NYC Deferred Compensation Plan

May 1, 2024

In March of 2019, the NYC Deferred Compensation Plan (NYC DCP) transferred their recordkeeping services to Voya Financial. With this change, came very specific rules and limitations regarding the award NYC DCP allowed in a DRO. Our company made a case to NYC DCP that their new rules were quite problematic for many divorcing parties. To their credit, they listened and in May 2024, NYC DCP changed their rules again. Limitations still exist, however, the new rules are much more fair and reasonable. In order to avoid potentially making costly mistakes when drafting the parties' agreement, you may wish to consider purchasing sample stipulation language from our website for the New York City Deferred Compensation Plan.