I belong to the New York State Employees' Retirement Plan. Does New York State have a supplementary retirement plan like a 401(k)?
Yes. New York State has a Deferred Compensation Plan that employees can voluntarily contribute to. This plan is commonly referred to as a 457 plan and can be used to supplement the pension that you will receive from the Employees' Retirement System. For more information about the Deferred Compensation Plan and the available investment options, access the Plan's web site or contact the Plan's HELPLINE at 1-800-422-8463.