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ITHP & Deferred Comp

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  • ITHP & Deferred Comp

    Just wanted to ask if anyone knew where I could get the form for the ITHP Waiver as well as additional information on the deferred comp.

    OR if anyone has any information about either. I'm pretty set on the ITHP, but I'm a bit confused on the whole pension thing. Hopefully someone can clarify both of these for me. Thanks

  • #2
    NYC Deferred Comp Plan website
    http://nyc.gov/html/olr/html/deferred/dcphome.shtml

    NYC PPF Website
    http://www.nyc.gov/html/nycppf/html/home/home.shtml

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    • #3
      Thanks a lot, I apperciate it.

      Comment


      • #4
        kxl,

        Just an fyi, since you're a police officer you're not going to be able to initially sign up online successfully because they do not have your address like other city employees. You're going to need to give them a call to have materials mailed to you and sign up that way. Here's the number: (212) 306-7760

        Good luck

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        • #5
          Does anyone know what does the medical exam is for the traffic enforcement agent? Is it the same as for the police officer and school safety? Thanks

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          • #6
            Bro, RUN to the pension section and fill out the form there, it takes less than 5 minutes(including the elevator trip up and down).

            Mailing stuff just gets lost and caught up in who knows whos inbasket.

            As far as deferred comp is concerned you can just go down the block and do that as well.

            Dont waste time mailing stuff.

            Also, I would hurry up with ITHP/50% while its still around. Its the best thing I ever did and I have a rediculous OVERAGE in my pension.
            Captain Square Badge, reporting for duty!.

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            • #7
              Yeah, TNT is right. They may try to do away with ITHP and the extra 50% in upcoming contract nonsense. Hopefully those of us who already do it are grandfathered in.
              Quis custodiet ipsos custodes?

              "You've got to be good in this business, but you've got to get a lot of breaks. If you don't realize that, if you really think you're sitting here because of your genius or anything, I don't know, maybe your background is different, but I got my butt kicked a lot at every level, including this one."

              - Stan Van Gundy

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              • #8
                on the the deferred comp. where have you guys invested in? i have been in the stable income for about 9years playing it safe. other guys in my command switch up to different investment funds. which one do you guys recommend? or since our economy is still $H!tty should i stay in the same stable income fund.
                NYPD Exam was # 8050 THE LAST OF AVENGERS

                former nypd cadet many moons ago

                Been OTJ

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                • #9
                  Originally posted by Back to NYC View Post
                  Yeah, TNT is right. They may try to do away with ITHP and the extra 50% in upcoming contract nonsense. Hopefully those of us who already do it are grandfathered in.
                  I don't see how they could take it away from those that had in under contract when we got on...
                  I wish i had both the ithp and the 50% going from the academy...I had the ITHP for a while (after the academy), but the 50% I started after 2 years... have a $2900 pension overage on the 2nd year lol...
                  a guy with 5 years who's been doing it since day 1 had a $29k overage!

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                  • #10
                    I still kick myself in the arse that I didnt do it from DAY 1!.

                    WHAT a MISTAKE!
                    Captain Square Badge, reporting for duty!.

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                    • #11
                      I know its a retention tool, so what happens if you end up leaving before you're eligible to retire? What happens to all that money and the overages?

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                      • #12
                        I have most of mine in stable because I'm close to retiring. A good rule of thumb I read a long time ago is subtract your age from 100, and that number is the percent that should be in stocks. I'm in State deferred comp and i like Davis Venture Fund A and Fidelity OTC.
                        Originally posted by hondo85 View Post
                        on the the deferred comp. where have you guys invested in? i have been in the stable income for about 9years playing it safe. other guys in my command switch up to different investment funds. which one do you guys recommend? or since our economy is still $H!tty should i stay in the same stable income fund.
                        RETIRED 9-16-10

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                        • #13
                          Originally posted by options open View Post
                          I know its a retention tool, so what happens if you end up leaving before you're eligible to retire? What happens to all that money and the overages?
                          Good question, if the overage doesn't transfer to say a new department can you take out a pension loan for the overage amount before you resign?

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                          • #14
                            Options open wrote:

                            "I know its a retention tool, so what happens if you end up leaving before you're eligible to retire? What happens to all that money and the overages?"

                            If you leave before you are eligible to retire, and you are not rolling it to another agency or pension system, you only get back what you put in, you do not get the city contribution portion. If you put extra in, such as a ITHP waiver, you get that back also.

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