 p.m. Monday through Friday and 9 a.m. to 6 p.m. Saturdays, except holidays.
You can't borrow from an IRA, and early withdrawals could incur taxes and penalties.
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.