MCC Daily Tribune Archive

It's Open Enrollment Time for 403b and NYS Deferred Compensation Accounts


It’s open enrollment time during the month of November 2014 for Supplemental Retirement Accounts (403b’s).  A Supplemental Retirement Account is a pre-tax retirement savings program. This type of account allows you to defer paying taxes on savings you set aside from your paycheck until you withdraw it after retirement. We also offer New York State 457(b) Deferred Compensation Plans which have the same benefits. Please contact the HR Office for further information about 457(b) plans.

If you have an existing Supplemental Retirement Account (403b), your annual goal amount from 2014 will roll over into 2015, UNLESS your annual goal was over $17,500 in 2014. If your annual goal was over $17,500, you must complete a new form for 2015. 

If you want to make any changes to your annual goal amount, you must complete a new form. This is especially important for those who made adjustments to their goal amounts in the middle of this year or who started a new plan after the beginning of 2014. You will need to adjust your goal amount to reflect a full year of deductions.

Enrollment Forms are now available for Supplemental Retirement Accounts (both the 403b and NYS Deferred Comp Plans) through the attached links, on line in HR Forms, and in the Human Resources Office. All forms are due back to Human Resources no later than November 30, 2014.

Please feel free to call the HR Office at 292-2048 with questions.

Karen Rheinheimer
Human Resources
10/28/2014


Attachments:
icon Salary Reduction Agreement 2015.pdf
icon NYS Deferred Comp 2015.pdf