The Plan is a voluntary retirement savings plan offered by New York State and your employer, to allow public employees like you to put aside money from each paycheck toward retirement. The Plan can help bridge the gap between what you have in your pension and Social Security, and how much you’ll need in retirement. The Plan offers both traditional pre-tax and Roth 457(b) accounts to provide you with retirement savings choices.

Here are some frequently asked questions about the Plan:

  • What sets this Plan apart from other retirement plans? It’s a supplemental retirement savings plan. New York State retirement plans will generally provide your primary retirement income. The Plan differs from other defined contribution retirement plans (like a 401(k) or 403(b)), because it is designed and managed with public employees in mind. The New York State Deferred Compensation Board establishes and administers the Plan policies
  • What does tax-deferred mean? Basically, you don’t pay income taxes on your Plan account contributions or earnings until you begin to take payments from your account. This may lower your taxable income now and in retirement
  • Can I combine retirement accounts? Your Account Executive will work with you to combine or consolidate your eligible retirement accounts into your Plan account. This may make managing your retirement investments a little easier. Qualified retirement plans, deferred compensation plans and individual retirement accounts are all different, including fees and when you can access funds. Assets rolled over from your account(s) may be subject to surrender charges, other fees and/or a 10% tax penalty if withdrawn before age 59½

More frequently asked questions


Our Invest in Your Future guide give you a complete look investment types, options, etc.


The Plan Investments Options Guide explains the costs associated with participating in the Plan, and the provisions that apply to exchanges between the various investment options.


Look at our Education Kit for educational programs, a diverse array of investment options and online investment guidance.

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