The Deferred Compensation Plan


Important Notice

Please be aware that there are many participants calling and visiting the service center and you will experience long wait times to speak with a representative. You may wish to plan your visit accordingly. See below for details about the recordkeeping transition.



View the Transition Timeline (includes key dates, FAQs and more)


General Information

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.

For employees enrolled in a City pension plan, and for non-pension member employees who are contributing less than 7.5% to either the 457 Plan or the 401(k), DCP is a supplemental savings plan to their pension and Social Security.

For non-pension member employees who elect to contribute 7.5% or more to the Deferred Compensation Plan, DCP is their sole retirement plan in lieu of Social Security.  To learn more about this, play our DCP in Lieu of FICA Video.

DCP NEWS

 

1.  New Recordkeeping Provider

2.  Attention Public Safety Workers 

3.  Contribution Limit Increases in 2020

4.  Seminars Added

 


Eight in ten investors either feel they are not saving enough for retirement or aren't sure how much they need to save. Are you sure that you’re saving enough for your future? Get your Personalized Financial Snapshot.

 

Key differences between the 457 and 401(k) Plans

Learn More About DCP

How to Enroll

Retirement Planning Tools

 


 

How to Contact Us

We are located at 22 Cortlandt Street, 18th Floor.

To reach us by subway: Take the A, C, J, Z,#2, #3, #4 or #5 to Fulton Street; E to World Trade Center/Church Street; or R to Cortlandt Street. We are located in the Century 21 Building.

Our telephone and fax numbers are:

Phone: (212) 306-7760
Outside NYC: (888) DCP-3113 (888-327-3113)
Fax: (212) 306-7376
TTY (hearing impaired): (212) 306-7707

 

Please send written inquiries/correspondence to the following mailing address:

New York City Deferred Compensation Plan
Bowling Green Station, P.O. Box 93
New York, NY 10274-0093


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