Welcome to the New York State Deferred Compensation Plan. The Plan is a voluntary, long-term retirement savings program
designed for your retirement needs. The amount you contribute to the Plan is deducted from your pay and any investment
returns grow on a tax-deferred basis.
Contributions to the Plan: The minimum contribution to the Plan is 1% of your gross pay (at least $10 per pay period). The
maximum contribution you may make in 2017 is $18,000. If you are at least age 50 prior to the end of the current calendar
year, you are eligible to contribute a maximum of $24,000. If you are within four years of the date that you are able to retire
without a reduction in pension benefits, you may be eligible to make additional contributions. Contact an Account Executive
or HELPLINE Representative at 1-800-422-8463 for more information and the forms to use the higher limits.
Pre-Tax Deferrals: The amount you contribute to the Plan will be deducted from your pay on a pre-tax basis for federal and
New York State income tax purposes, thereby reducing your taxable income for the calendar year. The investment returns
also grow on a tax-deferred basis and income taxes are paid only when money is withdrawn from the Plan.
Roth Contributions: These deductions are made from your pay on an after-tax basis. Contributions grow tax deferred, but
when money is distributed from the Plan, qualifying distributions are not subject to federal or New York State income taxes.
Processing Time Frame: Enrollments are processed upon receipt; however, federal law states that deferrals may not begin
before the start of the next calendar month, unless you make your election prior to your first day of service. You may change
or cancel your deferral amount at any time, but these changes may also be subject to these timing limits.
Next Steps: Please read the bullets below to understand the basics of the Plan and then complete your application.
I understand that:
• Withdrawals from the Plan may be taken only upon separation from employment, absence due to qualified military
service, death, an unforeseeable financial emergency, attainment of age 70½ , from an account that has been in
inactive status for two years and has a balance of $5,000 or less (inclusive of any outstanding loan balance but
exclusive of assets in a rollover account) or as a loan.
• Participation in the Plan is not intended to replace a regular savings program necessary to cover day-to-day
unanticipated financial expenses. Plan distributions for “Unforeseeable Financial Emergencies” are strictly regulated
by federal laws. Should I need an unforeseeable emergency distribution, the request must be made in writing and
detail the circumstances supporting the financial emergency. If my request is denied, I may appeal to the Review
Committee.
• I may enroll in the Plan for the purpose of transferring assets from another 457(b) deferred compensation plan, a
403(b), 401(k), 401(a), Keogh plan, a traditional or rollover IRA without becoming an active participant.
• Unless I have opted for a paper statement, I will receive an email notification when my quarterly statement,
Quarterly newsletter and investment performance report are available on the Web site. Please call the HELPLINE
promptly with any changes.
• If my employer has opted to allow Roth contributions, contributions to the Roth account may not be reclassified
after made. The investment allocation for Roth contributions will be the same as for any pre-tax deferrals.
Distributions of Roth contributions must meet the same withdrawal requirements as pre-tax withdrawals.
• There is an administrative fee deducted from my Plan account on a semi-annual basis as outlined in the Plan’s
Investment Options Guide. These fees are subject to change.
Information relating to the Plan or a copy of the Plan Document may be obtained by calling the HELPLINE at 1-800-422-
8463 or visiting the Plan’s Web site at www.nysdcp.com.
DC-4009-0617
