New York State Deferred Compensation Plan Phone Number In Queens

State:
Multi-State
County:
Queens
Control #:
US-00418BG
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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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FAQ

Please know that your assets that started and grew in your regular Plan account or were rolled over from another 457 deferred compensation plan are not eligible for a withdrawal until you leave public service, become age 59 1/2, or are needed for an unforeseeable emergency withdrawal.

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 Customer Service Representative about the Plan and your account(s) on the phone by calling at (212) 306-7760.

Contact your agency health benefits or payroll office or NYCAPS Central at (212) 487-0500. Department of Education employees should contact HR Connect at (718) 935-4000: For questions concerning eligibility and enrollment.

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).

Client Service Center Information: 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.

You can: Call the HELPLINE at 1-800-422-8463 and an Account Executive will help you.

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.

More info

A voluntary retirement savings plan that provides quality investment options, investment educational programs and related services. NYC Deferred Compensation Plans (DCP).DCP is a defined contribution plan established in 1986 and is available to all New York City employees. Submit your forms as follows: 1) Inquries and questions can be sent via email to the Plan. Additionally, a PDF copy of the response must be e-mailed to James Reeves: james. I'm a reasonably well-informed investor and it just seems to me that the Deferred Compensation Plan is an unimpressive investment vehicle. Click below for up-to-date forms and documents for use in submitting address or name changes, W4 forms for adjusting withholding status when needed.

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New York State Deferred Compensation Plan Phone Number In Queens