The SUNY Voluntary Savings Plan 2023 Universal Availability Notice

The State University of New York (“SUNY”) provides employees with the opportunity to save for their retirement through the SUNY Voluntary 403(b) Savings Plan (the “Plan”). Participation in the SUNY Voluntary Savings Plan is a great way to build your retirement savings through pre-tax and/or post-tax payroll deduction contributions.

Whether you want to enroll in the plan for the first time, or you are already enrolled but wish to change the amount of your deferral, you can do so through the SUNY online enrollment and management system at 


All employees of SUNY who receive compensation reportable on an IRS Form W-2 are eligible to participate in the Plan. All employees can either defer money pretax (traditional) or post tax (Roth).

Please take a moment to review the plan materials before enrolling, available at Once you are enrolled, you can review and change the amount of your contributions as often as once per pay period, in accordance with campus payroll deadlines for submitting changes, through the SUNY online enrollment and management system at*. The exact date your investment allocations will take effect may vary depending upon your payroll system deadlines and the policies of the Investment Provider you chose for Plan contributions.

In addition to the SUNY 403(b) plan, the NYS Deferred Compensation Plan (NYSDCP) also provides a way for you to contribute to a retirement account on both a pre-tax (Traditional) and post-tax (Roth) basis through payroll deduction.

Through the pre-tax options (Traditional), your contributions, plus earnings are not taxed until you withdraw the funds. Distributions are considered ordinary income for tax purposes.

Through the post-tax (Roth) option, your contributions are taxed at the time you make them. Earnings are income tax-free upon qualified distribution if you are 59 ½ (for the 403(b) Plan) or separated from service (for both 403(b) and 457 Plans) and it has been at least five taxable years since the initial Roth deposit.


For 2023 you can contribute up to $22,500 per year. If you are age 50 or older anytime in 2023, you can contribute an additional $7,500, for a maximum of $30,000. If you want to make a change for 2023 you will need to do so at, and you will need to make your entry change within December 8, 2022 - December 21, 2022 time period. This will make the change effective for your first paycheck in January (1/4/23).  You may go to the retirement@work site sooner again using a paycheck effective date of 1/4/23. 

Each participant is limited to these maximum contribution amounts for all 403(b) and 457 plans, respectively. SUNY employees are able to maximize contributions to both the SUNY 403(b) Plan and the NYS Deferred Compensation 457 Plan concurrently. However, if you also participate in a 403(b) or 457 plan with another employer, you are responsible for tracking and reporting the amount of all of your contributions to the plans so that the total amount of all your annual contributions to all plans in which you participate do not exceed the limit. 457 Plans may also offer, for eligible participants, the Special Retirement Catch-up Provision for contributions within 3 years of your elected normal retirement age.

A special limit may apply to your contributions if you “control” (meaning you have more than a 50% ownership interest) in another business and you participate in its retirement plan. In determining the annual limit for all contributions described above, you must include all contributions made on your behalf under any defined contribution plans maintained by the other business that you control. You are required to inform your Employee Benefits Office if this situation applies to you. Failure to do so can result in adverse tax consequences to you.


There are several different Plan options and Investment Providers to choose from through the SUNY 403(b) Plan. NYSDCP also offers its own investment options. Authorized Investment Providers offer a wide choice of investment options, including stock, bond, and guaranteed funds. Each provider offers individual counseling and assistance on investment information and can review the pre- and post-tax contribution options to best meet your retirement planning needs.

The following Authorized Plans and Investment Providers are available to you within the SUNY 403(b) Plan:

Corebridge Financial (Formerly, AIG Retirement Services)

1-800-448-2542 or 1-888-569-7055,

Fidelity Investments (403(b)(7) Mutual Funds)

1-844-FOR-SUNY (844-367-7869),

Teachers Insurance Annuity Associate (TIAA)


Voya Financial


NYS Deferred Compensation Plan (457)




If you wish to enroll or change your enrollment in the NYS Deferred Compensation Plan (NYSDCP), you will need to contact NYSDCP directly.

If you are enrolling* in SUNY’s 403(b) plan for the first time, you can do so by using the SUNY online enrollment and management system at 

If you are currently enrolled and wish to contribute the same BI-WEEKLY amount in 2023, no action on your part is necessary unless you are currently contributing additional monies under the Age 50 rule outlined above. Please check your pay stub to be sure your current bi-weekly contribution for 403(b) deductions with any investment providers with whom you are investing) multiplied by the number of remaining pay periods in the year does not exceed the allowable limit. Please be mindful that if you made a change mid-year, you will need to make sure that your current biweekly amount will result in the correct annual amount you want deferred for 2023.

Please note that if you elect to contribute a flat dollar amount that exceeds the amount available in your net pay, a partial deduction will be made, equal to the amount of net pay available. This will result in a $0 net pay check.

To change* the amount you are now contributing, please do so by using the SUNY online enrollment and management system at *Employees unable to enroll or make changes online, should contact the Retirement at Work customer service line at: 800-271-0960.

For further details, or if you have questions, please contact Human Resources at 315-312-2230 or

Please visit the HR announcements page for the most up-to-date information from the college’s Human Resources and Payroll Offices.

Date Posted:  11/14/2022