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 made to DCP; regular contributions (a percentage of income), and deferral acceleration for retirement (a catch-up provision of the 457 Plan for eligible participants to nearing retirement with underutilized contributions).
Learn more about Regular Contributions
Learn more about Deferral Acceleration for Retirement (DAR)
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 an annualized asset-based fee of .04%.
To see the Plan's low management fees, visit the Investment Funds section of this website.
Unlike many retail retirement plans, DCP’s investment funds have:
Why Join DCP? Learn the 3 components of a well thought out retirement
The Plan offers a variety of services, including:
Register to Attend a Free Financial Wellness Seminar
See How Contributing to DCP Will Affect Your Paycheck
Learn more about the Plan's Investment Funds