Take the First Step
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Enroll

It’s easy to participate in the Plan. You can get started right away.

Get paper enrollment form

Learn how to fill out a paper enrollment form

Not ready to sign up yet? Get more info about how deferred comp works and what your options are first.

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If you're not already investing for retirement, it's time to get started. Your pension and Social Security benefits may not provide enough retirement income for you to live the way you want to in retirement.

With the Plan, you decide when, where and how much to invest. And that's just the beginning – here are four more reasons why it's smart to participate in the Plan:

  1. You can start anytime – Your Plan will work for you whether you're approaching retirement or just getting started saving. This is because time and compounding work together to build momentum for your money. The sooner you start, the more you could have at retirement.
  2. Something is better than nothing – Even a little bit of savings can really add up over time. And if you continue to bump up contributions on a regular basis, the overall impact to your paycheck may not seem too painful. Consider putting raises or bonuses into deferred comp – it's an easy way to save a little more.
  3. This plan is made for you – Unlike other retirement plans, the Plan takes into account that you may retire early. So you don’t have to worry about paying a tax penalty if you begin to take income from the Plan before age 59½. Withdrawals are taxable income to you in the year the payments are made.
  4. Professional service at your call – The Plan has non-commissioned HELPLINE representatives and Account Executives ready and willing to answer your questions. We've been helping state and local government employees save for retirement for more than 25 years and our specialists really know their stuff. Talking to them won't cost you any extra.

View our testimonial video.

Read more about why the Plan may be right for you.

Get the help you need

The sooner you enroll, the more you can save. Take a look at the Enrollment Checklist for tips on what you'll need to have handy and enroll today.

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As a participant in the Plan, you have access to a variety of investment options (PDF) to help you build your retirement account. Whether you're a hands-off investor, a do-it-yourselfer, or somewhere in between, you can potentially find the right investments for you with the Plan's three approaches to investing.

If you get stuck when choosing which funds are right for you, we offer different levels of assistance so you can get the help you need. Keep in mind that investing involves market risk, including possible loss of principal. As you get started in the plan, we’ll help you understand market risk and strategies that may help you deal with it.

Three approaches to investing

The three approaches to your investment option choices are generally aligned with how comfortable or willing you are to manage how your retirement assets are invested through the Plan. Get an overview in How Do I Choose Investment Options? and learn more in the Plan Investment Options Guide (PDF).

Here is a high-level look at each investment approach:

  • Do It For Me: Retirement Date Trusts – Choose a T. Rowe Price Retirement Date Trust based on when you will reach age 65.
  • Do-it-Yourself: Create a portfolio of investment options based on your investment strategy and tolerance for risk.
  • Specialty Options: A selection of special interest options such as opportunistic growth, environmental, social, governance and self-directed.

Retirement Date Trusts are designed for people who plan to withdraw funds during or near a specific year. Retirement Date Trusts are subject to market risk and loss. Loss of principal can occur at any time, including before, at or after the target date. There is no guarantee that Retirement Date Trusts will provide enough income for retirement.

Before investing, you should carefully consider the fund’s investment objectives, risks, charges, and expenses. This and other information is contained in the fund prospectus or Fact Sheet, which is available by calling 1-800-422-8463. Read it carefully before you invest.

Fund performance

Fund performance can help you understand how a particular fund has performed – how much its value has gained or lost over different periods of time. Remember, you may not want to use fund performance alone to make investment decisions. Past performance isn't a guarantee of how the fund will perform in the future. The Plan also provides investment performance reports which contain information about returns, gross investment management fees, etc. They are generally available 25 days following the close of each calendar quarter.

View fund performance

Fund prospectuses, fact sheets, and additional investment option information

Get more information about individual investment options within each asset class by reviewing the option’s prospectus and fact sheet.

Some mutual fund companies pay reimbursements to the Plan for administrative functions they would normally perform themselves. Learn more about mutual fund reimbursements.

Get the help you need

Talk to an Account Executive about your investment options, or learn how to choose funds.

PDFs require Adobe® Reader®

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It only takes a few minutes to sign up. Here are some things you'll need:

  • Your agency or department code
  • Your employer's name or employer's Plan ID
  • Your Social Security number
  • Contribution amount
  • Investment selections
  • Beneficiary names, addresses and Social Security numbers

Get the help you need

We'll even walk you through it. If you need more help, call the HELPLINE.

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The Plan is a State-sponsored, 457(b), voluntary retirement savings plan offered to State of New York employees and employees of approximately 1,500 local government jurisdictions. The Plan’s mission is to help public employees achieve their retirement savings goals by providing high quality investment products, educational programs and related services. The Plan is overseen by the New York State Deferred Compensation Board (the Board) and managed by professional staff.

Here are some frequently asked questions about the Plan:

  • Why should I invest in the Plan? The simple answer is that it’s an easy way to invest for retirement. Further, pre-tax deferrals are taken from your paycheck before taxes are withheld. Your tax bill may be lower because the income on your tax return is lower. This helps to reduce the tax impact.
  • Also, although other sources like Social Security and your pension may provide income in retirement, in many cases it will not be enough. Investing in the Plan may provide you the income you need to enjoy the lifestyle you hope for in retirement.

    Finally, you will not incur a 10 percent tax penalty if you separate from service and begin taking distributions before the age of 59½, unlike other types of retirement plans including IRAs.

  • What sets the Plan apart from other retirement plans? The Plan may offer benefits other retirement plans can’t, like penalty-free withdrawals and lower than industry average expenses.
  • What does tax-deferred mean? Basically, you don’t pay income taxes on your Plan contributions or earnings until you retire and/or begin to take payments. This may lower your taxable income now.
  • How much can I put into the Plan? Check out the current contribution limits.
  • How much should I invest? The sooner you start, the more time you’ll have to potentially build your retirement account. By starting early, you may benefit from the power of time and compounding. Many retirement experts say that you’ll need more than 75-80 percent of your working income to maintain a comfortable standard of living. Don’t delay investing for retirement. Talk with your Account Executive about how much you should invest.

Check out the Education and Enrollment Kit (PDF) to learn more about how to enroll into the Plan.

Get the help you need

The sooner you enroll, the more you can possibly save. Take a look at the Enrollment Checklist to see what you’ll need to have handy and enroll today!

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Once you enroll in the Plan, you’ll want to set up online access so you can view account details 24/7. We offer convenient, secure account access with encryption and firewall protection.

Set Up Online Access Now

Here are some things you can do once you have online access to your account: 

Manage your account

  • Check your total account balance
  • Update your personal information
  • Get current and past statements

Manage your money

  • Verify your contribution dates and amounts
  • Change how much you contribute and how your money is invested
  • Review available investment options, see fund performance and research funds

Get the help you need

If you need help setting up online access, we can walk you through it. Call the HELPLINE today.

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