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The Deferred Compensation Plan
Important Notice
CUSTOMER SERVICE CENTER UPDATE: The Deferred Compensation Plan's Client Service Center is now open for in-person or virtual meetings by appointment only.
All appointments must be scheduled online, in advance. We look forward to seeing you soon!
As always, you can speak with a Customer Service Representative about the Plan and your account(s) on the phone by calling at (212) 306-7760.
Learn About Our Individual Consultation Service
Plan News
Annual Contribution limit increases in 2025. Read more about the annual limit amounts.
General Information
The New York City Deferred Compensation Plan (DCP) allows eligible New York City employees a way to save for retirement through convenient payroll deductions. DCP is comprised of two programs: a 457 Plan and a 401(k) Plan, both of which offer pre-tax and Roth (after-tax) options.
For employees enrolled in a City pension plan, and for non-pension member employees who are contributing less than 7.5% to either the 457 Plan or the 401(k), DCP is a supplemental savings plan to their pension and Social Security.
For non-pension member employees who elect to contribute 7.5% or more to the Deferred Compensation Plan, DCP is their sole retirement plan in lieu of Social Security. To learn more about this, play our DCP in Lieu of FICA Video.
DCP NEWS
Did you know that eight in ten investors either feel they are not saving enough for retirement or aren't sure how much they need to save. Are you sure that you’re saving enough for your future? Visit our Financial Wellness Center.
Key differences between the 457 and 401(k) Plans
How to Contact Us
Email the Plan: Inquiries and questions should be sent via email to the Plan.
Call the Client Service Call Center during regular business hours:
Phone: (212) 306-7760
Outside NYC: (888) DCP-3113 (888-327-3113)
