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NYS Deferred Compensation Plan Template

NYS Deferred Compensation Plan Template

An NYS Deferred Compensation Plan is a retirement savings plan for employees of New York State and local governments. It allows a portion of each paycheck to be set aside and saved for retirement. Employees can choose how much to contribute, and the plan offers flexibility, including options for loans or early withdrawals under certain conditions. It's designed to help public workers build additional retirement savings alongside pensions or Social Security.

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NYS Deferred Compensation Plan for outlining retirement savings options for NYS employees

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Frequently asked questions

This NYS Deferred Compensation Plan document allows employees to update contribution amounts, request a withdrawal or make beneficiary changes to their retirement account. It supports key account management tasks like submitting a loan request, initiating an emergency withdrawal or adjusting plan details.
New York State employees who want to manage their deferred comp account—whether to request a loan, update personal details or withdraw funds—need to complete this document.
The completed document can be submitted by email, through a secure portal or by mail. Check the instructions provided with the document or reach out to your HR department.

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