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Oversees the New York City Sheriff's Office, which acts as DOF's law enforcement division and the City's chief civil law enforcement agency. Through the Mayor's Office of Pensions and Investments, the Department of Finance also advises the Administration on the City's $160 billion pension system and $15 billion deferred compensation plan.
Deferred compensation is an arrangement in which a portion of an employee's wage is paid out at a later date after which it was earned. Examples of deferred compensation include pensions, retirement plans, and employee stock options.
Both qualified and non-qualified deferred compensation plans can have vesting periods. Qualified plans are required to have vesting periods. Non-qualified plans are not, but occasionally do.
The rankings below are the 30 largest public pension plans in the U.S., ... New York City Retirement: $189,794 $189,794 N/A N/A 5 Florida SBA: $167,900 $157,562
Transferring some of your retirement savings from a tax-deferred account like a 401(k) to a Roth IRA can help you reduce or possibly avoid required minimum distributions (RMDs) and income taxes ...
You can roll over a 401(k) employer-sponsored retirement plan to an IRA or otherwise transfer an IRA, and you typically have 60 days to get it from one account to another.