A flexible alternative to defined benefit plans.
Introducing the New York State Voluntary Defined Contribution Program
NYS and NYC agencies are required to offer the Voluntary Defined Contribution (VDC) Program to eligible employees. Find out how to implement the VDC Program at your agency.

The Benefits of the Voluntary Defined Contribution Program
It's flexible.
The VDC Program allows employees to customize their retirement plan. They can name their beneficiaries and decide what to do with their retirement savings.
Portability.
Once vested, participant balances can move with them if they separate from service with a public employer in New York City. You can also withdraw money when you leave New York City service.
It vests rapidly.
Employees are fully vested after just one year and one day. Defined Benefit (“DB”) plans generally don’t vest for 5 years.
It lets employees take charge.
Employees can choose their investments from any or all of the authorized investment providers Corebridge Financial, Fidelity, TIAA and Voya. With Defined Benefit (“DB”) plans, the plan sponsor chooses the investments and providers.
The VDC is an alternative to New York City’s DB plans. It was made available to New York City employees in 2020.
An employee has 30 days from the date of hire to enroll.
TIAA, the Third Party Administrator, supports agencies by offering help and guidance to educate employees.
Plan Change Videos
More Information
*If you invest in the SUNY Optional Retirement Program/New York State Voluntary Defined Contribution Program through Fidelity you will be investing in a variable group annuity contract issued by Massachusetts Mutual Life Insurance Company ("MassMutual"), 1295 State Street, Springfield, MA 01111-0001 and administered by Fidelity Investments. If benefit payments are annuitized under the group annuity contract issued by MassMutual, those benefit guarantees are subject to the claims paying ability of MassMutual.
Employee Eligibility
Full-time and part-time employees of the City of New York and certain Public Employers who have an
Employees are not eligible if a union represents them. You may not be eligible if you previously participated in a New York City public DB plan.
An employee has 30 days from the date of hire to elect the VDC Program.

How to Educate Your Employees
Once you master the program and make it available, it’s time to help your employees enroll.
1. Share the VDC program materials
This website has in-depth information about the VDC program and makes it easy for your employees to enroll online.
This video provides a brief, interactive comparison between the Defined Benefit and Defined Contributions options available to your new employees.
2. Review these resources
Enrollment Guide For Employees
Agency change instructions
3. Offer personal assistance
Employees can pick up the phone and call
4. Participant Education Station
Your hub for employee materials and resources.
Corebridge Financial
Fidelity
Fidelity: Mobile App
Morningstar
TIAA
Voya
Contact Information
NYS VDC Program Center
Administrators (through TIAA):
Hours: Monday to Friday, 8 a.m. to 6 p.m. (ET)
Employees (through Retirement@Work):
Hours: Monday to Friday, 8 a.m. to 10 p.m. (ET)
VDC Program Administrators
Michael Consorte
Denise Gaffor
VDC Program Administrators for City of New York
Web address:
Contact us:
This is based on an employee’s full-year salary or part-time hourly rate. An employee who makes $37 per hour has an annual salary rate of pay of $76,960.