NYS Deferred Compensation Plan - Concourse Office - Albany, NY

Deferred Compensation Plan Overview

The New York State Deferred Compensation Plan (NYSDCP) maintains a walk-in assistance center located in the Empire State Plaza Concourse (Room 124). This office serves as a direct resource for New York State and participating local government employees who wish to enroll in or manage their Section 457(b) retirement accounts. The Plan is a voluntary retirement savings program designed to supplement state pensions and Social Security, helping public employees build long-term financial security.

Participant Services

While most transactions can be handled online or via the HELPLINE, the Concourse office allows for in-person consultations with Plan representatives. Services available include:

• Enrollment: Assisting new employees with the paperwork to start contributing to the Plan.
• Account Reviews: Explaining investment options, contribution limits, and asset allocation strategies.
• Retirement Distributions: Guiding participants through the process of withdrawing funds upon retirement or separation from service.
• Paperwork Processing: Accepting beneficiary designation changes, deferral change forms, and loan applications.

Location and Access

The office is conveniently situated in the underground Concourse connecting the Empire State Plaza buildings, making it easily accessible for state workers during their breaks or lunch hours. It is located near the cafeterias and banks. As it is within the government complex, visitors from outside the plaza system should be aware of security protocols in the surrounding buildings, though the Concourse itself is a public thoroughfare.