Purpose
To notify DMNA agencies of a new deduction code for pre-tax contributions to the New York State Deferred Compensation Plan (NYSDCP)
Affected Employees
DMNA employees in agencies 01071, State Active Duty (SAD), and 01072, Emergency (EMG), who receive the following earnings:
| Earn Code | Description |
| ACX | Adjust COLA-DMNA State Exempt |
| AFN | Adjust Fee - State Exempt DMNA |
| CMX | COLA - DMNA State Exempt |
| FNT | Fee - State Exempt DMNA |
Deferrals on all other eligible earnings will be taken using the existing deduction code 416 (Deferred Comp).
Background
At the request of the Division of Military and Naval Affairs, employees in Bargaining Unit DM and Benefit Program DMN will be eligible to participate in the NYSDCP.
Effective Date(s)
Institution Paychecks dated February 14, 2019
Agency Actions
Notify affected employees.
OSC Actions
OSC has created deduction code 411 (Deferred Comp DMNA) in PayServ to be used to process deferrals for DMNA employees who receive earnings that are not exempt from Federal Taxes.
The NYSDCP vendor will submit all transactions for enrollments, cancellations and/or changes in a bi-weekly file. Agency update will not be available for this deduction code.
Outbound vendor files to the NYSDCP vendor will be updated to include deduction code 411 to ensure DMNA participants with the new deduction are reported accurately and timely.
Tax Information
Elective deferrals to the New York State Deferred Compensation plan and designated Roth Contributions under 403 (b) plan will be reported in Box 12 on the employees Form W-2.
Questions
Questions regarding this bulletin can be directed to the Payroll Retirement Mailbox. Questions regarding enrollment in the NYSDCP should be directed to the Deferred Compensation Helpline at 1-800-422-8463.