Every November, enrollees in the NYS Health Insurance Program (NYSHIP) may elect to participate or not participate in the Pre-Tax Contribution Program (PTCP) for the upcoming plan year. During November, current PTCP enrollees may also make changes to their coverage (without a qualifying event) which impact the NYSHIP deduction for the upcoming plan year.
State employees can create, change or cancel payroll contributions for voluntary retirement savings plan(s) for 2022. The IRS has announced that the maximum calendar year contribution limits have increased for 2022.
As delayed pay raises are paid out over the next few months, state employees should keep in mind their option to defer compensation to the SUNY 403(b) and the NYS Deferred Compensation Program if they wish.
Governor Cuomo recently signed legislation that grants employees time off to receive the COVID-19 vaccination. Effective March 12, 2021, under this new law, employees will be granted up to four hours of excused leave per injection that will not be charged against any other leave the employee has earned or accrued.