New York City Deferred Compensation Plan - Summary of Administrative Revenues and Expenses
The Deferred Compensation Plan is an umbrella program for three defined contribution plans, the 457 Plan, 401(k) Plan, and 401(a) Plan, and a deemed IRA called the New York City Employee (NYCE) IRA. The administration of the City of New York Deferred Compensation Plan is entirely self-funded. DCP receives revenue through a combination of participants’ quarterly administrative fees, amounts deducted from the net asset values, and interest earned on assets held in the DCP’s custodial account. These revenue sources cover custodial and recordkeeping expenses, communications, and administrative expenses. DCP Annual Comprehensive Financial Audit is available on the DCP website at: https://www.nyc.gov/site/olr/deferred/dcp-forms-and-downloads.page
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| description | The Deferred Compensation Plan is an umbrella program for three defined contribution plans, the 457 Plan, 401(k) Plan, and 401(a) Plan, and a deemed IRA called the New York City Employee (NYCE) IRA. The administration of the City of New York Deferred Compensation Plan is entirely self-funded. DCP receives revenue through a combination of participants’ quarterly administrative fees, amounts deducted from the net asset values, and interest earned on assets held in the DCP’s custodial account. These revenue sources cover custodial and recordkeeping expenses, communications, and administrative expenses. DCP Annual Comprehensive Financial Audit is available on the DCP website at: https://www.nyc.gov/site/olr/deferred/dcp-forms-and-downloads.page |
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| issued | 2025-04-30 |
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| modified | 2025-05-23 |
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| title | New York City Deferred Compensation Plan - Summary of Administrative Revenues and Expenses |
