All employees of Roswell Park Cancer Institute are eligible to become members of the New York State & Local Employees’ Retirement System (NYSERS). Enrollment is required for permanent or regular, full-time employees; and optional for all other employees. The NYSERS is a defined benefit plan that uses a formula based on an employee’s years of service, age at retirement, and final average salary to calculate the retirement benefit.
The New York State Deferred Compensation Plan (NYSDCP) is a State-sponsored voluntary retirement savings plan. All employees have the option to participate in the NYSDCP 457(b). If you have an existing 401(k) or 403(b) plan, you have the option to rollover your funds into this plan. Employees may elect to contribute a flat dollar amount or a percentage of their gross wages to be deducted pre-tax from their bi-weekly paychecks. Employees may cancel or change their deferral amounts at any time.