Retirement Planning Tips for New York State Employees
Tip of the Month (taken directly from the Self-Help Guide)
When I leave employment, may a lump sum payment for accrued but unused vacation leave be deferred to the Deferred Compensation Plan?
Yes, provided that those deferrals are received by the Deferred Compensation Plan no later than 75 calendar days after your last day of employment, or within the calendar year you terminated employment. To speak to a Deferred Compensation Account Executive or HELPLINE Representative, call (800) 422-8463. Representatives are available Monday through Friday, from 8:00 a.m. to 11:00 p.m., and Saturdays from 9:00 a.m. to 6:00 p.m., except holidays. You may also visit the Deferred Compensation Plan website at www.nysdcp.com.