ECMC offers employees the opportunity to participate in a 457(B) plan administered by AIG Retirement Services. The deferred compensation plan offers a variety of pre-tax investment options for the employees.
You decide how to invest all contributions among the mutual funds and Fixed-Interest options offered under the 457(b) Deferred Compensation Plan.
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The NYSLRS is a defined benefit plan. Your retirement benefit will be based on factors such as your tier, service credit, final average salary, and age at retirement.
All employees of Erie County Medical Center may join the New York State Retirement System.
The New York State VDC program is a flexible, rapid-vesting alternative to defined benefit (DB) pension plans. Every year, your employer will contribute an amount equal to 8% of your compensation toward your VDC program. After just one year, all contributions are fully vested. Unlike defined benefit plans, the VDC program lets you control your balance and your investments. You can direct your contributions to authorized investment providers and take cash withdrawals at certain times.
You may be eligible for the VDC program if you are Management Confidential and have an estimated annual salary rate of pay of $75,000 or greater. Employees have 30 days from their date of hire to enroll in the program or with a qualifying event. Contact the ECMC Benefits to confirm eligibility prior to enrolling online.