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New York City Employee IRA (NYCE IRA)

What is the NYCE IRA?
Who is eligible to join?
How can I establish an account?
What are the available investment options?
How can I withdraw assets from my NYCE IRA account?
How do I make account changes?
How often will I receive NYCE IRA account statements?
How do I contact the NYCE IRA?
How can I obtain forms to make changes to my account?

What is the NYCE IRA?
The New York City Employee Individual Retirement Account (NYCE IRA) is a new tax-favored program for the exclusive benefit of current and former employees of the City of New York (employed as of 1985) and their spouses.  The NYCE IRA is available as a traditional IRA and a Roth IRA.

  See the differences between a Traditional and Roth IRA (PDF)
  Learn more about the NYCE IRA

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Who is eligible to join the NYCE IRA?
If you are a current or former NYC employee (with a termination date of 1985 or after), or the spouse of a current or former NYC employee, you are eligible to establish a NYCE IRA account.  You are eligible to make contributions to the NYCE IRA if:

  You receive taxable compensation during the year (See section entitled Funding your NYCE IRA: Contributions); and
  You are under age 70 ½ by the end of the year.
  Funding your NYCE IRA

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How can I establish a NYCE IRA account?
Establishing a NYCE IRA is easy.  It begins with requesting Plan Materials.  This document package contains important information about the NYCE IRA, as well as the forms necessary to fund your account and a NYCE IRA Spousal Application.  You will also receive your Personal Identification Number (PIN) in a separate mailing.

One you have your PIN, you are ready to go on to the next step, which is establishing your account.  When setting up your account, you select your investment options and make your NYCE IRA beneficiary elections.

To complete the process, you must read and acknowledge the Disclosure Statement and fee schedule.

Once you’ve done that, you are ready to fund your account.  Please refer to the Funding Your NYCE IRA and the Investment Options sections of this Web site for further information

  Learn more about the available investment options
  Learn more about how to fund your account
  Request Plan Materials (to begin the process of establishing a new NYCE IRA account)

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What are the available investment options?
The NYCE IRA offers two different strategies for investing your money:  (1) investing in one of the NYCE IRA's Pre-Arranged Portfolios or (2) creating your own portfolio using a combination of the NYCE IRA's core investment options, which include the Stable Income Fund, Bond Fund, Equity Index Fund, Socially Responsible Fund, Mid-Cap Equity Fund, International Equity Fund, and Small-Cap Equity Fund.

You may download the Core Investment Fund Profiles (available in PDF format), or call (212) 306-7760, (888-IRA-NYCE if outside NYC), for detailed information, including past performance.

  Learn more about the available investment options
  View the Core Investment Fund Profiles

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How do I withdraw assets from my NYCE IRA account?
You can withdraw or use your traditional IRA assets at any time.  However a 10% early withdrawal penalty applies, with a few exceptions, if you withdraw or use IRA assets before age 59½.

In order to withdraw money from your NYCE IRA, you must select a method of distribution.

  Lump Sum:  full account withdrawal
  Periodic payments:  distributions made over regular intervals.  Periodic payments can be made monthly, quarterly, semi-annually, or annually and are processed by submitting a NYCE IRA Withdrawal Form.
Note:  Distributions as a result of death, disability or divorce, please contact the NYCE IRA at (212) 306-7760, or (888) IRA-NYCE, if outside NYC, for instructions.
  Learn more about withdrawing assets from your NYCE IRA account

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How do I make changes to my account?
Most transactions can be completed online by signing into your account using your Username and PIN.  You can also make account changes via telephone.  Certain transactions (such as name changes)  require submission of a paper form to the NYCE IRA's administrative office.

  Sign In to your Account
  Download and print NYCE IRA forms

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How often will I receive NYCE IRA statements?
You will receive a quarterly NYCE IRA statement that reflects your account balance as of the end of each calendar quarter.  If you are enrolled in the Deferred Compensation Plan (NYC DCP), you will receive a statement regarding your NYCE IRA along with the DCP statement you already receive.

You may choose to have your statements mailed to you or provided online by registering for Online File Cabinet®.  You can sign up for electronic statements through Online File Cabinet® when you access your account.

  Learn more about what information is provided on your quarterly statement
  What is the Deferred Compensation Plan?

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How do I contact the NYCE IRA?
You may write, fax, call or email the NYCE IRA.

  View NYCE IRA contact information

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How can I obtain forms to make changes to my account?
You may obtain all forms via the Forms and Downloads section of this Web site, or by calling the Plan's administrative office at 212-306-7760 (888-IRA-NYCE, if outside NYC).


Employee Assistance Programs (EAPs)
EAPs are staffed by professional counselors who can help employees and their eligible dependents handle problems in areas such as stress, alcoholism, drug abuse, mental health, and family difficulties.

 Learn More
Quick Links

 PICA Program
 NYC Employee Blood Program
 Collective Bargaining Agreements
 OPA Web site