12 0 0 12 555.1033 518.9957 Tm Q BT 12 0 0 12 49.875 685.1782 Tm 12 0 0 12 55.25 155.3703 Tm 12 0 0 12 266.22 692.6217 Tm [(allo)13.2(w)13.2(ance via EFT)82(. EMC BT 12 0 0 12 278.9877 669.5474 Tm 12 0 0 12 28 477.2263 Tm /P <>BDC 12 0 0 12 28 391.3223 Tm 0 Tc .025 Tw BT BT W n /P <>BDC 0 0 0 1 k 12 0 0 12 513.1503 475.1713 Tm 12 0 0 12 294.1869 433.5953 Tm /P <>BDC (required to withhold an amount equaling 20% of)Tj EMC <]/Prev 156179>> ET /P <>BDC EMC EMC .025 Tw EMC 12 0 0 12 288.2537 381.2743 Tm 12 0 0 12 552.0577 240.6937 Tm 12 0 0 12 68.5297 435.1954 Tm /TT6 1 Tf BT -1.5135 7.505 -1.713 7.6273 -1.713 7.8724 c 1.0817 -1.8676 .5966 -1.7504 .0724 -1.5833 c 6.1239 -2.6052 6.0783 -2.6094 6.0412 -2.6094 c BT BT EMC EMC 4.1584 -6.0578 l q 1 0 0 1 171.795 96.048 cm 0 0 m ET 6.203 5.9904 l ET /P <>BDC 12 0 0 12 286.9494 747.1542 Tm ET visit the New York State Deferred Compensation Plan website or call 1-800-422-8463 to learn more about a deferred compensation or a similar plan. BT EMC EMC BT /GS1 gs BT BT 2.5255 -1.953 2.748 -1.9979 3.0461 -2.0128 c BT EMC [(debited in any combination of)-130.9( y)13.2(our P)30.8(asspor)-20(t Funds)30.8(,)]TJ ET /P <>BDC EMC S 7.2233 -.2361 7.8622 .2122 v ET BT ET -23.059 -21.286 -23.25 -13.303 v BT /P <>BDC (5)Tj /P <>BDC For members with over three years but under 10 years of .025 Tw ET at the Police Pension Fund. 0 Tw 0 Tw /P <>BDC )]TJ /P <>BDC /P <>BDC If subject to tax, a loan is counted as ordinary income for EMC ET ET 0 Tw 12 0 0 12 212.8536 277.2674 Tm /P <>BDC EMC 12 0 0 12 28 497.2023 Tm EMC -7.3846 -5.4582 -7.7831 -4.3112 -7.7831 -2.9357 c 12 0 0 12 286.7407 547.2263 Tm PDF A Plan for Your Future - John Jay College of Criminal Justice ( )Tj .025 Tw )]TJ .025 Tw 12 0 0 12 28 349.3223 Tm 12 0 0 12 290.8166 405.5954 Tm /P <>BDC /TT2 1 Tf BT ET EMC 12 0 0 12 563.8654 358.6697 Tm EMC /P <>BDC ET 12 0 0 12 28 539.2023 Tm 0 Tw /P <>BDC Q /P <>BDC 0 Tw Teachers (UFT), the interest rate on TDA loans will be 7%; for other members, the interest rate will be 8.25%. .024 -1.5247 0 -1.3981 0 -1.202 c 6.7293 -1.3451 6.8396 -.8024 6.8396 .0066 c ( )Tj 8.9878 1.7664 9.2649 1.7828 9.6353 1.8167 c BT 0 Tw -5.8806 -8.024 -4.6345 -8.6179 -3.0341 -8.6179 c BT BT /P <>BDC 12 0 0 12 278.3057 657.1782 Tm ET 12 0 0 12 569.4963 586.9717 Tm 6.9003 8.0692 6.394 7.505 5.3839 7.505 c /P <>BDC ET -.4856 -1.2132 -2.281 -1.941 v /P <>BDC [(y)13.2(our loan pa)13.2(yment amount will include the interest and)]TJ BT .2794 1.3472 .5664 1.331 .7604 1.331 c 12 0 0 12 278.2224 573.1783 Tm -.0047 Tc EMC -1.3123 6.0903 -1.0028 6.4364 -.3834 7.0678 c BT 12 0 0 12 49.5 243.3223 Tm 0 0 0 1 k BT BT .025 Tw [(T)51.8(AX CONSEQUENCES OF DISTRIBUTIONS)]TJ BT /TT6 1 Tf /P <>BDC /P <>BDC (347) 643-3000 Within NYC ET Y)68.8(our TD)49.8(A loan amount will be debited from)]TJ /P <>BDC /P <>BDC /P <>BDC 12 0 0 12 28 435.2263 Tm 0 Tw ( )Tj /P <>BDC ET Q BT 2.5124 .8892 2.4673 .8785 2.4156 .8637 c (distributions:)Tj 12 0 0 12 42.7984 520.6937 Tm 12 0 0 12 316.8 586.5977 Tm /GS2 gs 12 0 0 12 275.0842 511.2023 Tm EMC f 5.7839 -2.2581 5.8828 -2.1307 6.0795 -1.9805 c /TT12 1 Tf .025 Tw -.0047 Tc [(withholding deficit will be applied ag)-20(ainst a TD)49.8(A)]TJ BT 0 0 l BT 0000013195 00000 n EMC 12 0 0 12 277.3911 339.2434 Tm 6age and service requirements. BT BT .025 Tw You can borrow up to 50 percent of your vested account balance, with a minimum loan of $1,000 up to a maximum of $50,000. 309 0 obj 0 Tw BT Q 0 Tw EMC BT ( )Tj /P <>BDC ( )Tj ( )Tj ET 0 1.0513 -.1947 1.6992 -.5826 1.9433 c BT -10.16 -1.9194 -9.5397 -.2925 -8.2984 1.0488 c EMC 12 0 0 12 316.8 221.6914 Tm ( )Tj BT [(is federally taxable and ma)13.2(y be subject to state )]TJ ( )Tj /P <>BDC EMC PDF Loan Originator (LO) Compensation - FDIC /P <>BDC BT /P <>BDC .025 Tw S ET ( )Tj 12 0 0 12 50.3464 430.7177 Tm gross salary. BT EMC [(Y)68.9(ou are an in-ser)-39.1(vice member or a member on a)]TJ .025 Tw ET -9.9867 -2.9669 -10.399 -1.7271 v 0000006953 00000 n 0 Tw ( )Tj 327 0 obj q 1 0 0 1 308.556 656.696 cm 0 0 m ET .025 Tw EMC /P <>BDC f EMC BT 0 Tw If)-130.9( y)13.2(our election is not v)19(alid due)]TJ ET ET 0 Tw 12 0 0 12 549.0571 255.0438 Tm ( )Tj ET /P <>BDC 12 0 0 12 343.355 746.9478 Tm /P <>BDC .025 Tw 12 0 0 12 28.3984 746.5977 Tm 6.3356 -1.7783 6.4793 -1.6586 6.5112 -1.6215 c ET 12 0 0 12 566.6721 205.0438 Tm /TT2 1 Tf /P <>BDC /TT6 1 Tf q 1 0 0 1 302.494 639.268 cm 0 0 m ET .025 Tw Y)68.8(ou ma)13.2(y a)13.2(v)19(oid loan pa)13.2(yment deductions for the)]TJ BT EMC /P <>BDC /P <>BDC There are two different types of contributions that can be . Q 0 Tw 0 Tc /Figure <>BDC ET /P <>BDC ET ET -.8569 2.4742 -.7775 2.4927 -.6421 2.5226 c Prior to that)]TJ [(L)18.1(O)21(AN AMOUNT)-7.8(S)]TJ BT [(public emplo)19(yer)19(-sponsored prog)-24.9(rams)38.1(. ET ET .025 Tw EMC /P <>BDC within 60 days of its issuance to avoid taxation and a possible early withdrawal 12 0 0 12 266.8557 303.2503 Tm on unpaid loan balances is currently 4%. 0 792.015 612 -792 re /TT2 1 Tf Non-414(h) Contributions were deducted from your BT BT ( )Tj The taxable portion of a loan is the portion of the principal [(that y)13.2(our loan be forw)13.2(arded via EFT to the account)]TJ loan balance exceeds the $50,000 DCLP maximum. ET ( )Tj 12 0 0 12 28 677.1543 Tm 0 Tw EMC EMC BT 2.1275 -.7084 2.1674 -1.1731 2.2446 -1.4379 c -1.3093 6.555 -1.1884 6.5737 -1.0652 6.5961 c 12 0 0 12 256.3986 265.3223 Tm BT 12 0 0 12 28 409.2743 Tm q 1 0 0 1 165.586 99.995 cm 0 0 m /P <>BDC 12 0 0 12 28 313.2982 Tm ET BT /P <>BDC 0 792 612 -792 re 12 0 0 12 281.8852 699.1783 Tm FAQs - New York City Employees' Retirement System .0254 Tw member. /P <>BDC EMC /TT2 1 Tf ET f 0 Tc ET ET .025 Tw .025 Tw EMC EMC ( )Tj 1.5429 1.5429 l )]TJ EMC .025 Tw /P <>BDC -5.9689 3.6397 -5.6776 5.4353 v /P <>BDC [(the total per)19(-installment pa)13.2(yment amount on all TRS)]TJ account,log in and check the Loan Information page to ET ET ( )Tj (877) 669-2377 Toll-Free If not repaid, a shortage will EMC EMC 12 0 0 12 316.3021 267.0197 Tm EMC ( )Tj .8249 1.1638 2.5236 1.3589 v ( )Tj .025 Tw EMC reduce the members pension. BT /TT6 1 Tf 0 Tw EMC Q f BT -.5823 1.3591 0 0 v ET ( )Tj ( )Tj ( )Tj ET loan you want to take out .025 Tw ( )Tj The interest rate will be prime rate plus 1% (currently 7.5%) which will be paid back into members accounts. ET BT -9.9102 9.9102 l BT 12 0 0 12 28 683.5474 Tm -6.2717 -6.1445 -4.1806 -6.2081 v /P <>BDC ( )Tj ( )Tj -.0047 Tc .025 Tw /P <>BDC Interest will continue to accrue at your current interest rate or 6%, whichever is less, during the period of your military leave. BT )]TJ EMC EMC 12 0 0 12 344.5034 207.2914 Tm 12 0 0 12 338.675 601.6194 Tm /P <>BDC /P <>BDC Police Pension fund members seeking a DCP loan must have the Police EMC ET ( )Tj ET ( )Tj EMC EMC 12 0 0 12 325.1284 393.2194 Tm ET /P <>BDC Its fast, BT 12 0 0 12 275.154 318.7177 Tm tax-free/taxable breakdown of their ASF contributions as well as the 1age and service requirements. 6.7603 .4984 6.388 -.3459 5.6448 -.9262 c /P <>BDC ( )Tj EMC [(pa)13.2(yments)38.1(. .025 Tw BT 12 0 0 12 316.8 128.6937 Tm EMC /P <>BDC ET /P <>BDC the Police Pension Fund during the 12-month period ending on the date of the .025 Tw EMC ( )Tj 0 Tw 12 0 0 12 574.9929 373.2434 Tm EMC BT 12 0 0 12 28 655.5474 Tm -.6338 -1.5836 -2.9776 -2.5338 v /TT2 1 Tf 12 0 0 12 179.2377 257.3223 Tm of: a) 50% of a participants DCP account about loans: The amount of your retirement benefit is based on the Tier and [(regulations)30.8(, outstanding loan balances ma)13.2(y not be)]TJ 12 0 0 12 570.001 601.6194 Tm 4.046 6.823 l ET EMC (balance will be considered a distribution; this)Tj 12 0 0 12 28 163.3703 Tm Early Retirement, and TDA loan programs, as well as the New York City Deferred Compensation Plan Loan Programs (457 and 401(k)); (b) 75% of your Member Contribution Accumulation Fund Account (MCAF) less any . .025 Tw /P <>BDC .025 Tw 12 0 0 12 316.8 103.7154 Tm ( )Tj /P <>BDC 0000005352 00000 n EMC 12 0 0 12 341.5881 373.2434 Tm 5.2323 2.5634 4.5745 2.8403 3.5403 3.2203 c ( )Tj ET .025 Tw /P <>BDC EMC [(allo)13.2(w)13.2(ance or monthly direct pa)13.2(yments to TRS)38.1(. not be combined. ( )Tj /P <>BDC The NYC 3.7711 1.3445 3.6203 1.2286 3.328 1.1703 c -.0047 Tc 1.1412 -5.6773 .8354 -6.0532 .2242 -6.5629 c 6.4844 -1.9085 5.3003 -2.2581 3.8147 -2.2581 c 12 0 0 12 38.8 499.2502 Tm Tier 8.8678 -9.0602 5.5107 -5.3215 v /P <>BDC ET ( )Tj [(If)-130.9( y)13.2(ou w)13.2(ant to re)-12.2(pa)13.2(y y)13.2(our total outstanding loan balance)]TJ 12 0 0 12 289.4373 587.1782 Tm -8.0125 0 l 3.5972 -6.7841 3.2188 -6.7532 2.7161 -6.6907 c Brooklyn, NY 11201-3724. EMC EMC [(www)64.9(.trsnyc.or)18.1(g)]TJ /TT2 1 Tf /GS2 gs 12 0 0 12 279.7747 374.7177 Tm 12 0 0 12 256.711 416.7177 Tm ( )Tj ET BT 4.2543 6.823 4.6002 6.9814 5.0848 7.2988 c .025 Tw Due to the financial impact of COVID-19, the CARES increases the maximum loan amount to $100,000 (currently $50,000) and permits loans of 100% (currently 50%) of the present value of the participant's account. ( )Tj EMC 12.428 -14.577 -.1177 -14.577 y [(Y)68.9(ou will not be eligible for future TD)49.8(A loans unless y)13.2(o)0(u)]TJ EMC Deferred Compensation Loans link.). 1.4896 -7.411 1.0905 -7.9017 .2931 -8.5671 c -1.3902 3.1049 0 1.7148 0 0 c .025 Tw 12 0 0 12 292.256 449.1954 Tm BT Thats because the funds borrowed were earning 8.25% interest in 185 0 obj 12 0 0 12 338.675 635.5953 Tm certain conditions are met. BT ET ET [(REP)43.9(A)59.1(YMENT)]TJ ( )Tj ( )Tj 75% of your TDA account balance, less any . 8.0972 7.5973 7.9661 7.4861 7.7025 7.4861 c /P <>BDC 12 0 0 12 316.8 302.6696 Tm 0 Tw 0 Tc ET -1.7088 8.5568 -1.5512 8.5812 -1.3905 8.6104 c .025 Tw /P <>BDC BT ET ET 13.5 0 0 13.5 316.8 561.6434 Tm .0187 -1.1679 0 -1.071 0 -.9208 c Less than 30 [( 1 \(888\) 8-NYC-TRS )]TJ BT BT BT EMC 12 0 0 12 316.8 316.6697 Tm ET EMC -.679 4.1253 -.3883 2.4267 v BT 12 0 0 12 316.8 274.6697 Tm 0 0 l BT )]TJ BT [(notification letter)24.9(, the total balance will be transfer)-24.9(red )]TJ 0 Tw [(y)13.2(our TD)49.8(A loan amount \(including the ser)-39.1(vice c)13.2(harg)-15.2(e\) will)]TJ BT 10 0 0 10 564.5298 147.6388 Tm to be distributed and return the tax authorization letter to EMC [(da)13.2(y immediately preceding y)13.2(our effecti)13.2(v)19(e)0( retirement date)]TJ member takes a pension loan using taxable funds within five years of retirement /P <>BDC EMC . BT ET [(Unless y)13.2(ou elect TD)49.8(A Defer)-24.9(ral status at retirement, )]TJ -.1293 -1.311 0 -.7689 0 0 c Q Tier /P <>BDC . 0 Tw 12 0 0 12 553.016 139.3394 Tm [(w)24.9(ould lik)13.2(e to roll o)13.2(v)19(er any por)-20(tion of)-130.9( y)13.2(our eligible)]TJ EMC /P <>BDC 133.2 119.16 74.99 -40.28 re BT [(roll o)13.2(v)19(er)38.1(. ET EMC [(, amount or duration of)-130.9( pa)13.2(yments\), y)13.2(ou m)13.2(ust submit)]TJ ( )Tj EMC /P <>BDC 2.6642 1.8452 3.0461 1.8671 3.2992 1.8671 c .025 Tw -.84 1.1084 -.4414 2.8297 v 12 0 0 12 55.4142 203.3463 Tm q 1 0 0 1 270.945 657.26 cm 0 0 m BT .025 Tw 12 0 0 12 316.8 608.9957 Tm -.0047 Tc principal residence, the IRS permits the member to defer taxes on that loan if BT EMC 408.003 80.854 m BT BT made to NYCERS on a pre-tax basis are considered 414(h) .025 Tw EMC If your goal is to contribute the standard maximum deferral amount each year, you would need to contribute: Talk with one of our retirement specialists for more information about planning for your retirement. BT Monday-Friday 9 am 5 pm 12 0 0 12 28 391.5953 Tm ET EMC EMC 12 0 0 12 28.8274 603.2803 Tm BT -13.379 14.788 -12.226 15.941 -10.817 15.941 c ( )Tj -.8049 0 0 0 v EMC 12 0 0 12 338.675 297.0438 Tm EMC any 12-month period. 12 0 0 12 28 685.1782 Tm .025 Tw 0 Tc EMC EMC f )]TJ /TT2 1 Tf BT 0 Tw Ordinarily, a pension loan must be repaid within five years ( )Tj f ( )Tj note that under IRS regulations, a loan from NYCERS or a loan 6.5396 1.3817 6.1985 1.9503 5.5159 2.3877 c .025 Tw 12 0 0 12 567.3387 482.9957 Tm /P <>BDC EMC BT .025 Tw ET 2.5616 2.5618 l To see the Plan's low management fees, visit the Investment Funds section of this website. 12 0 0 12 568.8612 337.0197 Tm 12 0 0 12 87.5805 559.1783 Tm /TT2 1 Tf .025 Tw 0 Tw 0 Tw 12 0 0 12 317.6284 475.1713 Tm /P <>BDC ET ( )Tj you must repay your NYCERS loan within five years. ( )Tj EMC ET BT 12 0 0 12 273.2256 683.5474 Tm .025 Tw ET ( )Tj EMC 12 0 0 12 578.2673 325.0438 Tm For security reasons, your session is about to timeout. ( )Tj $6,500. ET ( )Tj f ( )Tj BT 0 Tc BT EMC BT EMC ( )Tj 0 Tw ( )Tj ET EMC ET EMC 133.2 119.16 m 12 0 0 12 28 575.2263 Tm 0 Tw [(pa)13.2(yc)13.2(hec)13.2(ks through direct de)-12.2(posit, or if)-130.9( y)13.2(ou recei)13.2(v)19(e)]TJ 0 Tw [(at ann)13.2(uitization:)]TJ 4.5605 2.7252 5.701 2.028 v The portion of your retirement benefit that EMC 0 Tw BT 7.9189 -7.0963 5.3847 -8.7426 v ( )Tj EMC 0 Tw /P <>BDC ET )]TJ 12 0 0 12 284.3522 388.7177 Tm /P <>BDC EMC A member under 0 Tw EMC (15)Tj -5.7646 2.4077 -6.8415 3.548 v /P <>BDC 12 0 0 12 289.6927 419.5954 Tm [(do not elect TD)49.8(A Defer)-24.9(ral status within 30 da)13.2(ys of)]TJ ET BT ( )Tj The Rules and Regulations of the New York State Deferred Compensation Board (Sections 9001 9006 of the Official Compilation of Rules and Regulations of New York State) pertain to the governance and general administration of deferred compensation plans in New York State. EMC .9613 1.331 1.2576 1.3472 1.6491 1.3805 c EMC /P <>BDC EMC /TT20 1 Tf 12 0 0 12 272.9724 705.1542 Tm ET endstream endobj 40 0 obj <>stream -6.0181 -.3163 -5.3215 1.5208 v 27 278.999 558 477.001 re .025 Tw EMC ET BT S 0 Tw uniformed service: - The loan exceeds the greater of 50% [(y)13.2(our loans)38.1(. 12 0 0 12 28 299.2983 Tm BT 12 0 0 12 578.1272 221.0677 Tm 12 0 0 12 28.3984 726.5977 Tm /P <>BDC .025 Tw 12 0 0 12 28 345.2503 Tm ET EMC ET BT EMC EMC ( )Tj 0 Tw 12 0 0 12 49.5 187.3223 Tm ET .025 Tw ( )Tj EMC 12 0 0 12 270.1482 691.1543 Tm .9853 -2.7341 .0324 -3.8049 v /P <>BDC .4191 2.8107 .7619 2.9513 1.3792 3.2108 c EMC BT ET EMC [(, se)-12.2(parate loan balances)30.8(, re)-12.2(pa)13.2(yment)]TJ EMC 12 0 0 12 28 733.1543 Tm [(a loan to y)13.2(ou during y)13.2(our lea)13.2(v)19(e)0( of)-130.9( absence)13.2(, the g)-24.9(race)]TJ Loan Status While on a Non-Military Leave of Absence EMC If you choose to repay your loan after retirement, the monthly 12 0 0 12 28 377.3223 Tm BT /P <>BDC q 1 0 0 1 150.247 88.672 cm 0 0 m [(to TRS)38.1(. 4.4164 -1.6497 3.009 -1.1156 v .025 Tw Once youve registeredyour MyNYCERSaccount, you will As ofMarch 31, 2023 GSAMStable Value, LLC had$58.65 billion in assetsunder supervision (AUS).GSAM Stable Value, LLC isheadquartered inBurlington, Vermont. 12 0 0 12 571.8149 493.6674 Tm 12 0 0 12 576.7205 600.5977 Tm 0 Tc EMC EMC BT y-S73qzt\6b@$E > VlG 8(d0:%t`]y!"9$6%hx(DH(Dfc{kG\gEj6\dax]\;JK/K [(to pa)13.2(yments for any other TD)49.8(A loans)38.1(. ( )Tj out a loan, you must: Note: 22-Year Plan members (Tier 3) cannot 12 0 0 12 317.6284 517.1713 Tm EMC EMC The maximum residence loan exception amount is $50,000 per EMC ET 12 0 0 12 538.1215 97.3394 Tm EMC (. EMC 133.2 119.16 74.99 -40.28 re ( )Tj -4.9404 -6.5256 -5.7642 -4.5605 v BT 0 Tw ET )]TJ .025 Tw For specific 0 Tw ( )Tj 0 Tw /P <>BDC .025 Tw ( )Tj /P <>BDC EMC 12 0 0 12 571.2595 507.6674 Tm [(be reduced. EMC [(If)-130.9( y)13.2(ou are )]TJ /TT6 1 Tf /P <>BDC 12 0 0 12 571.3865 615.6194 Tm 12 0 0 12 28 519.2263 Tm EMC EMC 12 0 0 12 316.8 156.6937 Tm 0 J 0 j .9 w 10 M [] 0 d EMC BT EMC ( )Tj .025 Tw .9473 .2296 0 0 v BT ( )Tj EMC 0 Tw -.0047 Tc EMC 12 0 0 12 316.3021 454.9958 Tm BT -4.6234 -12.398 l 0 Tw /P <>BDC 1.3594 -3.1187 .7039 -2.8296 .3692 -2.2527 c EMC 0 Tw The final withdrawal can consist of both BT BT EMC /P <>BDC EMC 1.446 -12.567 1.2413 -12.47 1.2413 -12.276 c ET In addition, loan repayments cannot be made at a rate less than BT BT 0000001284 00000 n EMC %PDF-1.4 % ET BT 0 Tw 12 0 0 12 579.3272 184.6937 Tm EMC ( )Tj ET ( )Tj 0 Tw 0 Tw EMC 8.7353 -.1947 0 0 v /P <>BDC EMC tax consequences if it exceeds IRS thresholds. .025 Tw /P <>BDC ET ET ET 12 0 0 12 576.8275 448.6457 Tm EMC ET .8011 -5.0505 .4908 -4.0159 v ET EMC /P <>BDC ET [(Please note the follo)13.2(wing tax infor)-37.1(mation on TD)49.8(A loans)]TJ 12 0 0 12 49.9481 589.2263 Tm -.0047 Tc Our Mission: A voluntary retirement savings plan that provides quality investment options, investment educational programs and related services to help State and local public employees achieve their retirement savings goals. There is a $40.00 service fee for processing each loan taken on or after July 1, 2020; this fee is automatically deducted from the loan check. ( )Tj 12 0 0 12 561.3665 566.6216 Tm 12 0 0 12 316.8 525.6434 Tm BT -1.5526 .4287 -1.205 .7761 -.7763 .7761 c Monday-Friday, 8 am 5 pm 12 0 0 12 274.4369 353.2433 Tm 0 Tc 12 0 0 12 285.4984 655.5474 Tm 12 0 0 12 316.8 409.6674 Tm 2.8227 6.7845 3.9449 7.3319 4.9966 7.3319 c 155 0 obj of accumulated deductions or. ET EMC [(TD)49.8(A loan y)13.2(ou tak)13.2(e)13.2(,)0( to co)13.2(v)19(er the administrati)13.2(v)19(e)0( costs of)]TJ 0 Tc BT ( )Tj ET BT BT /P <>BDC 12 0 0 12 251.356 531.1783 Tm Deferred Compensation Loan Program (DCLP) works in conjunction with loans taken -7.3627 0 -8.0572 .6943 -8.0572 1.5429 c 12 0 0 12 49.875 561.2263 Tm EMC ET EMC 12 0 0 12 316.8 588.9957 Tm /P <>BDC ( )Tj /P <>BDC ( )Tj .025 Tw .025 Tw -.8863 5.385 -.5069 3.1677 v ET ET 0 Tc ( )Tj /P <>BDC Special 457 (b) catch-up. /P <>BDC 12 0 0 12 341.6386 297.2673 Tm BT EMC EMC 12 0 0 12 316.3021 177.0438 Tm 0 Tw q 1 0 0 1 159.225 91.535 cm 0 0 m 12 0 0 12 288.7986 655.5474 Tm BT [(balance of)-130.9( y)13.2(our DCP and TRS loans ex)24.9(ceeds $50,000,)]TJ EMC [(Def)8.5(erral Status)]TJ 12 0 0 12 316.8 145.7154 Tm ET 12 0 0 12 28 525.2023 Tm /P <>BDC ET /P <>BDC BT 12 0 0 12 343.3 676.9478 Tm /P <>BDC 12 0 0 12 572.4337 510.6216 Tm 12 0 0 12 51.5317 449.1954 Tm -.5686 1.5482 -.7555 1.5931 -1.0073 1.6227 c 0 Tw 4.1792 -6.1577 4.2074 -6.2073 4.242 -6.2073 c BT EMC 12 0 0 12 42.7984 430.7177 Tm EMC ET 3 Table of Contents 6 Why You Need to Invest for Retirement 6 Why Joining the Plan May Be a Sound . BT 12 0 0 12 514.6652 413.6433 Tm EMC [(TD)49.8(A Loan Application \(code LO15\). ( )Tj BT BT EMC .025 Tw 0 Tw ( )Tj /P <>BDC Ho)13.2(w)13.2(e)0(v)19(e)0(r)24.9(,)0( y)13.2(ou ma)13.2(y bor)-24.9(ro)13.2(w a minim)13.2(um of)-130.9( $250)]TJ ET BT /P <>BDC [(the IRS)38.1(. In the ev)19(ent of)-130.9( a dela)13.2(y or the loss of)-130.9( a)]TJ EMC [(New TD)49.8(A loans tak)13.2(en at ann)13.2(uitization are)]TJ ( )Tj ET f 0 0 0 1 k .025 Tw EMC (\) )Tj ET 7.6413 -2.5423 l 0 Tw ( )Tj 2.3094 10.771 3.4132 11.083 4.7556 11.083 c less are treated as separate loans for purposes of repayment, tax liability 12 0 0 12 338.748 615.6194 Tm EMC BT ET paychecks after tax, and are therefore not subject to taxation a /TT2 1 Tf 12 0 0 12 42.7984 692.6217 Tm /P <>BDC 0 Tw PDF NEW YORK INTEREST RATE LOCK COMMITMENT - Department of Financial Services 0 Tw EMC /P <>BDC EMC .025 Tw The State of New York Deferred Compensation Plan Administrative Manual HELPLINE: 1-800-422-8463 . .025 Tw /P <>BDC ET EMC ET ( )Tj 306 396.015 m BT ET Any amount that is rolled o)13.2(v)19(er )]TJ 12 0 0 12 316.8 373.6914 Tm -.104 2.4587 .0468 2.6392 .3483 2.6392 c BT EMC BT [(balance at ann)13.2(uitization, it will be considered )]TJ EMC ET /P <>BDC 12 0 0 12 339.0136 297.2673 Tm -8.493 8.8811 -7.8619 7.6192 v ET 0000003283 00000 n /TT2 1 Tf BT BT /P <>BDC ( )Tj to the minimum 2% periodic repayment. 12 0 0 12 582.7501 443.0198 Tm /P <>BDC BT ET [(T)-15.2(he interest rate in effect when the loan is issued will be)]TJ EMC for that calendar year. ( )Tj W n EMC -4.6103 6.3577 -2.8146 4.3683 v Tier 3, 4 and 6 memberscan take out one 12 0 0 12 157.8422 547.2263 Tm .025 Tw /P <>BDC endobj BT EMC 12 0 0 12 569.8162 302.6696 Tm BT -2.2185 -3.2787 -2.2185 -4.4567 y If)-130.9( the total)]TJ [(g)-15.1(enerally recei)13.2(v)19(e)0( paper loan applications b)13.2(y)0( the close )]TJ [(all or par)-20(t of)-130.9( the new loan is tax-free)19(. 3.5923 -2.5232 3.4691 -2.6094 3.2231 -2.6094 c 9.8436 .812 9.5869 .4225 9.3721 -.1898 c /P <>BDC Q 12 0 0 12 28 491.2263 Tm BT BT Q ET ( )Tj 12 0 0 12 316.8 427.6434 Tm /P <>BDC /P <>BDC )]TJ /P <>BDC BT /P <>BDC EMC -.0047 Tc ET k;mjy)0= Kqzu[Y#gCg[[2R7$x1 `/zZ ET 12 0 0 12 316.8 482.6216 Tm .025 Tw .025 Tw ( )Tj 12 0 0 12 558.4614 524.6216 Tm 12 0 0 12 50.2734 630.6457 Tm 12 0 0 12 563.7448 325.6913 Tm -6.4198 -4.4764 l EMC 0 Tw 3.7367 -15.899 l BT 1.1001 -8.6119 .1608 -8.6839 -.7542 -8.8242 c ET .8887 -4.0399 1.0717 -3.8832 v f .025 Tw .025 Tw [(any loan balances)30.8(, please log in to the secure section )]TJ .025 Tw EMC /P <>BDC .025 Tw 12 0 0 12 316.3021 219.0438 Tm .025 Tw [(TRS will also limit y)13.2(our maxim)13.2(um loan amount so that)]TJ 12 0 0 12 580.8597 479.6674 Tm In)]TJ 0 Tw q 1 0 0 1 207.049 100.867 cm 0 0 m EMC ET /P <>BDC ET ET BT 0 Tw f ( )Tj EMC 0 792 612 -792 re /P <>BDC )]TJ .025 Tw Eligible employees may choose to enroll in either the 457, the 401(k), or both. . EMC /P <>BDC EMC BT EMC 0 Tw (For more information visit /GS1 gs 0 Tw 4.7508 8.6159 6.2709 7.4118 v BT ( )Tj ( )Tj 12 0 0 12 317.6284 159.3154 Tm ET 0 Tw ET /P <>BDC 2.7837 10.096 2.1799 9.5908 2.1799 8.5811 c .025 Tw .025 Tw 12 0 0 12 263.4165 678.6216 Tm 4.3514 8.4899 4.8501 8.4565 5.1418 8.39 c ET -1.8703 3.0366 -1.61 3.1136 -1.1477 3.22 c ET 12 0 0 12 228.7903 497.2023 Tm )]TJ 6.8849 1.3531 7.0975 1.3657 7.3809 1.3917 c 12 0 0 12 290.0219 421.2262 Tm EMC 12 0 0 12 28 407.2263 Tm EMC 12 0 0 12 28 341.2983 Tm ( )Tj ( )Tj /P <>BDC [(of)-130.9( default if)-130.9( y)13.2(ou ha)13.2(v)19(e)0( an outstanding loan balance )]TJ 0 Tw ET ET you three loan processing methods (Refinance, Original Terms, and EMC /P <>BDC /P <>BDC ( )Tj /P <>BDC -4.5548 -4.4764 l /P <>BDC BT )]TJ .025 Tw ET 12 0 0 12 294.0978 341.2983 Tm /P <>BDC /P <>BDC plan distribution and may create or increase a shortage. BT ( )Tj 12 0 0 12 343.3 690.9478 Tm Accessibility, Loans arent taxed unless you default on the loan, Competitive interest rates that are paid back to your Plan account instead of to a conventional lender, Loan repayments are invested in your plan account funding selections, Repayments are made with after-tax dollars, A defaulted loan is considered a distribution, and is subject to tax reporting and income taxes, You may lose the benefits of compounding interest over time, Could affect your ability to qualify for loans outside the Plan and other retirement plans maintained by your employer. EMC EMC /P <>BDC .025 Tw EMC ( )Tj /P <>BDC 0 Tw 0 0 l 0 Tw second time. 12 0 0 12 571.9784 469.6434 Tm ET /P <>BDC ET 4.6956 -8.8558 4.2018 -8.8151 3.5451 -8.7339 c

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