Purpose

To notify agencies that CUNY employees may now elect to participate in the New York State Deferred Compensation Plan.

Background

The Board of Trustees of the City University of New York has approved the participation of the University’s employees in the State of New York’s Deferred Compensation Plan. Prior to this decision, CUNY employees were eligible to elect participation into a 403B plan only. Employees will now be eligible to participate in a 403B plan as well as the 457 Plan. The third party vendor who currently administers the 457 Plan is Nationwide Retirement Solutions (NRS).

Affected Employees

All CUNY employees

Effective Date(s)

Paychecks dated September 13, 2007

OSC Actions

OSC will process a file from the New York State Deferred Compensation Plan’s Administrative Service Agency each pay cycle.

Agency Actions

No agency action is required.

Questions

Questions regarding this bulletin may be directed to the University Manager of Payroll Systems and Operations at CUNY Central Office.