New York State and Local Employees Retirement System
Employees with the Division of Military and Naval Affairs participate in the New York State and Local Employees Retirement System (ERS). Full-time salaried employees are required to be a member of the ERS and hourly employees have the option of participating with the ERS.
New York State Deferred Compensation Plan
Employees who wish to set aside additional retirement monies may defer wages, up to the maximum allowed under IRS Section 457, from federal, state and local taxation. Deferred monies are invested in a choice of mutual funds, including stable income, money market or equities. Monies are invested based on a percentage of gross earnings determined by the enrollee. In addition, employees over the age of 50 and those within three years of retirement can contribute additional amounts. The Deferred Compensation Plan is 100 percent employee funded.
Roth contributions now available through Deferred Compensation Plan:
For all questions regarding retirement benefits please contact the MNHS main line (518) 786-4830.