Composition and Responsibilities
Section 5 of the State Finance Law created a three-member New York State Deferred Compensation Board to adopt Rules and Regulations regarding the standards and requirements of all deferred compensation plans established in New York State and to establish a deferred compensation plan for State employees. The Governor, Majority Leader of the Senate, and the Speaker of the Assembly each appoint one member to the Board. The Plan's Board members are:
- Diana Jones Ritter (appointed by the Governor)- Retired, residing in Albany County.
- David J. Friedfel (appointed by the Senate Majority)- Current Secretary to the Senate Finance Committee, residing in Albany County.
- Philip Fields (appointed by the Speaker of the Assembly)- Current Secretary to the Assembly Ways and Means Committee, residing in Schenectady County.
Board appointments are at the discretion of the appointing authority, and members can be replaced at any time. Although a background in finance is preferred, there are no required skills or expertise for Board members.
Board members are not compensated for serving on the Board.
There are currently no vacancies on the Board. Board members do not have set terms or term limits.
Board Meetings
Minority And Women-Owned Business Enterprises
This section contains the Board's Minority Women Owned Business Enterprise policy & annual activity reports.
Contact
If you wish to contact the Board, please e-mail the Executive Director of the Plan, Sharon Lukacs at: [email protected].
For New York State Plan forms, brochures or account information, go to the Plan's web site or contact the HELPLINE at 1-800-422-8463.
Local governments that would like additional information about sponsoring a deferred compensation plan for their employees using the Model Plan* should call the Board Office at 518-473-6619 or write to:
- NYS Deferred Compensation Board
1450 Western Avenue, Suite 103
Albany, NY 12203