New York City Deferred Compensation Plan Year-End Reminders
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Deferred Comp/NYCE IRA U P D A T E The Newsletter for the 457 and 401(k) Plans We’ve Moved! and the NYCE IRA for the City of New York New location for Deferred Compensation Plan‘s Administrative Office The Deferred Compensation Plan’s Administrative Office has moved to a new location: 22 Cortlandt Street, 28th Floor New York, New York 10007 If you wish to visit the Deferred Compensation Plan to speak to a client service representative, drop off a form, or attend a seminar, please visit the Client Service Center at: 65 Broadway, 21st Floor New York, New York 10006 All Plan contact information will remain the same, i.e., e-mail addresses, web address, phone numbers, etc. 4th Quarter Fee Holiday The $20 quarterly administrative fee will be waived for the 4th quarter. Quarter Ended December 31, 2013 In This Issue: Our Administrative Office has Moved ------------ 1 Fee Holiday in 4th Quarter ----------------------------1 Changes to look for: • On Your Statement ---------------------------------------- 2, 3 • On the Website ------------------------------------------------ 4 • Retirement Income Illustrations --------------------------- 4 Year-End Reminders ---------------------------------- 5, 6 Fund Manager Update -----------------------------------6 Please Note: The material contained in this newsletter regarding financial planning is merely for informational purposes. The Deferred Compensation Plan/NYCE IRA is not an investment advisor, and is not holding itself out as such. Any references to rate of return and risk are based on past experience and, as such, there is no guarantee of the rate of return you may actually receive. Therefore, you may wish to consult a professional investment advisor before reaching any investment decisions. ~ 1 ~ How to Read Your Quarterly Account Statement Your account statement has a new look this quarter. .EW9ORK#ITY$EFERRED#OMPENSATION 0LAN.9#%)2! You’ll find more personalized information. We hope that "OWLING'REEN3TATION 0/"OX the changes give you a better understanding of your .EW9ORK .9 account activity. .%79/2+#)49$%&%22%$#/-0%.3!4)/.0,!..9#%)2! 1. Your Information This section provides your personal information such as 0ARTICIPANT.AME3TATEMENT0ERIOD 3TREET 0ARTICIPANT)$ your name, address, participant ID and plan number, as !PT*OB,OCATIONO 1 !.97(%2%53! well as the time period the statement covers. 2. What is my account balance? 7HATISMYACCOUNTBALANCE 7HERECAN)GOFORHELPGOFORHELP This is the total value of your Plan at the end of the 7EBSITESITESI NYCGOVDEFERREDCOMPNYCGOVDEFERREDCOMP 2 0HONE0HONEHONE statement period. -AIL-AIL LE Bowlowling Green Station, P.O. Box 93 !SOF..EW9ORK .9EW9PLE 3 3. Where can I go for help? 7HATMIGHTMYMONTHLYINCOMEBEATRETIREMENTMONTHLYINCOMEBEATRETI This section provides contact information for your Plan, 9OURCURRENTACCOUNTCONVERTEDTOINCOMEATRETIREMENTMAYBEOURCURRENTACCOUNTCONVERTEDOURCURRENTACCOUNTCO MONTHAFTERTAX including website address, phone number, and mailing 4HISFIGURE REFERREDTOONTHISSTATEMENTAS)NCOMEAT2ETIRETOONTHISSTATEONTHISST AMPLEAMMENT ISAHYPOTHETICALILLUSTRATIONTHATMAYHELPYOUEVALUATE address. YOURRETIREMENTREADINESS)TISNOTAGUARANTEEOFFUTUREINCOESS)TIS MEORAPROJECTIONOFTHEFUTUREVALUEOFYOURACCOUNT)TDOESNOT REPRESENTTHEPERFORMANCEOFANYPARTICULARINVESTMENTOPTIONS9OUR)NCOMEAT2ETIREMENTISCALCULATEDBASEDONTHECURRENT 4 BALANCEOFTHISACCOUNTUSINGLIMITEDFACTORSANDASSUMPTIONSSASAM&ORINFORMATIONONTHESEFACTORSANDASSUMPTIONS PLEASESEE!N )MPORTANT-ESSAGEABOUTYOUR)NCOMEAT2ETIREMENTLATERINTHISSTATEMENT 4. What might my monthly income be at retirement? 4OSEEAMOREEXTENSIVE PERSONALIZEDRETIREMENTINCOMEPROJECTIONWHICHMAYINCLUDEADDITIONALASSETSANDINCOMESOURCESOUTSIDEOF Your Income at Retirement is a hypothetical illustra- YOUREMPLOYERRETIREMENTPLAN ACCESSYOUR2ETIREMENT)NCOME#ONTROL0ANELONLINEATNYCGOVDEFERREDCOMP tion that may help you evaluate if you are on target for your desired level of retirement income. Using (OWHASMYACCOUNTCHANGED ) your “Income at Retirement” as a guide, you can 0LAN)2! 0LAN K 0LAN 4OTAL implement a savings and investment strategy now 5 "ALANCEASOF-ARCH %MPLOYEE#ONTRIBUTIONS to achieve your desired retirement goals. #HANGEIN6ALUE %XPENSES "ALANCEASOF*UNE 5. How was my account changed? Participant Name This provides a summary of the opening and closing 123456 values of your account along with the changes in value for the statement period. .EW9ORK#ITY$EFERRED#OMPENSATION0LAN 0LAN 6. How will my future contributions be invested? (OWWILLMYFUTURECONTRIBUTIONSBEINVESTED This section breaks down how your contributions will be invested based on the most recent investment direction provided. 80% Equityityty Index Fund 20%% Stable Income FundFun E 6 7. How is my account invested? This section breaks down how your account is currently invested in your account as of the end of the statement period. (OWISMYACCOUNTINVESTEDNTINVESTEDAM 7 84.33% Stable Income Fund SAMPLESAM15.67% Equity Index Fund %NDING "EGINNING #HANGE 7ITHDRAWALS %NDING 5NITS "ALANCE $EPOSITS IN 6ALUE 4RANSFERS %XPENSES "ALANCE 3HARES Stable Income Fund 404,143.74 127.03 2,373.36 -16.84 406,627.29 25,457.584 Equity Index Fund 71,319.63 508.01 3,737.96 -3.16 75,562.44 396.787 4OTALS ~ 2 ~ &!3#/2% ,,# 2ECTOR3T RD&LOOR .EW9ORK .9 8. What is my Loan Information This shows any loans on file, along with the 2CTVKEKRCPV0COG principal balance and how much interest and principal were paid. 7HATISMYLOANINFORMATION 8 "EGINNING %NDING 9. Who are my Beneficiaries? 0RINCIPAL .EW,OANS )NTEREST 0RINCIPAL 4OTAL $ISTRIBUTED 0RINCIPAL ,OAN "ALANCE )SSUED 0AID 0AID 0AYMENTS ,OANS "ALANCE Please review you current beneficiaries to 4OTALS ensure that this information is still accurate and reflects your current wishes. Have they 7HOAREMYBENEFICIARIES moved? Have they changed their names? 4YPE .AME 2ELATIONSHIP 0ERCENT !DDRESS!DDRRESSESS 9 2TKOCT[$GPGHKEKCT[0COG %JKNF#0;9*'4 #0;9*'4';9* ' Beneficiaries can be updated at any time 75#75# %QPVKPIGPV$GPGHKEKCT[0COG %JKNF#0;9*'4 #0;9*'4'9*'4' online or on a Change Form. Please note if 75#7755# $GPGHKECT[0COG %JKNF%JKNFJKNF#0;9*'4 ##00 E' you use a Change Form, the form must be LE75#7 notarized. 7HATISMYPAYCHECKCONTRIBUTIONINFORMATIONONTRIBUTIONINFORMATION 10 -AXIMUM!LLOWABLE 9OUR $EFERRAL$E !MOUNT #ONTRIBUTION ,IMIT 10. What is my paycheck contribution $GHQTG6CZ MPLEMPM information? (OWHASMYACCOUNTCHANGEDOVERTIMEUNTCHANAMAMP This shows your deferral amount and maximum 4OTAL 11 ;GCT6Q&CVG%QPVTKDWVKQPUSSAMSA allowable contribution limit. ;GCT'PF$CNCPEG 7HATACTIVITYTOOKPLACETHISPERIOD 11. How has my account changed over time? %FFECTIVE $OLLAR 5NITS 5NIT3HARE $ATE !MOUNT )NVESTMENT /PTION 3HARES 0RICE This shows your year-to-date contributions and $EPOSITS#ONTRIBUTIONS 12 2C[TQNN%QPVTKDWVKQP#RT 'SWKV[+PFGZ(WPF previous year end balance. 2C[TQNN%QPVTKDWVKQP#RT /KF%CR'SWKV[(WPF 2C[TQNN%QPVTKDWVKQP#RT +PVGTPCVKQPCN'SWKV[(WPF 2C[TQNN%QPVTKDWVKQP#RT 5OCNN%CR'SWKV[(WPF .QCP2C[OGPV#RT /KF%CR'SWKV[(WPF 12. What activity took place this period? .QCP2C[OGPV#RT 5OCNN%CR'SWKV[(WPF .QCP2C[OGPV#RT +PVGTPCVKQPCN'SWKV[(WPF Review the activity that took place in your account .QCP2C[OGPV#RT 'SWKV[+PFGZ(WPF 2C[TQNN%QPVTKDWVKQP#RT 'SWKV[+PFGZ(WPF during the statement period by deposits and contributions, expenses, and withdrawals. WWWYOURWEBSITECOM How have my unit/share values changed? Investment Beginning Beginning Change in Ending Ending Code Investment Option Units/Shares Price Units/Shares Price Units/Shares 13. How have my Unit/Share Values Changed? /KF%CR'SWKV[(WPF +PVGTPCVKQPCN'SWKV[(WPF 13 5OCNN%CR'SWKV[(WPF This shows how much your unit/share values changed. 1RGPC0;%'+4#VQFC[)QVQNYC.gov/nyceira VQNGCTPOQTGCPFGUVCDNKUJ[QWT0;%'+4#CEEQWPV 14. Important Announcements 6JG[KGNFHQTVJG5VCDNG+PEQOG(WPFHTQO#RTKNVQ,WPGYCU6JG[KGNFHQTVJG5VCDNG+PEQOG(WPFHQTVJG RGTKQF,WN[VQ5GRVGODGTYKNNDG6JG[KGNFKUCPCPPWCNK\GFTCVGYJKEJKUTGECNEWNCVGFQPCSWCTVGTN[DCUKU This shows important plan announcements. 2NGCUGTGXKGY[QWTUVCVGOGPVECTGHWNN[VQDGUWTGCNNKPHQTOCVKQPKUEQTTGEV+HYGFQPQVTGEGKXGYTKVVGPPQVKEGHTQO[QWYKVJKPUKZYGGMU QHVJGFCVG[QWTUVCVGOGPVYCUOCKNGFVJGUVCVGOGPVYKNNDGFGGOGFCUEQORNGVGCPFCEEWTCVG2NGCUGFKTGEVCNNKPSWKTKGUEQTT2NGCNGC GURQPFGPEG VQVJGHQNNQYKPI 15. What is the Rate of Return on My Retirement New York City Deferred Compensationnsation Planan 14 Bowling Green Station, P.O..O. BoxB 93 Accounts(s)? New York , NYY 10274-0093-0093 (212)2)) 306-7760 This shows your personal investment performance for #EEGUUVQVJGYGDUKVGOC[DGNKOKVGFQTWPCXCKNCDNGFWTKPIRGTKGTTKKQFUQHRGCMFGOCPFOCTMGVXQNCVKNKV[U[UVGOUWRITCFGUOCKPVGQFUQHRGCMFGOCPFOCTMGVXQNCVKNKV[UQFUQHRGCMFGOCPFOCTMGVXQNCVKNKV[ PCPEGQTQVJGTTGCUQPU your account over the last quarter and year-to-date. It is calculated based on a formula1 that estimates the What is the rate of return on my retirement account(s)?account(s equivalent quarterly rate of return based on your PeriodPerioP d PLEYear To Date - - opening balance, transaction activity, and closing bal- ance. 2GTUQPCNK\GFRGTHQTOCPEGKPHQTOCVKQPKURTQXKFGFVQCEEQWPVJQNRGTHQTOCPEGKPHQTOCVKQPKURTQXKTHQTOCPEGKPHQTOCVKQPKURTQXKF MPLMPFGTUCUCIGPGTCNCRRTQZKOCVKQPQHVJGQXGTCNNTGEGPVRGTHQTOCPEGQH[QWT CEEQWPV+VKUECNEWNCVGFDCUGFQPCHQTOWNCYJKEJGUVKOCVGUVJNEWNCVGFDCUGFQPCHQTOWNEWNCVGFDCUGFQPCHQ GGSWKXCNGPVTCVGQHTGVWTPFWTKPIVJGUVCVGFRGTKQFDCUGFQPVJGQRGPKPI 15 DCNCPEGVTCPUCEVKQPCEVKXKV[KPENWFKPICP[CRRNKECDNGHGGUCQPCEVKXKV[KPENWFKPI[KPENWFKP PFENQUKPIDCNCPEG2GTHQTOCPEGECNEWNCVKQPUYKNNPQVKPENWFGNQCPDCNCPEG 2CUVRGTHQTOCPEGKUPQVCIWCTCPVGGQTRTGFKEVKQPQHHWVWTGKPXUPQVCIWCTCPQVCIWCT