New York State Deferred Compensation Plan

What New York State Deferred Compensation Plan does

The New York State Deferred Compensation Plan (NYSDCP) is a government-sponsored voluntary 457(b) retirement savings plan established for New York State public employees and employees of participating local government employers. Founded in 1995 and headquartered in Albany, NY, the Plan provides tax-deferred retirement savings through automatic payroll deduction, offering participants a range of investment options including target date funds, index funds, and actively managed funds, plus a Roth after-tax contribution option. The Plan is governed by the State of New York Deferred Compensation Board and administered by Nationwide Retirement Solutions, with registered Account Executives providing one-on-one planning support.

The product portfolio centers on the 457(b) Plan account itself, delivered via a web-based platform (nysdcp.com), native iOS and Android mobile applications, a 24/7 Voice Response System, and a suite of planning tools — My Income & Retirement Planner, Future Value Calculator, Paycheck Impact Calculator, Peer Comparison Tool, Roth Analyzer, Simple Income & Retirement Planner, and the Auto Increase feature launched in 2025. Educational resources include on-demand and live webinars, a quarterly Future Focus newsletter, and an annual National Financial Literacy Month campaign. Online access is gated by identity verification using Social Security number and date of birth, consistent with consumer-financial-industry security norms.

Revenue is generated entirely through participant-paid fees rather than state appropriations. The Plan charges a $20 annual administrative fee per participant account (billed as two $10 semi-annual installments in April and October), an asset-based fee of 3 basis points (0.03%) on account balances between $20,000 and $200,000 (maximum $60 per year), and underlying investment management expense ratios reflected in fund performance. Distribution is anchored in employer-sponsored payroll deduction enrollment, with eligibility strictly limited to New York State employees and employees of participating employers; the Plan does not operate outside New York State.

Name

New York State Deferred Compensation Plan

Legal name

New York State Deferred Compensation Plan

Website

https://nysdcp.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

The New York State Deferred Compensation Plan is a government-sponsored 457(b) voluntary retirement savings plan serving New York State public employees and participating local-government employers via payroll deduction, multiple investment options, planning tools, and personalized advisor support.

Ownership category

akta.pro rank

Product category

Government-Sponsored Retirement Savings Plan

NAICS

Pension Funds (525110), Insurance and Employee Benefit Funds (5251), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

akta.pro primary industry

Liability-Driven Investment (LDI) & Pension Risk Transfer (PRT) Asset Management (FSAAAGAI)

Keywords

• 457(b) deferred compensation
• Public sector retirement plan
• Government retirement savings
• Voluntary retirement plan
• Tax-advantaged retirement savings

Headquarters

HQ city

Albany

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Participant Administrative Fees: The plan is funded almost entirely by participant-paid fees and does not receive any funding from New York State. Revenue is generated through annual administrative fees charged directly to participant accounts.
2. Asset-Based Fees: An asset-based fee calculated as a percentage of participant account balances over $20,000, capped at $200,000 of assets. This fee is deducted semi-annually in April and October.
3. Investment Management Fees: Fees charged by investment managers against the performance of investment products, expressed as expense ratios. These fees are not direct deductions but are reflected in fund performance.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

The New York State Deferred Compensation Plan is a voluntary 457(b) retirement savings plan that allows New York State employees and employees of participating local employers to make tax-deferred payroll-deduction contributions toward retirement. It offers multiple investment fund options, Roth contribution availability, plan account loans, Required Minimum Distribution management, and is supported by financial planning tools, educational webinars, and one-on-one guidance from Retirement Specialists (Registered Representatives of Nationwide Investment Services Corporation). The Plan is governed by the State of New York Deferred Compensation Board and administered by Nationwide Retirement Solutions, with funding derived almost entirely from participant-paid fees.

Product overview

The New York State Deferred Compensation Plan is a voluntary 457(b) retirement savings plan for New York State and local public employees. The core offering is the deferred compensation plan itself, which provides tax-advantaged retirement savings through payroll deductions. The product portfolio includes planning tools (My Income & Retirement Planner®, My Investment PlannerSM), calculators (Future Value Calculator, Paycheck Impact Calculator, Simple Income & Retirement Planner), analysis tools (Peer Comparison Tool, Roth Analyzer), educational resources (Webinars, Future Focus Newsletter), and account management features (Auto Increase, Voice Response System, Mobile Application). The plan is administered by Nationwide Retirement Solutions and offers investment options including target date funds, with support from Retirement Specialists/Account Executives.

Differentiator

Problem solved

Functional benefit

Products and services

• New York State Deferred Compensation Plan (457(b)) A voluntary 457(b) retirement savings plan available to New York State employees and employees of participating local employers, providing tax-deferred and Roth after-tax payroll-deduction contributions, multiple investment fund options, catch-up contributions for participants 50+, plan account loans, and access to Retirement Specialists for individualized retirement planning guidance.
• Auto Increase An automatic contribution increase feature that helps participants grow their retirement savings consistently by automatically raising their payroll deduction contributions by a set amount or percentage on an annual date chosen by the participant.

Quantifiable outcome

• Up to $24,500 contribution limit in 2026 (plus catch-up contributions)
• +2 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Nationwide Retirement Solutions / Nationwide Investment Services CorporationcoreImplementation/ SI/ Consulting PartnerNationwide Retirement Solutions serves as the Administrative Service Agency for the Plan. Account Executives are Registered Representatives of Nationwide Investment Services Corporation, member FINRA, Columbus, Ohio. Nationwide provides account management, customer service, investment platform, and educational resources to Plan participants.
• State of New York Deferred Compensation BoardcoreStrategic or Co-development PartnerThe Deferred Compensation Board is the governing body responsible for overseeing the Plan's operations, setting policies, approving investment options, and ensuring compliance with federal and state regulations. The Board holds public meetings and maintains fiduciary oversight.
• FINRA (Financial Industry Regulatory Authority)minorOthersFINRA is the regulatory body that oversees Nationwide Investment Services Corporation as a member broker-dealer. Account Executives are registered representatives of FINRA member firm Nationwide Investment Services Corporation.

Scale indicators2 records

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• Fidelity Workplace Investing: Fidelity's workplace retirement business, which includes recordkeeping for public sector 457(b) and 401(k) plans. Comparable as a mega-recordkeeper competing for state and local government plan mandates.
• Nationwide Retirement Solutions: The third-party administrator that runs NYSDCP and similar plans across multiple states. Comparable as the operational platform and product suite behind NYSDCP, serving as a BROAD_INCUMBENT across many state 457(b) plans.
• Empower Retirement: One of the largest U.S. retirement plan recordkeepers, serving numerous public sector and corporate plans. Competes for the same third-party administration and recordkeeping mandate that Nationwide holds for NYSDCP.
• TIAA: A leading provider of retirement products to public sector and academic institutions. Comparable in serving public employees with tax-advantaged retirement savings vehicles, including 457(b) plans.
• Voya Financial: A large financial services firm with a defined contribution recordkeeping business that includes public sector plans. Comparable as a competitor in the public sector retirement plan administration market.

Direct peers

• MissionSquare Retirement (formerly ICMA-RC): A leading recordkeeper and administrator specializing in public sector 457(b) and 401(a) plans. Directly comparable in serving state and local government employees with deferred compensation products.
• Illinois Deferred Compensation Plan: Illinois' state-sponsored 457(b) plan for public employees. Highly comparable in structure, product set, and target audience to NYSDCP.
• Ohio Deferred Compensation Program: Ohio's statewide 457(b) plan for public employees, also administered by Nationwide Retirement Solutions. Directly comparable structure, administration, and target audience as NYSDCP.
• Indiana Public Retirement System: Indiana's public sector retirement system offering 457(b) deferred compensation alongside pension funds. Comparable participant base of state and local public employees with similar voluntary savings product.
• California State Deferred Compensation Plan (CalDCP): Large state-sponsored 457(b) plan for California public employees. Highly comparable to NYSDCP as a public-sector deferred compensation plan serving state and local government employees, though administered by a different provider.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/nrsforu
• Facebookfacebook.com/NationwideFinancial
• LinkedInlinkedin.com/company/kleinandcompany

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New York State Deferred Compensation Plan