12 0 0 12 279.6273 491.2263 Tm EMC 0 5.5826 -.1237 5.7496 -.3704 5.7496 c /P <>BDC [(Y)68.9(ou ma)13.2(y ha)13.2(v)19(e)0( up to fi)13.2(v)19(e)0( outstanding TD)49.8(A loans at)]TJ /P <>BDC ET BT ET BT /P <>BDC EMC 5.7839 -2.2581 5.8828 -2.1307 6.0795 -1.9805 c 0 Tw )]TJ EMC 0000055200 00000 n ET 12 0 0 12 557.8185 525.6434 Tm 12 0 0 12 275.6642 497.2023 Tm .025 Tw ET Plan you are in, as well as some, or all, of the following [(TD)49.8(A loan balance y)13.2(ou ha)13.2(v)19(e)0( on y)13.2(our effecti)13.2(v)19(e)0( retirement)]TJ .025 Tw /P <>BDC BT ( )Tj ET EMC ( )Tj ET PDF Loan Application Tier 3, Tier 4 and Tier 6 Basic and Special - NYCERS EMC /P <>BDC ( )Tj -8.493 8.8811 -7.8619 7.6192 v 1.5333 -1.8037 3.7403 -1.8249 v .025 Tw Q ( )Tj -.053 -3.5862 -.2122 -2.1539 v /TT2 1 Tf 0 Tw EMC ET ET EMC 12 0 0 12 28 691.1543 Tm The loan process is very similar to that of your bank or credit union. 0 Tw BT (B)Tj 208.19 119.16 -74.99 -40.28 re -1.5906 2.1223 -1.5535 2.2226 -1.4775 2.289 c ET ET In g)-15.1(eneral, direct monthly)]TJ -6.0181 8.2991 -3.6741 5.7022 v -.0003 Tc 0 Tc .025 Tw EMC York City Deferred Compensation Plan (DCP) loan programs. EMC The maximum term for a general purpose loan is five years from the date you receive the loan amount. EMC EMC /P <>BDC BT ET BT ET (described in restrictions )Tj /P <>BDC [(On the online or paper application, y)13.2(ou ma)13.2(y designate)]TJ 12 0 0 12 316.8 697.5474 Tm f made to NYCERS on a pre-tax basis are considered 414(h) 0 0 0 1 k [(Application or e-for)-37.1(m equi)13.2(v)19(alent. /P <>BDC /P <>BDC ( )Tj 0 0 0 1 K 12 0 0 12 267.279 229.3223 Tm W n 6.0664 -5.4359 4.125 -6.6971 v [(ann)13.2(uitization, y)13.2(ou ha)13.2(v)19(e)0( until the close of)-130.9( the business)]TJ ( )Tj ET [($1,000. ( )Tj -.5686 -1.807 -.4543 -1.7059 -.3872 -1.6239 c of: a) 50% of a participants DCP account 5.397 -.1777 5.1406 -.0173 4.7163 .3031 c BT The current administrative fee is $20.00 per quarter, regardless of whether a participant has a 457 account, a 401(k) account, or both. EMC [(If)-130.9( y)13.2(ou are a retiree with TD)49.8(A Defer)-24.9(ral status)30.8(, y)13.2(ou ha)13.2(v)19(e)0( )]TJ .2911 -.3398 0 0 v When borrowing results in a consolidated loan amount over 27 114.857 558 641.143 re /P <>BDC /P <>BDC .025 Tw 11.814 .8638 14.908 .9223 15.923 -.0934 c 0 792.015 612 -792 re )]TJ BT -.6749 -6.7759 -.7423 -6.7841 -.7794 -6.7841 c ET endobj ( )Tj .025 Tw -9.0562 0 -9.9102 .854 -9.9102 1.8976 c 12 0 0 12 28 531.1783 Tm .0469 Tc 12 0 0 12 285.4337 575.2263 Tm (6/21)Tj EMC 2.3442 -.76 3.1042 -2.1545 v 0 792.015 612 -792 re [(paid on the New Y)68.9(ork State pa)13.2(yroll, and Char)-20(ter)]TJ 0 Tw 0 Tw /P <>BDC BT -.0004 Tc )]TJ ( )Tj ET EMC The Deferred Compensation "Retirement Catch-Up" provision, available to employees in each of the last three years prior to normal retirement age remains unchanged at $19,500 for a combined maximum total contribution of $39,000.00 for calendar year 2021. 5.5638 -7.9005 5.7714 -8.09 5.7714 -8.3431 c The New York City Deferred Compensation Plan (DCP) is a tax-favored retirement savings program available to New York City employees. EMC 0 Tw ET 12 0 0 12 50.3464 692.6217 Tm obtain full Service Retirement pension benefits, that account is deemed to have BT 2. BT 12 0 0 12 79.609 517.1473 Tm BT ET 0 Tw W n /P <>BDC [(, amount or duration of)-130.9( pa)13.2(yments\), y)13.2(ou m)13.2(ust submit)]TJ ET EMC .025 Tw ( )Tj ET ET BT BT 12 0 0 12 316.8 358.6697 Tm EMC BT -.1293 -1.311 0 -.7689 0 0 c 12 0 0 12 570.2504 193.0678 Tm [(If)-130.9( y)13.2(ou filed an online TD)49.8(A loan application)]TJ You can only have one outstanding loan at any time. [(Y)68.9(ou m)13.2(ust meet the follo)13.2(wing criteria to be eligible for a)]TJ EMC If)-130.9( y)13.2(ou are a member)]TJ 12 0 0 12 28 393.2263 Tm BT [(membership to an eligible New Y)68.9(ork City or New Y)68.8(ork)]TJ EMC f choose not to roll over the taxable amount, NYCERS is required to 12 0 0 12 274.2111 475.5953 Tm EMC EMC BT EMC withdrawal must be rolled over to an IRA or other qualified retirement plan endobj 0 Tw ET 337 0 obj ( )Tj 12 0 0 12 563.7448 325.6913 Tm You can borrow up to 50 percent of your vested account balance, with a minimum loan of $1,000 up to a maximum of $50,000. /P <>BDC 12 0 0 12 338.675 395.0438 Tm ( )Tj EMC ET EMC BT Tier /P <>BDC 6.7771 6.5884 5.8906 5.701 v .025 Tw 12 0 0 12 337.8021 676.9478 Tm /P <>BDC /P <>BDC ET ( )Tj endobj BT .025 Tw EMC ET ET BT granted. pension benefits paid after you repay the loan will not be -1.435 5.9919 -1.6307 6.0814 -1.6307 6.26 c 12 0 0 12 294.0978 341.2983 Tm [(TD)49.8(A account; if)-130.9( y)13.2(ou ha)13.2(v)19(e)0( a DCP loan, y)13.2(our a)13.2(v)19(ailable)]TJ 12 0 0 12 576.8275 448.6457 Tm [(y)13.2(ou resign or are ter)-37.1(minated, y)13.2(ou will be gi)13.2(v)19(en a 30-da)13.2(y)]TJ ( )Tj [(will not be taxable until it is distributed to y)13.2(ou. 103 0 obj .025 Tw -1.8703 3.0366 -1.61 3.1136 -1.1477 3.22 c -.7362 -13.281 -.7362 -.5301 y ( )Tj [(will contin)13.2(ue to accr)-32.2(ue on the unpaid balance)19(. BT ET ET BT BT 12.616 -3.4062 12.176 -3.3788 11.588 -3.3253 c 12 0 0 12 267.1736 623.2023 Tm ET Do distributions receive any income tax benefts? ET 12 0 0 12 293.0442 377.3223 Tm .025 Tw ET /P <>BDC 12 0 0 12 390.9407 676.9478 Tm 12 0 0 12 278.7693 685.1782 Tm ET [(recent account balances and the most recent unit v)19(alues)]TJ ( )Tj ( )Tj method, the consolidated amount will be paid within the original 0 Tw 0 Tw [( y)13.2(ou ha)13.2(v)19(e)0( TD)49.8(A Defer)-24.9(ral status;)]TJ The minimum loan is $1,000. /P <>BDC ( )Tj EMC BT ET 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). 0 Tc ( )Tj BT ET 10.235 -2.5202 10.12 -2.6094 9.8887 -2.6094 c [(or ha)13.2(v)19(e)0( TD)49.8(A Defer)-24.9(ral status)30.8(, y)13.2(ou ma)13.2(y apply for a )]TJ [(lump-sum pa)13.2(yment. <]/Prev 156179>> 0 Tw ET /P <>BDC $15,000. BT ( )Tj EMC ET EMC ET ( )Tj 0 Tc ET ET EMC EMC BT BT you receive your Member Number and first paycheck after filing ( )Tj Deferred Compensation Maximum Contribution Limits for Calendar Year /P <>BDC ET 0 Tw -1.5572 -8.1776 -1.3972 -7.9932 -1.0769 -7.8177 c BT EMC ET 12 0 0 12 51.5317 483.1714 Tm ET EMC /P <>BDC Prior to that)]TJ ET ( )Tj The Deferred Compensation Loan Program will charge an administrative fee of $50.00 plus a maintenance fee of $8.75 per quarter ($35.00 per year) and will only issue loans of you repay them in five (5) years. EMC 12 0 0 12 238.3821 691.1543 Tm EMC EMC 0 Tw /P <>BDC .025 Tw (application. 12 0 0 12 28 545.1783 Tm 0 Tw .025 Tw -.2528 -1.7748 0 0 v 12 0 0 12 28 447.5954 Tm ( )Tj (retirement system does not offer a Section 403\(b\) Plan)Tj ET the answers!). [(fi)13.2(v)19(e)0( years \(60 months\) after the loan)30.8()75.2(s)0( issuance date)13.2(, )]TJ 315 0 obj 12 0 0 12 28 719.1543 Tm [(Y)68.9(ou are not cur)-24.9(rently in default on a TD)49.8(A loan. (to submit this notarized request. 12 0 0 12 49.5 173.3223 Tm endobj BT EMC q ET -1.1185 3.2297 -1.015 3.2539 -.8382 3.293 c BT EMC [(7%; for other members)30.7(, the interest rate will be 8.25%. (For more information visit EMC q 1 0 0 1 479.566 87.092 cm 0 0 m /P <>BDC BT ( )Tj /P <>BDC )]TJ ET .025 Tw 0 Tw BT [(adv)19(erse tax consequences will result if)-130.9( the combined)]TJ /Artifact <>BDC endobj BT .025 Tw f EMC EMC taxable portion to an IRA or Employer Plan. -.2077 -.3925 -.3489 -.2514 -.5787 .0317 c 0 Tw W n T)-9.8(his br)-9.8(ochur)-9.8(e highlights the impor)-33.2(tant featur)-9.8(es of)-155.8( this benefit. -.7974 -7.4112 -1.9717 -7.8349 -3.2988 -7.8349 c EMC BT If you use this form properly without alteration, you may assume that you are in compliance with New York State Banking Department disclosure requirements as set forth in Part 38.4(a) of the General Regulations of the Banking Board as in effect on April 1, 2003. BT 12 0 0 12 55.375 189.3463 Tm taxable distribution, you will also be subject to an additional Q BT /P <>BDC 12 0 0 12 50.2734 554.6697 Tm .025 Tw consequences. EMC 256.298 676.575 97.8 -52.381 re BT BT ( )Tj 2sV3Gr_C`auP%("{1ogBH) c*:O@AS#[ifZP?2@ a3 p[ 0 Tc 12 0 0 12 28 705.1542 Tm q .025 Tw [(member)24.9(, loans are nor)-37.1(mally re)-12.2(paid through pa)13.2(yroll)]TJ [(y)13.2(our loan application. 12 0 0 12 571.9401 718.9478 Tm 0 Tc q 1 0 0 1 352.608 652.827 cm 0 0 m ET /P <>BDC /P <>BDC EMC 0 Tc .4191 2.8107 .7619 2.9513 1.3792 3.2108 c /P <>BDC BT ( )Tj /P <>BDC ET -.0047 Tc EMC /P <>BDC 0 Tw EMC 0000010695 00000 n 12 0 0 12 28 265.3223 Tm /P <>BDC .025 Tw EMC /P <>BDC 12 0 0 12 565.8666 267.0197 Tm 256.298 676.575 97.8 -52.381 re 12 0 0 12 269.6614 335.3223 Tm 7.3478 -1.3942 9.1858 -3.5476 v 12 0 0 12 28 407.2263 Tm ET BT EMC /P <>BDC /Artifact <>BDC EMC .025 Tw 12 0 0 12 38.8 513.2502 Tm If you have registered your MyNYCERS account, the Loan ( )Tj -.0047 Tc /P <>BDC ET /P <>BDC /P <>BDC [(R)12.2(esignation/T)54.2(ermination/Member)-12.2(ship T)50.8(ransf)8.8(er)]TJ .025 Tw BT Eligible employees may choose to enroll in either the 457, the 401(k), or both. EMC 0 Tw other than New York. .0254 Tw 12 0 0 12 317.6284 125.3394 Tm repayment exceeds five years. 12 0 0 12 316.8 482.6216 Tm 0 Tw ET ET 12 0 0 12 274.4066 615.1783 Tm (PDF). W n ET .025 Tw .025 Tw ( )Tj BT I agree that the rate of interest on this loan will be fixed by the Comptroller as provided for in the Retirement and Social Security Law. BT 0 J 0 j .75 w 10 M [] 0 d ET -.2754 -5.6911 0 -5.1688 0 -4.4219 c /P <>BDC ET Q /P <>BDC BT 11.5 0 0 11.5 42.4 203.3463 Tm 0 Tw ET Each year you work, you'll be taxed only on $80,000 worth of income. [($50,000, less y)13.2(our highest combined loan balance)]TJ 12 0 0 12 28 277.2982 Tm /P <>BDC ( )Tj \(If)-130.9( y)13.2(ou are emplo)19(yed b)13.2(y)0( the UFT or the)]TJ 12 0 0 12 28 489.5954 Tm BT more than two new loans may be granted during any 12-month period. EMC ET 12 0 0 12 282.8794 397.2983 Tm EMC /P <>BDC .025 Tw EMC EMC -.2425 -.7276 0 0 v BT /P <>BDC .025 Tw .025 Tw EMC BT This page is available in other languages, Deferred Compensation Maximum Contribution Limits for Calendar Year 2021. BT /P <>BDC /P <>BDC BT [(to insufficient funds in an in)13.2(v)19(estment prog)-24.9(ram, or if)-130.9( y)13.2(o)0(u)]TJ 0 Tw /P <>BDC /P <>BDC [(loan balance)19(. Employees are not eligible to choose both the "Retirement Catch-Up" and the "50 . EMC ET 0 Tc ( )Tj 0 Tw 0 Tw ( )Tj most likely will create a significant tax consequence. 0 Tw EMC BT /TT6 1 Tf BT /P <>BDC ( )Tj )]TJ to all IRS rules concerning loans. BT /P <>BDC /P <>BDC [(that y)13.2(our loan be forw)13.2(arded via EFT to the account)]TJ <>/ExtGState<>>> 0 Tc ET ET ( )Tj BT ET EMC [(and send y)13.2(ou written notification of)-130.9( the re)-12.2(pa)13.2(yment)]TJ which the distribution was madeto roll over the taxable ET Original Terms: You have an existing loan that has not yet ET ET ET 12 0 0 12 278.2224 573.1783 Tm -.0094 Tc 12 0 0 12 579.3272 184.6937 Tm f /TT6 1 Tf BT In)]TJ -.0047 Tc BT [(of)-130.9( F)38.1(o)0(r)-37.1(m/Application/Online Filing \(code MI5\) or )]TJ EMC /P <>BDC /P <>BDC EMC .025 Tw [(L)17.7(O)20.6(AN APPLICA)53.8(TIONS)]TJ .025 Tw 12 0 0 12 83.5481 299.2983 Tm ET -3.0575 3.2029 0 0 v As part of our enhanced security, we no longer support Internet Explorer (IE). -.0047 Tc /P <>BDC .025 Tw ET 13.223 0 l BT [(F)38.1(or any additional TD)49.8(A loan balance)13.2(, CUNY members)]TJ BT .025 Tw /P <>BDC 0 Tc There are two great ways to get more information on our website .025 Tw -1.3902 3.1049 0 1.7148 0 0 c /P <>BDC The New York State Deferred Compensation Plan is a State-sponsored employee benefit for State employees and employees of participating employers. /TT6 1 Tf ET recognizes. .3367 5.2227 0 6.0781 0 7.1586 c EMC -.2423 7.7645 -.0481 5.3382 v Taxability calculation methodology for pension loans is .8287 -1.4306 .4574 -1.3409 .0558 -1.2128 c -3.7847 -4.9987 -4.4157 -3.4936 v 1 i BT -.8728 -1.1159 -2.572 -1.3098 v 3.1662 9.0962 3.3551 8.9063 3.7346 8.9063 c [(outstanding TD)49.8(A loan balance)19(. BT .025 Tw BT [(TRS will recei)13.2(v)19(e)0( pa)13.2(yment for only one outstanding )]TJ ET pension loans, as applicable. 0 Tw ET EMC ET .025 Tw 12 0 0 12 285.5209 369.2983 Tm 0 Tc 12 0 0 12 273.2256 683.5474 Tm ( )Tj BT The NYC BT 12 0 0 12 245.4709 539.2023 Tm 12 0 0 12 284.3522 388.7177 Tm 08 Consequences of Missing Payments Pre-payments 09 Unpaid or Partially Paid Leave of Absence 06 Important Questions to ask Yourself Before Taking a Loan Who is Eligible for a Plan Loan? ( )Tj .025 Tw (c)Tj ( )Tj [(combined with new loans)38.1(. 0 -.342 -.0676 -.5123 -.2028 -.5123 c 8.0972 7.8197 l BT /P <>BDC ET 0 Tw 12 0 0 12 28.8274 588.8802 Tm BT 12 0 0 12 268.1196 449.2263 Tm 0 Tw ( )Tj ET ET 12 0 0 12 50.2734 492.6937 Tm Tier BT BT .025 Tw /P <>BDC q 1 0 0 1 275.443 663.404 cm 0 0 m BT 0000014351 00000 n BT 90 days and longer 12 0 0 12 562.5128 732.9478 Tm /P <>BDC ET W n S 0 Tw [(ser)-39.1(vice c)13.2(harg)-15.1(e for any requested action that necessitates)]TJ /P <>BDC -1.003 1.8671 -.6278 1.8452 -.132 1.8021 c ET with an outstanding loan of $34,997 (Loan 1) requests a new loan (Loan 2) of 0 Tw endstream q 1 0 0 1 165.586 99.995 cm 0 0 m [(T)-15.2(he interest rate in effect when the loan is issued will be)]TJ BT /P <>BDC options, and then apply for a loan online. /P <>BDC ( )Tj loan balance exceeds the $50,000 DCLP maximum. [(loan pa)13.2(yment. /P <>BDC In this case)13.2(,)]TJ ET BT EMC 2.5627 5.7496 2.4255 5.6121 2.4255 5.3379 c /P <>BDC /TT2 1 Tf EMC New York State Deferred Compensation /P <>BDC /GS1 gs ET ( )Tj /P <>BDC .025 Tw 0 Tw ET EMC 12 0 0 12 570.001 601.6194 Tm Please note)13.2(, since)]TJ /TT2 1 Tf ET /P <>BDC EMC /P <>BDC Access My Plan - NYSDCP BT f ( )Tj the members responsibility to comply with the terms of IRS Code 72 (p) (2) (B) BT ET days Tier 3, 4, and 6 members: The law requires that ( )Tj ET Y)68.8(ou can)]TJ /P <>BDC ( )Tj [(the ser)-39.1(vice c)13.2(harg)-15.1(e w)13.2(as $30. -.8569 2.4742 -.7775 2.4927 -.6421 2.5226 c Call Center Hours 12 0 0 12 274.6185 117.3223 Tm 5.1004 -7.7597 5.12 -7.7645 5.15 -7.7737 c /P <>BDC /P <>BDC /P <>BDC Q EMC 13.5 0 0 13.5 317.6284 551.1473 Tm EMC /P <>BDC BT ET /TT20 1 Tf reduce the members pension. /P <>BDC /P <>BDC 12 0 0 12 556.2393 662.9478 Tm EMC f 0 Tw 327 0 obj /P <>BDC -2.2185 -3.2787 -2.2185 -4.4567 y 12.948 -2.6086 13.154 -2.6478 13.237 -2.711 c ( )Tj q 1 0 0 1 298.585 651.714 cm 0 0 m /P <>BDC [(no later than the next business da)13.2(y after TRS recei)13.2(v)19(e)0(s)]TJ /GS2 gs ET ( )Tj ET EMC BT /P <>BDC BT 12 0 0 12 542.509 541.6674 Tm 11.5 0 0 11.5 332.0284 297.2673 Tm /P <>BDC 2. ET EMC .025 Tw 12 0 0 12 338.675 649.5953 Tm 12 0 0 12 316.8 726.5977 Tm EMC and fully repays it by his/her retirement date, that loan will not be taxed. /P <>BDC It is strongly recommended that members carefully consider other available funding sources (e.g. ( )Tj ET 0 Tw ( )Tj BT ET /P <>BDC ET 0 Tw 12 0 0 12 275.263 145.3223 Tm ET Q BT 0 Tw ET PDF New York State Deferred Compensation Plan Loan Highlights - NYSDCP BT Submit a Media BT /P <>BDC .025 Tw EMC /P <>BDC f -2.2811 -7.7161 -1.4076 -4.2218 v EMC 0 Tw /P <>BDC /P <>BDC q 1 0 0 1 191.57 101.503 cm 0 0 m The term for a loan to purchase a primary residence is 15 years. /P <>BDC 3.7055 7.505 l -.0047 Tc ET EMC EMC 185 0 obj EMC /P <>BDC 3.2968 -2.5493 3.5875 -2.6079 3.9762 -2.6274 c -1.5005 -2.9281 -1.3661 -2.7681 -1.0965 -2.6024 c /P <>BDC ET [(, y)13.2(our TD)49.8(A loans will be closed. BT BT 0 Tc .4537 2.0218 .5842 1.8686 .659 1.5617 c ( )Tj -1.298 1.3488 -1.1853 1.4304 -.9622 1.4304 c 0 Tw BT .025 Tw 12 0 0 12 316.8 277.6913 Tm ET EMC q 1 0 0 1 308.556 656.696 cm 0 0 m 0 Tw BT BT /P <>BDC /P <>BDC 0 Tw ET 12 0 0 12 316.8 212.6937 Tm /P <>BDC BT [(for members who are ser)-39.1(ving in \(or retired/resigned)]TJ 8.493 14.754 8.3961 8.541 v ( )Tj BT EMC EMC 12 0 0 12 386.3918 221.6914 Tm 0 Tw BT /P <>BDC ( )Tj /P <>BDC EMC EMC /P <>BDC 0 Tc 0 Tw ( )Tj ET .025 Tw BT EMC BT 0 Tw EMC 0 Tw .025 Tw 12 0 0 12 544.7837 427.6434 Tm <> 12 0 0 12 49.9481 713.1782 Tm New York City, a direct repayment program will be implemented. EMC EMC ET [(L)18.1(O)21(AN AMOUNT)-7.8(S)]TJ EMC BT .025 Tw EMC )Tj EMC 12 0 0 12 389.0544 221.0677 Tm ( )Tj EMC To avoid taxes and the penalty, the EMC B. EMC [(m)13.2(ust mak)13.2(e monthly pa)13.2(yments directly to TRS)38.1(. ( )Tj /P <>BDC ( )Tj .025 Tw .025 Tw he/she will now have two outstanding loans and will be making the following BT assuming minimum uniformed service of three years. 5.7527 8.2491 6.0762 7.9452 6.1139 7.4793 c ET .025 Tw EMC 12 0 0 12 50.2734 450.6937 Tm ( )Tj [(30-da)13.2(y period, the total outstanding TD)49.8(A loan balance)]TJ [(from\) titles re)-12.2(presented b)13.2(y)0( the United F)43.9(ederation of)]TJ [(TD)49.8(A loans m)13.2(ust be tak)13.2(en in m)13.2(ultiples of)-130.9( $10. 10.453 1.065 10.321 1.0259 10.146 .9772 c ET BT BT ( )Tj )]TJ ET [(affect the loan amounts y)13.2(ou ma)13.2(y bor)-24.9(ro)13.2(w from y)13.2(our)]TJ 10 0 0 10 456.4963 108.4542 Tm EMC ET EMC prior to taking advantage of this exception. EMC BT T)-15.2(he interest rate on y)13.2(our TD)49.8(A loan is)]TJ [(notification b)13.2(y)0( TRS)38.1(. 12 0 0 12 28 349.3223 Tm Monday-Friday 9 am 5 pm ET will incur a 10% early withdrawal penalty. 0 Tw BT 0 Tw 0000003283 00000 n Fund Manager Fees Each investment manager charges an investment management fee that is deducted directly from each investment option's daily value. /P <>BDC ( )Tj ET BT (. BT EMC ET ( )Tj EMC EMC endobj EMC f 10.005 1.8499 10.283 1.8671 10.467 1.8671 c BT BT /P <>BDC q 1 0 0 1 421.366 89.444 cm 0 0 m 0 Tw -7.7337 -.3472 -7.9809 -1.4215 -7.9809 -2.7357 c 12 0 0 12 316.8 395.6674 Tm ( )Tj 306 396.015 m [(be reduced. EMC ( )Tj ET EMC BT 12 0 0 12 338.9631 373.2434 Tm [(\(including interest and insurance c)13.2(harg)-15.1(es\). .025 Tw 12 0 0 12 51.5317 435.1954 Tm The Special 457(b) Catch-up Provision is part of the Section 457(b) of the Internal Revenue Code, and was amended by the Pension Protection Act of 2006. 306 396.015 m 0 Tw 12 0 0 12 316.8 221.6914 Tm 12 0 0 12 344.5034 207.2914 Tm 1.4073 .2429 2.9118 -.6795 v 0 Tw EMC BT ET ( )Tj 10 0 0 10 298.4775 80.8541 Tm 12 0 0 12 288.4775 391.5953 Tm BT BT ( )Tj 0 Tw BT .025 Tw BT ET ET When a member takes a taxable pension loan in order to purchase a /P <>BDC BT EMC <> /GS2 gs /P <>BDC BT EMC EMC 0 Tw 0 Tw /P <>BDC 12 0 0 12 288.9836 293.3223 Tm TRS m)13.2(ust recei)13.2(v)19(e)0( these pa)13.2(yments b)13.2(y)0( the )]TJ (IRS regulations require TRS to withhold 20% of)Tj [(F)19(or y)13.2(our con)22(v)15.1(enience, TRS f)22.9(orms and publications are a)23(v)9.8(ailable on our w)13.2(ebsit)17.1(e.)]TJ ( )Tj 12 0 0 12 85.9875 616.6457 Tm BT /P <>BDC /P <>BDC [(the taxable por)-20(tion of)-130.9( any existing loan balance and)]TJ [(immediatel)-9.8(y)85(. EMC ET f BT EMC .025 Tw 306 396.015 m 3.9072 -5.9447 3.9222 -5.9484 3.9449 -5.9555 c 5.2861 6.1815 4.8982 5.7496 4.1244 5.7496 c EMC 0 Tw benefits paid prior to the repayment of the loan will not be /P <>BDC 0 Tw [(Since TRS issues loans on a w)13.2(eekly basis)30.8(, TRS m)13.2(ust)]TJ EMC 12 0 0 12 50.3464 520.6937 Tm When you take 0 Tw BT /P <>BDC /P <>BDC EMC 321 0 obj -.2239 .5401 -.6574 .9166 -1.2997 1.129 c [(g)-24.9(race period ends or y)13.2(ou retur)-20(n to acti)13.2(v)19(e)0( ser)-39.1(vice)]TJ [(status ma)13.2(y c)13.2(hang)-15.1(e ho)13.2(w their TD)49.8(A loan pa)13.2(yments are)]TJ EMC 1.6702 6.1347 1.8789 5.7698 2.2976 5.4803 c ET 0 Tw ET EMC /P <>BDC /TT6 1 Tf 12 0 0 12 261.2021 747.1542 Tm .025 Tw ET 2.5197 2.9432 l BT 0 Tc EMC ET ET EMC BT .025 Tw .025 Tw BT [(the next business da)13.2(y)82(. /TT6 1 Tf 10 0 0 10 143.9079 184.9727 Tm ET There is a $40.00 service fee for processing each loan taken on or after July 1, 2020; this fee is automatically deducted from the loan check. EMC 10.761 4.9472 11.588 3.1426 v ( )Tj BT 3.2544 -8.046 3.1239 -7.5522 2.8622 -6.9012 c /P <>BDC EMC EMC /P <>BDC ( )Tj BT BT EMC BT principal residence, the IRS permits the member to defer taxes on that loan if /P <>BDC BT 12 0 0 12 554.4575 291.6914 Tm 0 Tw /P <>BDC (When you ET 4.046 6.823 l 0 Tw /P <>BDC ET ( )Tj 12 0 0 12 571.0111 311.0438 Tm /P <>BDC ET 0 Tc 6.0737 -1.3241 6.1843 -.6997 6.1843 -.0746 c 12 0 0 12 278.9638 464.6937 Tm 6.7936 -6.941 4.2218 -4.0766 v .025 Tw ET .025 Tw ET -.0047 Tc ET BT EMC 12 0 0 12 316.8 663.5714 Tm 8.3876 .9568 8.2834 .8604 8.0739 .8383 c /P <>BDC [(after the g)-24.9(race period in order to a)13.2(v)19(oid defaulting on)]TJ 4.1584 -6.0578 l (\(See Defaults section.\))Tj -.6338 -1.5836 -2.9776 -2.5338 v 12 0 0 12 291.7775 391.5953 Tm 6.6242 1.4023 6.4962 1.042 6.2419 .581 c [(pro)13.2(vided y)13.2(ou ha)13.2(v)19(e)0( sufficient funds in eac)13.2(h in)13.2(v)19(estment)]TJ 12 0 0 12 316.8 698.5977 Tm 12 0 0 12 558.4614 524.6216 Tm ( )Tj 12 0 0 12 247.2684 519.2263 Tm ET 12 0 0 12 325.1764 407.2193 Tm Loans being repaid with a term of five years or more will be combined, resulting in a single repayment on the combined loan. EMC EMC /TT6 1 Tf BT ( )Tj ET /P <>BDC BT EMC f .025 Tw [(that y)13.2(ou recei)13.2(v)19(e)0( directly)82(. -1.4328 2.3264 -1.2337 2.3853 -.8792 2.4667 c BT EMC The New York State Deferred Compensation Plan is a State-sponsored employee benefit for State employees and employees of participating employers. .7481 1.2176 .8599 .9179 .9941 .6635 c ET 0 Tw 0 Tw and/or taxable loans, and select the loan you prefer. PDF A Plan for Your Future - John Jay College of Criminal Justice ET ( )Tj EMC .9658 -7.1923 1.4512 -6.9071 1.3741 -6.9071 c balances, see an estimate of your retirement benefit, file forms (3)Tj f /P <>BDC /TT12 1 Tf 0 Tw ET /P <>BDC [(period will commence upon the receipt of)-130.9( pa)13.2(yroll)]TJ EMC ET [(y)13.2(our TD)49.8(A account. .025 Tw 12 0 0 12 338.675 601.6194 Tm 12 0 0 12 259.054 363.5954 Tm 12 0 0 12 28 671.1782 Tm [(y)13.2(our TD)49.8(A loan amount \(including the ser)-39.1(vice c)13.2(harg)-15.2(e\) will)]TJ 0000048256 00000 n 0 Tw BT BT /P <>BDC 12 0 0 12 288.1482 223.3223 Tm BT ET .025 Tw 0000003453 00000 n EMC 12 0 0 12 555.1033 518.9957 Tm with an unpaid taxable loan balance at retirement is under 50 years old, he/she )Tj Unlike many retail retirement plans, DCPs investment funds have: Why Join DCP? 0 Tw BT 0 0 0 0 k EMC .8485 9.6002 1.5429 8.9057 1.5429 8.0572 c .025 Tw BT -.0047 Tc ET BT BT BT /P <>BDC ET .025 Tw EMC EMC EMC BT /P <>BDC -.1688 -1.7112 0 -1.0037 0 0 c ET .025 Tw BT EMC BT )]TJ ET [(Sc)13.2(hool members)30.8(, cannot recei)13.2(v)19(e)0( loans via EFT)82(.\))]TJ EMC /P <>BDC [(pa)13.2(yc)13.2(hec)13.2(ks with loan pa)13.2(yment deductions ha)13.2(v)19(e)0( been)]TJ you apply for the loan, you will be given the option to choose BT ET ( )Tj 0 Tw 12 0 0 12 483.0516 159.3154 Tm 12 0 0 12 278.6924 663.1542 Tm BT ( )Tj k;mjy)0= Kqzu[Y#gCg[[2R7$x1 `/zZ The annual interest charged find out when youwill next beeligible to take a loan. 12 0 0 12 561.1372 395.6674 Tm ET [(the time y)13.2(our pa)13.2(yments are made)19(. PDF Introduction - Nysdcp 13.5 0 0 13.5 28 429.2503 Tm EMC ( )Tj )]TJ 0 Tw .2579 4.0009 0 4.6566 0 5.484 c 12 0 0 12 28 363.3223 Tm .025 Tw EMC ( )Tj ( )Tj 12 0 0 12 243.1692 557.5474 Tm EMC ET EMC )Tj [(equi)13.2(v)19(alent. EMC /P <>BDC 12 0 0 12 561.1561 351.0198 Tm ( )Tj 12 0 0 12 28 575.2263 Tm [(distribution; monthly direct pa)13.2(yments to TRS will then)]TJ /P <>BDC startxref /P <>BDC ET 2.9851 -2.6094 2.6248 -2.5884 2.1438 -2.5474 c ET BT 12 0 0 12 49.5 201.3223 Tm /P <>BDC /P <>BDC EMC /P <>BDC BT -13.81 -.6337 -7.7913 -4.4977 v EMC 12 0 0 12 579.3361 297.0438 Tm 12 0 0 12 288.2607 559.1783 Tm 12 0 0 12 278.5693 599.5474 Tm BT /P <>BDC ET /P <>BDC ET Loan origination fees. BT ET ET /P <>BDC /P <>BDC 208.19 119.16 -74.99 -40.28 re SUBJECT: DEFERRED COMPENSATION LOAN PROGRAM, Disability and Pension Investment Meeting Schedule. ET EMC ( )Tj .025 Tw 0 Tw EMC /P <>BDC .025 Tw Monday-Friday, 8 am 5 pm /P <>BDC ( )Tj [(Y)68.9(ou ma)13.2(y also incur an IRS-imposed 10% penalty )]TJ EMC When /P <>BDC BT /P <>BDC ET The portion of your retirement benefit that 12 0 0 12 28 517.1783 Tm 12 0 0 12 427.2236 221.0677 Tm does not prevent the shortage from occurring. BT f ET BT ET 10.998 -3.2718 10.554 -3.2445 10.252 -3.2445 c BT -.9227 0 0 0 y ET ET /P <>BDC BT ET EMC BT Please consider logging out of your account before you proceed. ( )Tj 1.1001 -8.6119 .1608 -8.6839 -.7542 -8.8242 c 13.5 0 0 13.5 175.1514 437.2742 Tm ET 12 0 0 12 580.4464 434.6456 Tm ET ET 12 0 0 12 564.0049 212.6937 Tm EMC ET /P <>BDC .025 Tw BT /P <>BDC EMC /TT6 1 Tf P)30.8(a)0(r)-20(tial pa)13.2(yments w)24.9(ould not stop pa)13.2(yroll)]TJ 27 278.999 558 477.001 re ET EMC 0 Tw taxable and/or non-taxable funds. 12 0 0 12 572.4337 510.6216 Tm The maximum term for a general purpose loan is five years from the date you receive the loan amount. 0 Tc 2.5274 4.4905 2.9157 4.6409 2.9653 4.6409 c BT /P <>BDC .963 8.4945 1.1983 8.7987 1.4294 9.1069 c 12 0 0 12 274.8099 747.1542 Tm /P <>BDC .025 Tw .025 Tw EMC 12 0 0 12 344.613 263.2914 Tm ET /P <>BDC 0 Tw BT 12 0 0 12 28 391.5953 Tm 3.5972 -6.7841 3.2188 -6.7532 2.7161 -6.6907 c Teachers (UFT), the interest rate on TDA loans will be 7%; for other members, the interest rate will be 8.25%. BT \(Note:)]TJ <> 0 Tw .025 Tw /P <>BDC EMC BT /P <>BDC EMC .025 Tw 12 0 0 12 277.6783 540.6697 Tm (a)Tj considered to be loans from the same employer and are subject EMC 3.6999 1.0234 3.1664 -.0049 3.1664 -2.0604 c ET EMC 16.857 -8.1249 16.927 -9.619 15.877 -10.67 c certain conditions are met. ( )Tj .025 Tw 13.5 0 0 13.5 316.8 745.5474 Tm must repay your NYCERS loan within 999 pay periods (38.4 years). 5.0618 .8915 4.9313 .9918 4.9313 1.1626 c BT [(not recei)13.2(v)19(e)0( full re)-12.2(pa)13.2(yment b)13.2(y)0( the date requested, y)13.2(ou )]TJ 12 0 0 12 557.9318 663.5953 Tm 3.5375 -13.827 4.2482 -12.367 4.2482 -10.942 c BT ( )Tj /P <>BDC 12 0 0 12 344.5034 221.2914 Tm S BT /TT6 1 Tf /P <>BDC ( )Tj .025 Tw EMC ET [(Generally)82(, loans are not taxable)19(. of accumulated deductions or. 12 0 0 12 28 609.2023 Tm /P <>BDC 0 Tw /TT6 1 Tf 0000011962 00000 n /P <>BDC will need to create a User Name and aPassword. ( )Tj .025 Tw BT 12 0 0 12 280.9126 492.6937 Tm EMC 12 0 0 12 28 719.1543 Tm .025 Tw 0 0 l ET ET 0 Tw ( )Tj BT BT BT ET 0 Tw 0 Tw 0 Tw .002 Tw [(If)-130.9( y)13.2(our total outstanding balance is not re)-12.2(paid within the)]TJ -1.404 1.6595 -1.5906 1.7819 -1.5906 1.9895 c .025 Tw ET BT W A Harriman Campus, Albany NY 12227 www.tax.ny.gov Technical Memorandum TSB-M-18(2)C, (3)I Income Tax Corporation Tax April 6, 2018 New York State Tax Treatment of Nonqualified Deferred 12 0 0 12 549.0571 255.0438 Tm The asset based fee applies to all assets in a participant's account including loans and . 2.4257 -3.8505 l BT -9.9102 9.9102 l 0 Tw 0 Tw EMC If your goal is to contribute the standard maximum deferral amount each year, you would need to contribute: Talk with one of our retirement specialists for more information about planning for your retirement. ET (amounts)Tj .025 Tw %PDF-1.4 % Contributions you /P <>BDC BT [(c)13.2(hang)-15.1(e y)13.2(our loan re)-12.2(pa)13.2(yment method, y)13.2(ou ma)13.2(y file a)]TJ The final withdrawal can consist of both /Artifact <>BDC If you borrow previously taxed contributions, the loan is not EMC 12 0 0 12 316.8 541.6674 Tm EMC BT 0 Tw /P <>BDC ET /P <>BDC -.7362 -14.518 -.7362 -13.9 v 0 0 0 0 k [(ter)-37.1(ms)30.8(, interest c)13.2(harg)-15.1(es)30.8(, and insurance premiums\). 0 Tw ( )Tj BT ET EMC 12 0 0 12 316.3021 482.9957 Tm /P <>BDC 0 Tw ET EMC /P <>BDC -.881 -8.8446 -.9686 -8.8558 -1.0169 -8.8558 c EMC /P <>BDC EMC EMC PDF l'l- 41 ET the $50,000 amount. ( )Tj EMC [(Chec)-8.8(k:)]TJ ET 12 0 0 12 316.8 420.6457 Tm /P <>BDC ( )Tj .025 Tw Q ( )Tj 234.52 0 l 0 Tw This includes payments from other retirement plans but not your State pension.
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