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DCP Account Log In

Enroll in the Plan

Net-Pay Calculator (Paycheck Comparison)

DCP Videos

DCP Basics

Selecting Investment Funds

Funding Your Account

Beneficiary Information

Withdrawing Assets

Board Meeting Webcasts

Plan Fees

DCP Forms & Downloads

Email the Plan

Agency Request for Worksite Seminar


The Deferred Compensation Plan

DCP in Lieu of FICA

You cannot contribute to both the Deferred Compensation Plan and FICA unless you contribute less than 7.5% to the Plan or are a member of a pension system.

If you are contributing 7.5% or more of your pay to either the 457 or 401(k) and you are not a member of a pension system, you will not pay Social Security (FICA) tax. Please be advised, however, the timing, as to when the FICA payroll tax deduction will cease, depends on when during your City service you began contributing 7.5% of your total annual pay to either the 457 plan or 401(k) plan.

Please note: You must contribute at least 7.5% to a single plan; FICA deductions will not cease if you contribute, for example, 4% to one plan and 3.5% to the other. In the 457 and 401(k) plan, the 7.5% deferral amount must be either before-tax or Roth (after-tax) but cannot be a combination of both. Only certain titles from NYC Health + Hospitals (H+H) are eligible for this provision. NYC H+H employees must contact NYC H+H payroll for eligibility information.

IMPORTANT : Employees should be aware that not paying FICA tax could result in an ineligibility or reduction in Social Security disability benefits. Employees should visit the Social Security Administration’s Web site at www.ssa.gov for more information on qualifying for Social Security benefits.

Still Have Questions?

If you still have questions, or would like more information about the Plan, register to attend the DCP Basics webinar or call the Plan's Client Service Department at 212.306.7760.

Learn More about Funding Your DCP Account

DCP Financial Planning Seminars