Do City workers have access to a defined contribution plan or any other types of retirement savings plans?

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NYCTaxpayer

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Posted 8 years ago

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Official Response
The City offers a variety of deferred compensation plans with a variety of investment choices that are defined contribution plans. Subject to limitations, employees can contribute a portion of their annual income to these plans. Generally, the investment income of these plans accumulate tax free but income taxes are payable when funds are withdrawn. See http://www.nyc.gov/html/olr/html/defe... for more info.
Members of TRS and BERS also can participate in 403(b) plans (Tax-Deferred Annuity Programs) that are administered by those systems.