Participating Employers in the New York State Deferred Compensation Plan

Group of Employees Meeting

There are several benefits to becoming a local participating employer with the New York State Deferred Compensation Plan. The New York State Deferred Compensation Board is responsible for all aspects of Plan administration. This includes the issuing of RFPs for selection of and contracting with an administrative service agency, investment options, a Plan trustee/custodian, a Plan auditor who conducts the required annual audits, and other Plan advisors. The Board is the fiduciary to the Plan. In short, all of the requirements of administering a deferred compensation plan are handled by the Board on behalf of all employers who participate in the State Plan. The current Plan services include:

  1. Complete Plan administration including payroll processing, recordkeeping services, forms and form processing, benefit distribution processing, educational materials, a quarterly newsletter, and investment performance information.
  2. A team of 17 regional Account Executives who offer local on-site educational programs to employees of participating employers.
  3. A team of HELPLINE Representatives located in Troy, New York that is available Monday through Friday 8am until 11pm and Saturday from 9am until 6pm.
  4. An automated Voice Response Unit and Plan website available 24 hours a day that provide interactive transactional services, Plan news, and educational programs. Administration and on-site educational programs offered to all participating employers.
  5. Investment guidance provided by Morningstar on the Plan's website.
  6. A core menu of investment options that cover seven asset categories including lifecycle and balanced funds, a stable income fund and a mutual fund window. The Board provides fiduciary monitoring of all investments offered within the Plan. Additionally, the Plan has an Investment Consultant to assist the Board in the selection and monitoring of investment options.

The State Plan is committed to providing high quality participant services and to offering a diverse selection of investment options in the most cost effective manner. If you are interested in exploring joining the State Plan, please call the Plan Helpline at 1-(800) 422-8463.

Rules and Regulations

The rules and regulations of the Deferred Compensation Board of the State of New York