THE STATE UNIVERSITY of NEW YORK TAX DEFERRED RETIREMENT SAVINGS PROGRAM 2008



As an employee of SUNY, you are eligible to participate in SUNY's tax-deferred Retirement Savings Program. 
This program provides a way for you to save extra money for retirement through payroll deduction; there is 
no employer contribution. 


HOW MUCH MAY I CONTRIBUTE? 
You choose the amount, within certain limits. To participate in the program or change the amount of your 
contribution you must sign a Salary Reduction Agreement. You may change your contribution as frequently as you 
wish.  Limit if under age 50, 2008 - $15,500.  Limit if age 50 or over (by 12/31), 2008 - $20,500.

Employees who have at least 15 years of service with SUNY may be eligible to contribute an extra $3,000 per 
year (lifetime maximum $15,000) in addition to the amounts listed above. If interested, contact your college 
Human Resource Office to see if you qualify. 

This plan is set up under Section 403(b) of the Internal Revenue Code. If, through another employer, you 
contribute to a 403(b) or 401(k) plan, the limit applies to all contributions combined. Contributions to a 457 
(deferred compensation) plan do not affect contributions to this program. 


WHERE IS MY MONEY INVESTED? 
The following providers are available to you: 

	- Teachers Insurance Annuity Association-College Retirement Equities Fund (TIAA-CREF) available to all 
	  employees, 1-800-842-2776 or www.tiaa-cref.org/suny
	- AIG Retirement, available only to UUP and Unclassified M/C employees, 1-888-677-569-7055 or 
	  www.AIGRetirement.com/suny 
	- ING Life Insurance and Annuity Company, availabale only to UUP and Unclassified M/C employees, 
	  1-800-677-4636 or www.ingretirementplans.com/custom/suny
	- MetLife, available only to UUP and Unclassified M/C employees, 716-634-2117 or www.metlife.com/suny
	- Fidelity Investments (403(b)(7)Mutual Funds) available only to UUP and Unclassified M/C employees, 
	  1-800-343-0860 or www.fidelity.com 

You choose the providers(s) you wish to invest with, and which of their funds, including stock funds, bond 
funds and guaranteed funds.  Contributions are always 100% vested.


HOW DOES A TAX-DEFERRED SAVINGS PROGRAM WORK?
You do not pay federal or state income tax on the money at the time you contribute it.  Your contribution is 
subtracted from your income befofre federal and state taxes are computed.

You will be taxed on your contributions, plus earnings, at the time you withdraw the funds.  Usually this will 
be during your retirement, when you may be in a lower tax bracket.

Withdrawals will be subject to federal income tax.  If you are 59 1/2, you may be subject to an additional 10% 
tax.  This additional tax does not apply if you separated from service at age 55 or older.

If you are receiving a lifetime income, or in cases of death, disability, or significant un-reimbursed medical
expenses. Your liability for state income taxes will depend upon the laws of the state in which you live at 
the time of withdrawal.  Current New Yok State law excludes the first $20,000 of income per year from certain 
pension and annuity programs, including tax-deferred savings plans, from taxable income if the recipient is at 
least age 59 1/2.


HOW AND WHEN MAY MONEY BE WITHDRAWN FROM THE PLAN? 
Funds may be withdrawn upon separation from service, attainment of age 59 1/2, death, disability, or severe 
financial hardship. Payment options include annuitization (a lifetime income) and full or partial cash 
withdrawals. You may also borrow from your account, subject to certain restrictions. 


MAY I ROLL MONEY FROM OTHER PLANS INTO THIS PLAN? 
Yes. If you are eligible to withdraw funds from a previous employer's plan, you may roll the money into this 
plan. 


ARE THERE OTHER WAYS FOR ME TO SAVE ON A TAX-DEFERRED BASIS?
You are also eligible to participate in the NYS Deferred Compensation Plan (a section 457 plan) for 
tax-deferred savings through payroll deduction (www.nysdcp.com, 1-800-422-8463). Because section 457 plans are 
set up under a different section of the Internal Revenue Code than SUNY's tax-deferred savings program, the 
amount you can contribute and rules for withdrawal are a bit different. You may choose whether to participate 
in the Deferred Compensation Plan, in SUNY's tax-deferred savings program, or both. Contact your Human 
Resources Office for further information. 


HOW DO I SIGN UP? 
See your Human Resources Office to complete a Salary Reduction Agreement, as well as enrollment forms for the 
provider you choose. 




THE STATE UNIVERSITY of NEW YORK
Office of Human Resources
State University Plaza 	
Albany, New York 12246