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A 457 (b) plan is a tax-deferred retirement savings plan that lets you defer part of your wages and save them for retirement. Learn more here.
The New York City Deferred Compensation Plan (DCP) is a tax-favored retirement savings program available to New York City employees. The Plan is comprised of two programs: a 457 Plan and a 401 (k) Plan. Eligible employees may choose to enroll in either the 457, the 401 (k), or both. There are two different types of contributions that can be ...
If your new employer sponsors a Section 457(b) eligible deferred compensation plan, you may also transfer all or a portion of your Plan account balance directly to that employer's plan as long as the other plan will accept the transfer.
Learn more about how the Roth 457 plan option (PDF) works. Also, learn about how to convert your traditional 457(b) account into a Roth 457 (PDF). Get the help you need
The New York City Deferred Compensation Plan (DCP) allows eligible New York City employees a way to save for retirement through convenient payroll deductions. DCP is comprised of two programs: a 457 Plan and a 401 (k) Plan, both of which offer pre-tax and Roth (after-tax) options.
Plans of deferred compensation described in IRC section 457 are available for certain state and local governments and non-governmental entities tax exempt under IRC Section 501. They can be either eligible plans under IRC 457 (b) or ineligible plans under IRC 457 (f).
Your deferred comp plan will work for you whether you're approaching retirement or just getting started investing – putting away money in a tax-deferred account can offer several benefits. See how your investment can potentially grow due to the power of time and compounding .
