dcp-regular-contributions

Office of Labor Relations


Deferred CompNYCE IRAFinancial WellnessAccount Access

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

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

Funding Your DCP Account

Regular Contributions

A participant can contribute anywhere from 1% to 75% of his/her gross earnings in multiples of 0.5%. These contributions can be suspended at any time, and for as long as the participant wishes.

The contribution amount is calculated after sums for pension contributions have been deducted. To calculate the contribution amount (deferral percentage), begin with gross wages, then deduct pension (414[h]) contributions, the resulting balance is the sum on which the contribution amount is based. The Plan also offers an online calculator that an employee can use to see how contributions will affect his/her paycheck.

Contribution Limits

The limit on contributions to the 457 Plan is 75% of reportable gross annual compensation - up to a dollar limit of $23,500 for calendar year 2025; $31,000, if age 50 or older ($23,000 for calendar year 2024; $30,500, if age 50 or older). The dollar limit can consist of all before-tax, all Roth (after-tax) or a combination of the two. This amount stands as a separate dollar limit and does not need to be combined with the 401(k) Plan or a 403(b) plan.

The limit on contributions to the 401(k) Plan is 75% of reportable gross annual compensation - up to a dollar limit of $23,500 for calendar year 2025; $31,000, if age 50 or older ($23,000 for calendar year 2024; $30,500, if age 50 or older). The dollar limit can consist of all before-tax, all Roth (after-tax) or a combination of the two. If a participant is contributing to another 401(k) or a 403(b) plan, the total annual contribution to all plans must be combined and cannot exceed $23,500 in calendar year 2025 ($23,000 in calendar year 2024).

When a participant's payroll deductions reach the annual maximum allowable contribution limit, they will cease and restart automatically in January of the following year.

Higher Catch-up Contribution Amount for Participants Age 60 to 63

Beginning in 2025, a higher catch-up contribution limit applies for participants who are ages 60, 61, 62 and 63. For 2025,
this higher catch-up contribution limit is $11,250 instead of $7,500. These individuals will have a catch-up contribution of
$11,250, bringing their total 2025 contribution limit to $34,750.

Setting Up Roth Deferrals for the First Time

Participants who are already enrolled in the Pre-Tax 401(k) or Pre-Tax 457 must access his/her account online to modify their deferral percentage to include Roth (after-tax) deferrals (participants can choose to make before-tax and Roth (after-tax) deferrals).

View the 457/401(k) Plan Differences
How to Enroll in the Plan
See how DCP contributions will affect your net-pay

Other Ways of Contributing to the Plan

Deferral Acceleration for Retirement