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	The New York City Deferred Compensation Plan (DCP) is an employee benefit 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 join either the 457, the 401(k), or both. There are three different types of contributions that can be made to DCP: Regular Contributions: All participants of the Plan may make regular contributions (a percentage of income). Regular Contributions as an Alternative to FICA Taxes: There are special eligibility requirements for this provision of the Plan (a minimum of 7.5% of income). Deferral Acceleration for Retirement (DAR): This is the catch-up provision of the 457 Plan for eligible participants nearing retirement with underutilized contributions (a fixed dollar amount). Learn more about Regular Contributions Learn more about Regular Contributions as an alternative to FICA taxes Learn more about Deferral Acceleration for Retirement (DAR) While the Deferred Compensation Plan is a benefit offered by the City of New York to its employees, it is a wholly self-funded plan paid for by participants’ fees. The current administrative fee is $20.00 per quarter, regardless of whether a participant has a 457 account, a 401(k) account, or both. In addition, the plan's investment funds are assessed an administrative fee of .0005. To see the Plan's low management fees, visit the Investment Funds section of this Web site. The Plan's investment funds have: No front end loads (sales charges or commissions paid for an investment at the time of purchase) No back end loads (sales charges or commissions paid for an investment at the time of sale) No surrender charges (fees charged when an insurance or annuity product is surrendered for its cash value) No 12b-1 fees (marketing fees) No transaction fees (brokerage/transfer fees) In-House Counseling Client service representatives are available at the Plan’s administrative office to discuss investment options, investment histories, and general Plan information and benefits. Appointments can be made by calling (212) 306-7760 between 9:00 a.m. and 5:00 p.m. Monday through Friday. Work-Site Presentations Presentations are given at agency work locations. This allows the Plan the opportunity to provide a large number of employees with updated Plan information at their convenience. Telephone and Internet Services Obtain forms and brochures (by telephone for delivery by FAX or mail) Leave messages at anytime for response by client service representatives Obtain daily fund values and participant account balances Obtain contribution history and transaction activity Make deferral percentage changes Initiate account changes for the redirecting of contributions and transferring of funds Utilize the custom transfer features - Dollar Cost Averaging and Rebalancer Daily Valuation of Participant Accounts The Plan’s recordkeeping system enables participants to always have up-to-date, personal account information. Quarterly Statements The Plan issues quarterly statements, which are designed to provide detailed and easy-to-understand account information. Statements are issued two weeks after the close of each calendar quarter. Newsletters Each quarterly statement is accompanied by the Plan’s quarterly newsletter, which includes pertinent Plan news, as well as information on a variety of topics. Annual Report A comprehensive, annual financial report is available to all participants. The report includes the financial statements of an independent auditor, the performance results of the Plan’s investment options, and any administrative, investment or legal changes which have affected the Plan during the year. Investment Planning Video The Plan provides an investment video for home use which describes the basics of investing. It is available at the Plan’s administrative office at 40 Rector Street, 16^th Floor, New York, NY 10006 or by calling (212) 306-7760. Learn more about the Plan's Investment Funds Use the Planning Tools View the differences between the 457, 401(k), and Roth 401(k) Plans (PDF) Understand the Program differences of Social Security and DCP (PDF) Order Enrollment Materials