Retirement Planning Tips for New York State Employees
Tip of the Month
- Separation from service, including regular retirement, regardless of age.
- Attainment of age 70 ½, even if still employed.
- Severe unforeseeable emergency.
- If your Plan Account balance is no more than $5,000 AND you have not contributed to the Plan in the last two years AND you have not received a distribution under this provision before.
- In-Service distributions of assets rolled in from another eligible retirement plan, except another governmental deferred compensation plan.
To speak to a Deferred Compensation Account Executive or HELPLINE Representative, call 800-422-8463. Representatives are available Monday through Friday, from 8:00 a.m. to 11:00 p.m., and Saturdays from 9:00 a.m. to 6:00 p.m., except holidays. You may also visit the Deferred Compensation Plan website at www.nysdcp.com.