As you plan for your retirement, also consider consolidating your other retirement savings. Your rollover IRAs and your other employer defined contribution plans can be consolidated into the Deferred Compensation Plan. Keeping track of your retirement assets has never been easier! Let the low cost of the Plan’s investments pay off for you.

Participants have the ability to aggregate all their before–tax contributions and earnings from other 401(k) plans, 403(b) plans, 401(a), 457 plans and rollover IRAs into the City’s 401(k) Plan. The Roth 401(k) Plan will only accept rollovers from other Roth 401(k) plans.

In addition, you can also roll over the taxable portion of your final pension payment/loan from your defined benefit plan (NYCERS, Police Pension Fund, Fire Department Pension Fund, BERS, TRS) and eligible union annuity fund (403(a) programs) into the pre-tax portion of the 401(k) Plan.

The 457 Plan can accept rollovers of before-tax contributions and earnings from other 457 plans only.

Rollovers from the City's 457 Plan to the 401(k) cannot occur until severence from City service.  Furthermore, 457 assets that are rolled into a 401(k) or IRA may become subject to early withdrawal penalties if withdrawn from the new plan prior to age 59 1/2.

To complete the necessary form to effect an incoming rollover, go to the Forms and Downloads section of this website.