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New York State Voluntary Defined Contribution Plan

On March 16, 2012, Governor Andrew Cuomo signed into law a new Voluntary Defined Contribution Plan. Beginning July 1, 2013, this option will be made available to all unrepresented employees of NYS public employers hired on or after that date, and who earn $75,000 or more on an annual basis.

If you fit the eligibility criteria, you have the option to enroll in the existing pension system or to participate in this new Voluntary Defined Contribution (VDC) plan. Advantages of the new VDC option include:

Learn about VDC (for Employees) Learn about VDC (for Agencies/Employers)

Why does the plan say “SUNY” – I work elsewhere?

Having offered a defined-contribution retirement option since the 1960s, the SUNY Optional Retirement Plan (ORP) was selected to manage the new VDC plan for other New York public employees. Large majorities of professional employees in both the SUNY system and the CUNY system have chosen the SUNY ORP over the standard pension mandated for other public employees.