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Retirement Planning Tips for New York State Employees

Tip of the Month

July 2014

  1. Separation from service, including regular retirement, regardless of age.
  2. Attainment of age 70 , even if still employed.
  3. Severe unforeseeable emergency.
  4. 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.
  5. Death.
  6. Loans.
  7. 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.

Archived Deferred Compensation Plan Retirement Tips

Archived ERS Retirement Tips

Archived Social Security Retirement Tips

Archived NYSHIP Retirement Tips

Archived Retirement Insights from NYS Retirees


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