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Office of the New York State Comptroller’s Seal

NYS Comptroller

Thomas P. DiNapoli

Deferred Compensation Loans

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If you have an existing loan with a deferred compensation or tax sheltered annuity plan through your current employer, the Internal Revenue Code requires us to consider these loan balances when calculating the taxability of a loan from our System. Therefore, you must use our new loan application and complete Section 2. If you do not provide us with this information, your loan application will be rejected.

The Retirement System does not offer either of these plans. To find out if you have either of these plans, contact your employer directly.

If you need help in completing the loan application, or have any questions regarding the taxability of loans granted from our System, please contact our Call Center at 1-866-805-0990, or 518-474-7736 within the Albany, New York area.