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The City has informed us that the retro money will be included in the pay periods listed below (regular gross, night shift, all OT, chauffeur & CFR-D differential). Retro for Holiday Pay and additional Uniform Allowance has not yet been scheduled. To adjust your Deferred Compensation (457) & 401k contributions, which can be done over the phone or via web, you must first get a PIN # by calling client services at 212-306-7760 if you do not currently have a PIN number. It will take up to 7 days for your PIN number to arrive in the mail.
Website: http://www.nyc.gov/html/olr/html/dcp/fasc_frm.html - January 27, 2006 - Implementation of 3.15% increase effective August 1, 2005 & retro pay (Holiday pay for the period of
July-Dec. 2005 is also included in this check)
-Deferred Comp adjustment needs to take place between
12/24/05 and 1/6/06
- February 10, 2006 - Implementation of 3% increase effective August 1, 2004 & retro pay
-Deferred Comp adjustment needs to take place between
1/7/06 and 1/20/06
- February 24, 2006 - Implementation of 5% increase effective
June 1, 2003 & retro pay
-Deferred Comp adjustment needs to take place between
1/21/06 and 2/3/06
- March 10, 2006 - Implementation of 5% increase effective
June 1, 2002 & retro pay
-Deferred Comp adjustment needs to take place between
2/4/06 and 2/17/06.
You can put up to 50% of each check into Deferred Compensation (457) or a 401k. If you have both a 401k plan and 457, you can place a combined total of 70% of your paycheck into it. Taxes will be reduced as a result of the contributions made, and contributions and the earnings will accumulate tax-deferred. Total contributions for 2006 cannot exceed $15,000 ($20,000 if over 50 years old) for your 457 plan. Total contributions for 2006 cannot exceed $15,000 ($20,000 if over 50 years old) for your 401K plan. The total contributions allowed for both plans is $30,000 ($40,000 if over 50 years old) for 2006. Fraternally.
Stephen J. Cassidy
President
Joseph A. Miccio
Recording Secretary
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