How Do I Notify You of My Military Leave?

When you volunteer or are required to take military leave, please contact us to update your status. An Account Executive will walk you through the information we’ll need and answer any questions you may have.

HEART Act

The Heroes Earning Assistance & Relief Tax Act (HEART Act) contains two specific provisions related to the Plan. First, the HEART Act provides that employees who are absent from employment due to active duty military service and receive differential wage payments paid by their employer are to be treated as active employees for the purposes of participation in the Plan. This means that the differential wage payments must be treated as compensation that is eligible for deferral to the Plan.

Second, the HEART Act provides that employees who are absent from employment for qualified military service must be treated as having been severed from employment for the purpose of being allowed to take a distribution(s) from his or her Plan account.

It is important to note that any eligible plan participant who elects to receive such a distribution in accordance with the HEART Act must be prohibited from making additional deferrals to the Plan for a period of six months after the distribution.

Loans and repayments

If you’re in the process of repaying a loan when you are called to active duty, you may be able to suspend making repayments while on active duty. If repayment is deferred, the outstanding loan balance – including interest and any fees – will be recalculated when you return from active duty. You can then resume payment on your loan under a new loan agreement or pay the balance in full. To suspend loan payments, we’ll need a copy of your military orders before you leave for service.

Qualified military service make-up deferrals

When you return from active duty, you’re also eligible to make Qualified Military Service Make-up deferrals for up to the same amount that you could have deferred had your New York State employment not been interrupted by your military service. You can begin your make-up deferrals in the calendar year that you return from military service, but you might benefit by waiting until January of the next calendar year. That way you can spread out the deferral amount over a full year instead of just a few months.

To take advantage of Qualified Military Service Make-up deferrals when you return, you’ll need the following:

Qualified Military Service Make-up form (PDF)
Military Orders

Please contact the HELPLINE when you return from military service to speak to an Account Executive or download a copy of the Qualified Military Service Make-up form (PDF) to submit.