News

• SUNY 403(b) Voluntary Savings Program
• NYS Deferred Compensation 457  Plan
• SUNY Financial Education & Planning Tools
• ASW 2023 Toolkit for access to the ASW daily resources available:
  • Monday, February 27 - Saving Automatically
  • Tuesday, February 28 -Saving for the Unexpected
  • Wednesday, March 1 - Saving for Major Milestones
  • Thursday, March 2 - Paying Down Debt is Saving
  • Friday, March 3 - Saving at Any Age

Contact an Employee Benefits Representative in HR if you have any questions regarding how to enroll in a voluntary savings plan.

1. Is at least 50 years of age and
2. Is eligible to retire in five (5) years

• 10:00 am - 10:30 am          Overview:  Self-Help Guide
• 10:30 am - 11:30 am          NYS Deferred Comp Program
• 11:30 am - 11:45 am          Break
• 11:45 am - 1:30 pm            NYS & Local Retirement System (ERS/PAFRS)

• 10:00 am - 10:15 am         Overview of NYS Pre-Retirement Website
• 10:15 am - 11:15 am         Social Security
• 11:!5 am - 11:30 am          Break
• 11:30 am - 1:00 pm           NYSHIP Health Insurance

REGISTRATION & DEADLINE - Please email Luanne Stento in HR/Employee Benefits at lstento@binghamton.edu or call 777-6950 to place your name on the list.  I will be notified by SUNY System Administration of those approved to participate and inform you of approval.  Deadline to register for any full two-day session is two (2) weeks prior to the session start date.

OPDV Gender-Based Violence and the Workplace Policy Compliance

The NYS Deferred Compensation Plan, in partnership with the NYS pension system, is hosting a Pension Webinar in January.  In addition, Mark Wallace from NYSDC will host 457b Plan webinars.

NYSDC ENROLLMENT WEBINAR - Tuesday, Jan 24 @ 12 Noon to explain the benefits of participating in the NYS Deferred Compensation Plan to help you save for retirement. 

Join on your computer, mobile app or room device.

Click here to join the meeting

Meeting ID: 277 146 748 946
Passcode: HR3hTM

Or call in (audio only)
+1 917-983-6123,,564339168#  

Phone Conference ID: 564 339 168#

NYSDCP:  NYS PENSION WEBINAR - Thursday, Jan 26 @ 12 Noon to explain the basics of the NYS Pension and how it and NYSDC can provide retirement income. 

Registration is required by clicking here

COUNTDOWN TO RETIREMENT - Friday, Jan 27 @ 12 Noon to review important considerations for those approaching retirement including longevity, income sources, asset consolidation and withdrawal guidelines.

Join on your computer, mobile app or room device

Click here to join the meeting

Meeting ID: 276 659 583 542
Passcode: MdSYJz

Or call in (audio only)

+1 917-983-6123,,377675268# 

Phone Conference ID: 377 675 268# 

Weather-Related Absences Memorandum

Holiday Period 2022-2023 Reissued Memorandum

2022 UUP DSI Memo for Staff

2022 UUP DSI Memo for Faculty

TIAA will host a free retirement planning webinar on Tuesday, August 2 at noon.  Go online for more information and to submit the required workshop registration.

Please click here for a memo on summer hours

Please click here for a memo from VOYA Financial Advisors announcing the Binghamton campus has a new consultation representative.

Please click here for more information on filing taxes on your 2021 employee contributions into the retirement system

Please click here for more information regarding Required Annual Compliance Training

Please click here for more information regarding the 2021-2022 Holiday Period

Dan Kain, our campus representative for the NYS Deferred Compensation 457 Plan, will no longer be working for Nationwide/NYSDC effective Thursday, Dec. 2, 2021.  NYSDC will be hiring a replacement in the near future.

For questions related to your Deferred Compensation account or assistance with enrollment, feel free to call the NYSDC Helpline at 800-422-8463, weekdays 8 am - 11 pm.  New enrollment or changes to your existing account may also be submitted via their website.

Please click here for the 2021 Weather Related Absences memo

A new federal law effective January 1, 2022, requires the inclusion of annual out-of-pocket costs on employee health insurance benefit cards used for medical and prescription coverage.  NYSHIP Empire Plan and HMO enrollees can use the benefit card effective immediately.  There is no action required to activate the new card and once received, and you should properly destroy your current card.

Empire Plan enrollees will receive the card via mail from the NYS Department of Civil Service Employee Benefits Division (EBD) in the coming weeks.  HMO enrollee cards will arrive by mail from your HMO provider.  Your ID number will not change regardless of the NYSHIP plan you are enrolled in. 

Empire enrollees may call the Department of Civil Service EBD at 800-833-4344 and HMO participants may call their HMO directly if you do not receive your updated card within the next several weeks.

The 2022 open enrollment period for the NYS Flexible Spending Account Plan is Tuesday, Nov. 2 through 10 pm ET Monday, Nov. 29, 2021.  The plan is administered by the Governor's Office of Employee Relations (GOER), and the deadline is strictly enforced. 

If you are a 2021 FSA participant and wish to continue participation for 2022, you MUST enroll by the Nov. 29 deadline.  Your 2021 enrollment does NOT carry over.

Eligible employees may enroll or obtain additional plan information online at goer.ny.gov/FSA or call Health Equity at 800-358-7202.  Employees may also email FSA customer service at fsa@goer.ny.gov.

2021 UUP Discretionary Increases for Staff Memo

2021 UUP Discretionary Increases for Facutly Memo

Dan Kain from NYS Deferred Compensation will be hosting Retirement and Enrollment webinars in September. Please use the links below to register.

Enrollment Webinars:  You will learn about Deferred Compensation and how it can help you save for retirement as well as how to enroll

Tuesday, September 21, 2021 10:00 am
https://nationwidepcsales.webex.com/nationwidepcsales/onstage/g.php?MTID=e828fad4a9b610c6efdc4e41c51cdac47

Tuesday, September 21, 2021 12:00 pm
https://nationwidepcsales.webex.com/nationwidepcsales/onstage/g.php?MTID=ed5863ad466a982eb6f447a783f861c3

Wednesday, September 29, 2021 12:00 pm
https://nationwidepcsales.webex.com/nationwidepcsales/onstage/g.php?MTID=ecc274b89b484a202720c7f3d66f9f0c3

Pre-Retirement Webinars: Review of how to calculate your NYS Pension, how and when to withdraw Deferred Compensation Funds, the taxes involved with doing so and much more

Monday, September 20, 2021 12:00 pm
https://nationwidepcsales.webex.com/nationwidepcsales/onstage/g.php?MTID=e6b3b855c914010c37f31ad966d88c606

Thursday, September 30, 2021 10:00 am
https://nationwidepcsales.webex.com/nationwidepcsales/onstage/g.php?MTID=e23a30ca5de00fbae414bfb478dd5bbd7

On August 25 at 12 pm, Fidelity invites employees to attend a free virtual workshop discussing how to Maximize Social Security in Your Retirement Strategy.  Learn about strategies for claiming your social security benefit and how it fits with other income sources to create your retirement paycheck.

You may also schedule a consultation with Fidelity campus representative Ken Woods.

Click here to reserve a spot in the workshop or to schedule a retirement planning consultation with Ken.

Brendan Dunuwila from VOYA will be on campus monthly this fall to meet in person with employees on the following dates:

• Wednesday, September 15
• Wednesday, October 13
• Wednesday, November 17
• Wednesday, December 15

This is a convenient opportunity to check on the status of your existing VOYA account, or begin a new Voluntary Savings 403(b) Plan.  Brendan can answer your questions regarding planning, budgeting and meeting your savings goals, managing your investments as well as calculating contributions to meet your retirement needs.

To schedule an in-person or zoom meeting with Brendan, please use this link or call Brendan's office at 315-446-0100.

Taylor Jaquays from AIG will be on campus monthly this fall in UU room 123 to meet in person with employees on the following dates:

• Tuesday, September 7
• Wednesday, October 6
• Thursday, November 4
• Wednesday, December 8

This is a convenient opportunity to check on the status of your existing AIG account, or begin a new Voluntary Savings 403(b) Plan.  Taylor can answer your questions regarding planning, budgeting and meeting your savings goals, managing your investments as well as calculating contributions to meet your retirement needs

Go online to book your in-person retirement planning appointment using registration code 6009B1N11AA if necessary.

Click here if you prefer to schedule a virtual appointment with Taylor.

You may also call AIG at 800-448-2542 to schedule an appointment.

Faculty, staff and students paid via the NYS payroll system who are making mandatory contributions to a public retirement system, including NYS Employees Retirement System (ERS), NYS Teachers Retirement System (TRS), and NYS Police & Fire Retirement System (PFRS), as well as the SUNY Optional Retirement System (ORP), are required to report these contributions as income in the appropriate line on their NY State personal income tax return.   The dollar amount of these contributions is indicated in Block 14 of the 2020 W-2 form as 414(h).  Failure to include this amount before filing your NY State tax return can result in additional tax payments and interest due.  If your 2020 W-2 form does not include a 414(h) code in block 14, please disregard this reminder.

Final paychecks for the year 2020 for Faculty/Staff and GA/TA payrolls were issued on 12/23/2020, and final paychecks for Federal Work Study and Student Assistant payrolls were issued on 12/31/2020.  These include final gross salary for the year 2020, and if applicable, total health insurance premiums and union dues paid in 2020.  Please retain final paystubs with tax records, or access via the SUNY portal by clicking the icon “view paycheck”.

Dan Kain from NYS Deferred Compensation will be holding a Deferred Compensation Enrollment webinar on Tuesday, January 26 at 12:00 pm, and also a Deferred Compensation Pre-Retirement webinar on Thursday, January 28, at 12:00 pm.

The enrollment webinar will focus on the basics of Deferred Comp for anyone interested in learning more about the plan as well as how to enroll.  The retirement webinar will focus on calculating your NYS pension, how and when to withdraw your NYS Deferred Comp money and the taxes involved with doing so.  

Registration is required using one of the links below:

Deferred Comp Enrollment Webinar
Tuesday, January 26, 2021 - 12:00 pm
https://nationwidepcsales.webex.com/nationwidepcsales/onstage/g.php?MTID=e867ecb3c00329eb3b565cec96eb9d9cf

Deferred Comp Pre Retirement Webinar
Thursday, January 28, 2021  - 12:00 pm
https://nationwidepcsales.webex.com/nationwidepcsales/onstage/g.php?MTID=e8bf860e4551ed2e948eb8d41a38f260b

Guide on Accessing W-2 Forms via New York State Payroll Online (NYSPO)

2020 UUP Discretionary Increases for Staff Memo

2020 UUP Discretionary Increases for Faculty Memo

The 2021 NYSHIP Option Transfer and Pre-Tax Contribution Program (PTCP) Election Period will run from Monday, November 30 through Thursday, December 31, 2020.  Employees who wish to request a change for 2021 during the Option Transfer Period must submit a completed Health Insurance Transaction Form (PS-404) by December 31, 2020 to the Office of Human Resources. 

Employees currently enrolled in the NYSHIP Opt-Out Program are NOT required to reenroll for 2021 if you wish to continue the Opt Out benefit.  However, you must notify Human Resources if you are no longer eligible for the other employer-sponsored health coverage.

2021 NYSHIP Bi-Weekly Health Insurance Rates with link to PS404 Health Insurance Transaction Form:

CSEA, M/C, NYSCOPBA & UUP

PBA-NYS & PEF 

Please click here for the annual memo regarding weather related absences.

The 2021 open enrollment period for the Flex Spending Account (FSA) will run from Monday, Nov. 2 to 10 p.m. Monday, Nov. 30. The FSA program can assist state employees in saving money to pay for necessary health or dependent care expenses because money set aside in your accounts is not subject to federal, state and social security taxes. Once you are enrolled, your contributions will be withheld on a bi-weekly, pre-tax basis from your paychecks during the 2021 plan year.

The FSA is comprised of three important benefits for employees: the Health Care Spending Account (HCSA), the Dependent Care Advantage Account (DCAA) and the Adoption Advantage Account. Eligible employees may choose to enroll in any or all of the benefits. Keep in mind this is a use-it-or-lose it benefit. Any funds you set aside that are not accounted for by Dec. 31 each year will be forfeited.

If you are currently enrolled in the plan and wish to continue the benefit for 2021, you must re-enroll by the strictly-enforced deadline of 10 p.m. Nov. 30. Enrollment does not carry over from year to year. Beginning Nov. 2, you may enroll online at the link below or by phone at 800-358-7202.For program and enrollment details, including information to have handy when enrolling, visit the How to Enroll page on the FSA website or call 800-358-7202 .

A reminder regarding phased retirement and work reduction options available to employees.

For more information regarding Phased Retirement options, please click here.

For more information regardig Other Voluntary Reduction in Work Schedule Programs, please click here.

All faculty, staff, and student employees paid on the New York State payroll who are making mandatory contributions to a public retirement system, including NYS Employees Retirement System (ERS), NYS Teachers Retirement System (TRS), NYS Police & Fire Retirement System (PAF), as well as the SUNY Optional Retirement Program (ORP), are required to report these contributions as income in the appropriate line on their New York State personal income tax return. The dollar amount of these contributions is indicated in Block 14 of the 2019 W-2 form as 41 4(h). Failure to include this amount before filing your New York state tax return can result in additional tax payments and interest due.

Please be aware that only those faculty, staff, and student employees who are contributing to a public retirement system are impacted. If your 2019 W-2 form does not include a 414(h) code in block 14, please disregard this reminder.

For more information, please contact the NYS Dept. of Taxation and Finance at: (800) 225-5829, or visit www.tax.ny.gov.

2020 Taxation of 414(h) Retirement Contributions