New York's College Savings Plan
All employees are eligible to participate in New York's College Savings Plan, a program designed to help families save for future college expenses, while receiving significant tax benefits. Employees may contribute to the program through payroll deduction. Program highlights include:
- New York State tax deduction on the first $5000 contributed each year ($10,000 for married couples when each spouse opens an account);
- Federal income taxes on investment earnings are deferred until the time of withdrawal; and
- Qualified withdrawals are not subject to New York State taxes.
Enrollment information is available from the Human Resources Office or directly from the NYS College Savings Plan at 1-877-NYSAVES.
34 Cornell Drive
Canton, NY 13617
Fax: (315) 386-7064