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. Participation in the SUNY Voluntary Savings Plan is a great way to build your retirement savings through pre-tax 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 "Retirement At Work" online enrollment and management system. For more information, please call the Employee Benefits Office at (716) 878-4821 or visit the SUNY Benefits website.
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Eligibility
All employees of SUNY who receive compensation reportable on an IRS form W-2 are eligible to participate in the plan.
Please take a moment to review the plan materials before enrolling. 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 "Retirement At Work" online enrollment and management system.
The exact date that your investment allocations will take effect may vary depending on 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 59-1/2 (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.
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How Much Can I Contribute?
For 2024, you can contribute up to $23,000 per year. If you are age 50 or older anytime in 2024, you can contribute an additional $7,500, for a maximum of $30,500.
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 Plan (457) 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 does not exceed the limit. Deferred Compensation (457) plans may also offer, for eligible participants, the Special Retirement Catch-up Provision for contributions within three 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 percent 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 the Benefits Office if this situation applies to you. Failure to do so can result in adverse tax consequences to you.
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What Are My Savings Options?
There are several plan options and investment providers to choose from through the SUNY 403(b) Plan. NYS Deferred Compensation Plan 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)
(800) 448-2542 or (888) 569-7055
https://www.corebridgefinancial.com/rs/suny/home
Fidelity Investments (403(b)(7) Mutual Funds)
(844) FOR-SUNY (844) 367-7869
www.netbenefits.com/SUNY
Teachers Insurance Annuity Associate (TIAA)
(800) 662-7945
www.tiaa.org/suny
Voya Financial
(800) 584-6001
https://suny.beready2retire.com/
NYS Deferred Compensation Plan (457)
(800) 422-8463
www.nysdcp.com
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What Do I Need to Do?
If you wish to enroll or change your enrollment in the NYS Deferred Compensation Plan (NYSDCP), you must contact NYSDCP directly.
If you are currently enrolled and wish to contribute the same biweekly amount in 2024, no action on your part is necessary unless you are currently contributing additional moneys under the “age 50” rule outlined above. Please check your pay stub to be sure your current biweekly 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 must make sure that your current biweekly amount will result in the correct annual amount you want deferred for 2024.
To change the amount you are now contributing, please use the SUNY "Retirement At Work" online enrollment and management system. For assistance with this process or if you have questions, please contact the Benefits Office.
Posted in The Daily on 2/5/2024
Human Resource Management is pleased to announce a Phased Retirement Program for eligible academic and professional employees. The program provides an opportunity for a phased approach to retirement, allowing employees to transition into retirement gradually, with a reduction in workload or obligation and commensurate reduction in pay. The program is voluntary and optional.
Program details, including eligibility requirements, the application, and the intent to resign for retirement template letter, are available on the Human Resource Management website.
Eligible employees should discuss the program with their chair or head of their department. Participation in the program is subject to review and approval of the President.
Please contact Human Resource Management with questions.
Posted in The Daily on 2/2/2023
The State of New York/United University Professions Joint Labor-Management Committees have announced that $56,656 has been allocated to SUNY Buffalo State for Individual Development Awards for the new program period of July 2, 2023, through July 1, 2024.
This award program is intended to assist employees in the UUP bargaining unit in developing their full professional potential and preparing for advancement by funding professional development activities. Information on eligibility requirements, types of projects or activities funded, funding priorities, and expenditure limitations along with the application and instructions are available on the Human Resource Management website.
The maximum amount that can be awarded for each employee under this program is $2,000. Employees may be funded for up to two projects or activities, not to exceed a total of $2,000. The funded activity must take place between July 2, 2023, and July 1, 2024.
Applications for this award period must be received at uupida@buffalostate.edu no later than March 29, 2024.
Individual Development Awards committee members are Lisa Marie Anselmi and Jude Jayatilleke representing UUP, and Erika Grande and Charles Lyons representing management. If you have any questions regarding the awards, please contact Erika Grande in Human Resource Management.
Posted in The Daily on 1/24/2024
New York State/United University Professions Joint Labor-Management Committees (NYS/UUP JLMC) offers FREE Professional Development Training to UUP employees. Expand your knowledge on Leadership with FREE online learning. EKB has over 10,000 resources, including books, audiobooks, courses, and videos.
Virtual Collaboration topics available through EKB include:
To access the EKB guidelines and application: EKB License Guidelines (ny.gov) and EKB License Application (ny.gov).
For further information contact NYS/UUP JLMC at nysuuplmc@oer.ny.gov, 1-518-486-4666, or 2 Empire State Plaza 8th Floor Albany, NY 12223.
In any fiscal year in which February 29th falls, the Office of the State Comptroller automatically adjusts salaried employees' biweekly salary calculations based on 366 days in the fiscal year. Salaried employees paid on a calendar year basis will see a change in their biweekly gross earnings beginning with the September 27, 2023 paycheck.
The definition of calendar year and the leap year and non-leap year salary calculation is posted on the Payroll FAQs page and is noted below.
Questions may be directed to the Payroll Office via email at payroll@buffalostate.edu or by phone at 716-878-4124.
Pay Modes - Calendar (CAL)
Use for faculty with academic year obligations paid over 12 months. The normal appointment year or payroll obligation dates for faculty is 9/1/xx – 8/31/xx. The faculty academic year obligation is determined each year by the President. (26 pay periods)
Why is there a discrepancy between my gross annual earnings and my annual base salary?
Since a fiscal year cannot be divided equally into bi-weekly periods, computation of the bi-weekly wage is made by dividing the annual salary by the number of calendar days in the fiscal year (365 or in the case of a leap year, 366) and multiplying this result by fourteen, the number of calendar days in a bi-weekly period. To reduce this process to one step, the fractions 14/365 and 14/366 are converted to multiplication factors: .038356 (non-leap year) and .038251 (leap year).
Normally, there are 26 pay periods during a calendar year. Due to the idiosyncrasies in the calendar and the State's payroll cycle, State employees occasionally receive 27 paychecks in a calendar year, instead of 26. When this occurs, the employee's gross annual earnings will be higher than the annual salary.
New York State enacted legislation in 2018 requiring all employers, including Buffalo State University, to ensure that their employees complete sexual harassment prevention training annually. The Equity and Campus Diversity Office has developed a 20-minute online program that meets all New York State requirements for sexual harassment prevention training.
NYS Labor Law §27b mandates that all public employees participate in annual workplace violence prevention training.
These training programs must be completed online using BizLibrary no later than Tuesday, November 21.
Employees can log in to BizLibrary to complete the training by following these steps:
Student employees, including graduate students, work-study students, and student workers, are also required to complete the mandatory sexual harassment training.
Student employees should take the following steps to complete the training:
If you experience log-in issues, please contact the IT Help Desk. Please visit the Equity and Campus Diversity Frequently Asked Questions page or contact the Equity and Campus Diversity Office, 716-878-6210, with questions about the training.
New York State/United University Professions Joint Labor-Management Committees (NYS/UUP JLMC) is offering FREE professional development through the Empire KnowledgeBank (EKB). Expand your Microsoft Office knowledge with this FREE online learning. EKB has over 10,000 resources, including books, audiobooks, courses, and videos. Microsoft Office topics available through EKB include:
To apply for an EKB license, access the EKB guidelines and application:
EKB License Guidelines (ny.gov) and EKB License Application (ny.gov)
For further information contact NYS/UUP JLMC via nysuuplmc@oer.ny.gov, 1-518-486-4666, or 2 Empire State Plaza, 8th Floor, Albany, NY 12223.
Every Buffalo State University employee plays a valuable and critical role in helping us fulfill our mission to serve our students, faculty, and staff in addition to our surrounding community to the best of our ability. Our supervisors have the added responsibility of providing honest, constructive, and specific feedback to their staff members to affirm successful goal accomplishment and to address any performance issues that require attention. I also expect supervisors to provide positive, collegial, and respectful commentary where appropriate to motivate and encourage excellence in performance.
Performance evaluations, goal setting, and accountability are a primary responsibility of every supervisor, and it is my expectation that they be completed each year for all employees. Supervisors and employees should be aware that fulfilling this important responsibility will be considered in decisions to award discretionary increases when available, promotions, and other personnel actions.
Our campus has performance evaluation systems in place that are intended to clarify job expectations, encourage, and support professional development, provide quality feedback, and foster continuous constructive and communication between the supervisor and the employee on performance throughout the year.
I am asking all supervisors to use the process and forms available on the Human Resource Management website and to consult with our Human Resource Management staff members if you have any questions on the process or need advice on addressing performance issues.
Posted in The Daily 9/5/2023
Any employees who have been inactive on state payroll for more than two pay periods will have their direct deposit deactivated by the Office of the State Comptroller. Employees returning for fall 2023 who had direct deposit in previously semesters and whose information has not changed must request reactivation by submitting the Direct Deposit Reactivation Request Form via email to the Payroll Office.
Buffalo State University participates in the New York State Direct Deposit Program. Through this program, employees may choose to have their net salary partially or entirely deposited directly, via electronic funds transfer, with any financial institution that can receive transactions through the automated clearinghouse system. To enroll, please bring completed original Direct Deposit Forms (PDF, 1.9 MB) to the Payroll Office located in Cleveland Hall 408.
Please share this message with your returning students as well.
Posted in The Daily 08/31/2023
This policy has been extended through June 30, 2024. While the SUNY program will continue through June 30, 2024, extensions of telecommuting arrangements for Buffalo State employees are not automatic. Employees must request extensions of their existing plans or apply for new plans. All telecommuting arrangements must be reviewed and approved by the employee’s immediate supervisor or manager, the department head or dean, the division leader, and senior campus leadership.
Requesting an Extension of a Telecommuting Plan
Please discuss your request with your supervisor and submit the SUNY Telecommuting Program Application and Work Plan, checking the box labeled “Application for Renewal.” Your plan should be updated at this time to reflect any operational changes. While your request is being reviewed for approval, your existing plan will remain in effect. The Human Resource Management Office will notify you of the outcome of the review process for an extension.
Requesting a New Telecommuting Plan
Please discuss your request with your supervisor and submit the SUNY Telecommuting Program Application and Work Plan, checking the box labeled “New Application.” New telecommuting work arrangements must not commence until they receive final written approval. The Human Resource Management Office will notify you when the arrangement can begin. Employees approved to participate in the telecommuting program must complete and submit to their supervisors biweekly progress reports describing work completed while telecommuting. The Human Resource Management Office may, at any time, request these reports to ensure compliance with the program.
Please note the following program highlights:
Telecommuting program information for employees and supervisors is available at https://hr.buffalostate.edu/telecommuting-program.
Please contact the Human Resource Management Office staff with questions about the program.
The New York State and CSEA Partnership’s 2023-2024 Tuition Benefits Program for eligible CSEA-represented NYS employees applications is available. The catalog and application are available online.
Eligible CSEA-represented NYS employees can:
Applications must be received by March 31, 2024.
Any course taken must be in session during the time frame of April 1, 2023, and March 31, 2024. All eligible courses must be vocational, trade, technical or business-related, instructor-led, and relevant to a NYS occupation or NYS workforce need.
Applications will be accepted by mail (NYS & CSEA Partnership for Education and Training, Corporate Plaza East – Suite 502, 240 Washington Avenue Extension, Albany, NY 12203), by fax at 518-486-1989, or by email to tuitionapplications@nyscseapartnership.org.
Educational Advisement Services and more information are available by calling 1-800-253-4332 (Option 1) or emailing advisors@nyscseapartnership.org and learning@nyscseapartnership.org.
Aspiring nurses, welders, HVAC technicians, information technology professionals, and commercial drivers can save money on tuition for eligible programming through the Partnership’s Statewide Targeted Tuition Program.
CSEA-represented NYS employees training in these career fields can receive up to two targeted tuition benefits. This is in addition to the two standard tuition benefits available to all CSEA-represented NYS employees. This means eligible employees can receive a total of four tuition benefits. Each benefit can cover up to $1,220. The four benefits can add up to $4,880 per year. The catalog and application are available online.
The additional benefits help employees attain their coursework faster while reducing their tuition expenses. Statewide Targeted Tuition Programs:
Applications must be received by March 31, 2024.
Applications will be accepted by mail (NYS & CSEA Partnership for Education and Training, Corporate Plaza East – Suite 502, 240 Washington Avenue Extension, Albany, NY 12203), by fax at 518-486-1989, or by email to tuitionapplications@nyscseapartnership.org. For more information, contact a Partnership advisor at 1-800-253-4332 (Option 1) or advisors@nyscsepartnership.org.
ERS will be distributing the Member Annual Statement (MAS) during the months of May and June which contains valuable information that can help members understand their retirement benefits and plan for the future. Your MAS will be mailed by ERS directly to your home address. Since statements are provided directly to a member's home address, it is important that ERS have the member's current contact information on file.
ERS members may sign into their retirement online account to view their mailing and e-mail addresses, and update them if needed. You can receive your MAS faster by choosing to receive it through Retirement Online. Go to the “My Profile Information” area of your Account Homepage in Retirement Online, click “update” next to “Member Annual Statement and choose “Email” in the dropdown. If you don’t elect to receive your MAS by e-mail, it will be mailed to your address on file. When you choose to receive your MAS through Retirement Online, you’ll receive an e-mail when your Statement is ready to view. You also will have the ability to save and download an electronic copy of your Statement.
If you need to update any of your contact information, including your home/mailing address, you may do so via:
You may visit the ERS website which explains your MAS. As an additional reminder, if you have had previous membership in ERS, or any of the following public retirement systems, your service may be transferred, re-credited and your date of membership and tier restored:
You may also be able to get retirement credit for any prior NYS public employment (i.e. municipal, town, village, city, etc.) even if you did not previously join a retirement system. This is also the case regarding military service you have had in the U. S. armed forces.
To be eligible to receive credit for your military service under Article 20, you must meet the outlined criteria. If you have any questions regarding tier reinstatement or receiving additional service credit, please contact ERS at 1-866-805-0990.
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