The Deferred Compensation retirement is a 457(b) plan. The 457(b) plan is for governmental and certain non-governmental employees who wish to contribute pre-tax dollars into an additional retirement account.
The Deferred Compensation plan is administered and monitored by an Oversight Committee created by City Resolution 14 to 128.
The Oversight Committee is comprised of seven members - four members nominated by the Mayor and one member nominated from each union (AFSCME, IAFF, and PBA).
To access more information on the Defined Compensation (457b) Plan, please visit Nationwide.