DEA-Empower Communication to Trustee-Directed Annuity Fund Participants
IMPORTANT CHANGES COMING TO THE DEA ANNUITY FUND
This notice is about important changes that are coming to the administration and investment options provided to you as a participant of the Detectives’ Endowment Association Annuity Fund (“DEA Annuity Fund”).
Currently, the DEA Annuity Fund offers the following two investment options to participants:
Option 1 is the “trustee-managed” option. Under this option, the Fund’s Trustees direct the investment strategy with respect to contributions received on behalf of each participant, and the Fund Office maintains the account records, reconciles balances quarterly and administers distributions.
Option 2 is the “self-directed” option. Participants who elect this option choose and manage their own investments through choices offered by the current administrator of the self-directed option, Empower. The record keeping for this option is also performed by Empower and daily balances are available for participants to view electronically. Empower also administers account distributions for participants of Option 2.
Specific changes for participants in the trustee-managed Option 1
Effective July 1, 2026, the trustees managed Option 1 will merge into the self-directed Option 2, and as a result, the DEA Annuity Fund will become a fully self-directed plan. Empower will become the administrator and record keeper for all participants currently in Options 1 and 2. Additionally, assets currently managed by the Trustees under Option 1 will transition to Empower as custodian.
Note: These changes will have little to no impact on participants currently in the plan’s self-directed Option 2.
How the transition will take place
As part of this transition, Empower will create a “Trustee Managed Fund” for all participants currently in Option 1, which will follow the same investment strategy used by the Fund’s Trustees. The new Trustee Managed Fund will move from quarterly account valuations to daily valuations, meaning your account balance will be updated on a daily basis.
When the assets of participants in the current Trustee Managed Option 1 transfer to Empower, they will be initially held in a newly established Trustee Managed Fund. After the transition and account reconciliations are complete, these assets will be placed into individual participant accounts.
Participants whose accounts have transitioned from Trustee Managed Option 1 can then keep their balances in the new Trustee Managed Fund or move them to other available investment options offered by Empower, as administrator and record keeper of the new fully self-directed DEA Annuity Fund Plan.
Note: The transition period for participants in the current Trustee Managed Option 1 to the new Trustee Managed Fund is estimated to last from on and around June 22, 2026, until the week of October 4, 2026. See below for more details about the transition period and how it will temporarily impact participants’ ability to take account distributions.
New contributions for all actively working participants after the transition period
Please note that once the transition period is completed, new employer contributions for actively working participants who were formerly in the Trustee Managed Option 1 will not be invested in the new Trustee Managed Fund. Going forward, these contributions may only be invested by participants in the many other investment options offered by Empower. If after the transition period, actively working members who were formerly in the Trustee Managed Option 1 make no specific investment election for their new employer contributions, such contributions will automatically go into the Plan’s default investment fund offered by Empower, which is the Guaranteed Long-Term Account (GLTA).
What this means for participants currently in the Trustee Managed Option 1
Participants currently in the Trustee Managed Option 1 may move assets out of the Trustee Managed Fund at any time after the transition period and reconciliation of their accounts has been completed by Empower, which is projected to occur in and around the week of October 4, 2026. Participants will no longer need to wait for the Plan’s annual enrollment window to move their assets to another investment option. If a participant elects to move their money from the Trustee Managed Fund to another investment option, they will not be able to move their money back into the Trustee Managed Fund.
New roll over options for participants
Under Empower’s advanced technology platform, all DEA Annuity Fund plan participants will now have the ability to roll over assets from the taxable portion of their Final Pension Loan and banked VSF DROP Account into their DEA Annuity Fund plan. The technology used by the DEA Annuity Fund Office could not previously accommodate such rollover transactions.
Transition period (limited access to distributions)
During the transition period, participants currently in the Trustee Managed Option 1 will be temporarily unable to request distributions from their accounts. This restriction only affects requests for distributions. It is urged that you plan ahead for this temporary restriction on distribution requests, as it may affect your financial needs. During the transition period, your account balance will not include transferred Option 1 assets. These will appear after the transition period and account reconciliations are complete, which is expected during the week of October 4, 2026.
During this period, if you are actively working and eligible for contributions into the Plan, they will continue and be directed to investment options offered by Empower, which you elect. If you have no election on file, contributions will be automatically directed to the Plan’s default investment option offered by Empower, which is the GLTA.
During this period, you will only be able to see new contributions to your account. Your full account balance, including transferred Option 1 assets, will be visible and available once the transition period and account reconciliations are complete, which is expected during the week of October 4, 2026.
If you are not actively working for the City of New York, and the Annuity Fund no longer receives employer contributions for you into the plan, your full account balance will be visible once the transition period and account reconciliations are complete, which is expected during the week of October 4, 2026.
Contact information
Fund Office – 212-587-9120
Contact for distributions. To request an account distribution prior to the transition period, you must complete and submit forms to the Fund Office prior to June 22, 2026.
Empower – empowermyretirement.com, 833-569-2433
Important dates
Below is a timeline of important dates regarding the transition. Please make any inquiries in accordance with the dates below.
| June 22, 2026, by 4 p.m. Eastern time | Deadline for distributions The last day for the Fund Office to accept forms for participant distributions prior to the transition. Forms must be returned by this date to be processed before the transition period begins. Plan accordingly to ensure your request and documentation are received in a timely manner. |
| Week of October 4, 2026 | Transition period ends Enjoy full access to your new combined Empower account online, by phone, or on the Empower mobile app. |
These dates and times are subject to change.
You will have access to these great features after this change
- See your complete financial picture – View all your accounts in one place with a single login – even when you’re on the go – with the mobile app. Plus, access tools designed to help you track, manage, and plan your finances.
- Customer service from a team of specially trained consultants who can provide you with information on topics like investing and financial wellness at no additional cost to you. Retirement representatives are available weekdays from 8 a.m. to 10 p.m. Eastern time and Saturdays from 9 a.m. to 5:30 p.m. Eastern time.
How to access your account once the plan is live at Empower
Online – empowermyretirement.com
- To access your account for the first time, click the Register button.
- Follow the prompts on the I do not have a PIN tab to enter your personal information and create a username and password.
- The next time you access your account, simply choose Sign in.
By phone- 833-569-2433
Empower representatives are available weekdays from 8 a.m. to 10 p.m. Eastern time (excluding most financial market holidays) and Saturdays from 9 a.m. to 5:30 p.m. Eastern time.
Mobile – Empower app
You can download the free Empower mobile app and connect to your plan. Simply search for Empower and look for this image in the App Store® from Apple® or on Google PlayTM
Important notice concerning your rights in the Detectives’ Endowment Association Annuity Trust Fund
May 18, 2026
This notice is to inform you that the recordkeeping and administration for your account in the Trustee Managed Option 1 of the Detectives’ Endowment Association Annuity Trust Fund will transfer to Empower effective July 1, 2026.
As a result of this change, you will be temporarily unable to obtain a distribution from your account. This period during which you will be unable to exercise these rights otherwise available under the plan is called a transition period. Whether or not you are planning retirement soon, we encourage you to carefully consider how this period may affect your retirement planning as well as your overall financial plan. During the transition period, you will be unable to request distributions.
You will have limited access to your plan account beginning June 22, 2026, when your plan will go into the transition period, until the week of October 4, 2026. June 22, 2026, is the last day to complete and submit distribution requests to the Fund Office prior to the start of the transition period. During this time period, you can determine whether the transition period has ended by calling Empower at 833-569-2433.
If you have questions concerning this notice, or if you would like to confirm the status of the transition period, contact the Fund Office at 212-587-9120. Once the transition period ends, you will have full access to your plan account.
These dates and times are subject to change. Please contact Empower for more information.
Diversification does not ensure a profit or protect against loss.
Carefully consider the investment option’s objectives, risks, fees, and expenses. Contact Empower for a prospectus, summary prospectus for SEC-registered products or disclosure document for unregistered products, if available, containing this information. Read each carefully before investing.
Securities, when presented, are offered and/or distributed by Empower Financial Services, Inc., Member FINRA/SIPC. EFSI is an affiliate of Empower Retirement, LLC; Empower Funds, Inc.; and registered investment adviser Empower Advisory Group, LLC. This material is for informational purposes only and is not intended to provide investment, legal, or tax recommendations or advice.
IMPORTANT: The projections or other information generated on the website by the investment analysis tool regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results. The results may vary with each use and over time.
Fund changes may alter the risk exposure of an investment account. Some cash-alternative options (other than money market funds), such as guaranteed interest funds or stable value funds, may have withdrawal and transfer restrictions. Carefully consider the importance of a well-balanced and diversified investment portfolio while considering all your assets, income, and investments. Adjustments may be needed to realign the account with its desired investment strategy.
Point-in-time advice is provided by an Empower representative registered with Empower Financial Services, Inc. at no additional cost to account owners. There is no guarantee provided by any party that use of the advice will result in a profit.
Investing involves risk, including possible loss of principal.
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“EMPOWER” and all associated logos and product names are trademarks of Empower Annuity Insurance Company of America. ©2026 Empower Annuity Insurance Company of America. All rights reserved. RO5453307-0526
Frequently Asked Questions
What to Know About the Detectives’ Endowment Association Annuity Fund (“DEA Annuity Fund”) Transition to Empower in July 2026
GENERAL OVERVIEW
What is happening?
The Detectives’ Endowment Association (DEA) Annuity Fund is moving from a partially trustee-managed structure towards a fully self-directed plan. Effective July 1, 2026, the trustee-managed Option 1 will merge into the self-directed Option 2, with Empower becoming the recordkeeper and administrator for all participants.
What does this change mean for me?
Once the transition is complete, all participants will have access to a self-directed investment platform through Empower. This includes daily account valuations, expanded investment options, and more flexibility in managing your account.
Will I have online access to my account?
Yes. Once the transition and account reconciliation are complete, you will be able to access your account online through Empower to view your balance, manage investments, and track activity.
Will I need to take any action?
No action is required unless you want to request a distribution before the transition period begins. Distribution forms must be submitted to the Fund Office by June 22, 2026, at 4 p.m. ET.
How do I learn more about the transition?
Refer to the enclosed transition guide important dates, details about how your investments will transfer, and required regulatory notices. You can also contact the Fund Office or Empower for additional information.
KEY DATES & EVENTS
Are there important dates I should know about?
Yes. Keep these in mind:
- June 22, 2026, at 4 p.m. ET – Deadline to submit distribution requests before the transition period
- Week of October 4, 2026 – Transition period ends and full account access is restored
These dates are subject to change.
ACCOUNT TRANSITION
What will happen to my account during the transition?
If you are currently in the trustee-managed Option 1, your assets will transfer to Empower and be placed in a new Trustee Managed Fund that follows the same investment strategy. After reconciliation, your assets will move into your individual Empower account.
What is the transition period?
The transition period is when assets and records are being transferred to Empower. During this time, access to certain account features, like distributions, will be temporarily limited.
Will I be able to access my full account balance during the transition?
No. During the transition period, you will only see new contributions. Your full balance, including transferred assets, will be available once the transition and reconciliation are complete (expected the week of October 4, 2026).
Will my account continue to be invested during the transition period?
Yes. Your assets will continue to be invested during the transition period in the Trustee Managed Fund until the transfer and reconciliation process is complete.
Can I request a distribution or withdrawal during the transition period?
No. Distribution requests will not be processed until the transition period and account reconciliation are complete.
When will the transition period be complete?
The transition period is expected to be completed the week of October 4, 2026. Once complete, you will have full access to your account.
INVESTMENTS
How will my investments be handled after the transition?
Your assets will initially be placed in a Trustee Managed Fund that mirrors the current trustee strategy. After the transition, you can choose to remain in that fund or move your assets to other available Empower investment options.
Will I be able to make investment changes?
Yes. After the transition is complete, you can move your assets at any time. You will no longer need to wait for an annual enrollment period.
Can I move money back into the Trustee Managed Fund after leaving it?
No. Once you move assets out of the Trustee Managed Fund, you cannot move them back.
Can I remain invested in the Trustee Managed Fund?
Yes. After the transition is complete, you may choose to keep your assets in the Trustee Managed Fund.
Do I still have to wait for quarterly updates to see my balance?
No. After the transition, your account will be valued daily, and your balance will update each business day.
How will new contributions be invested?
After the transition period, new employer contributions will not go into the Trustee Managed Fund. You must choose from the available Empower investment options. If no election is made, contributions will default to the Guaranteed Long-Term Account (GLTA).
ROLLOVERS
Can I roll over my banked VSF or the taxable portion of my final pension loan into my DEA Annuity Fund account upon separation from the Department?
Yes. After the transition, you will be able to roll over eligible assets from your banked VSF and the taxable portion of your final pension loan into your account. Consider all your options, including taxes, fees and expenses, before moving money between accounts. Assess all benefits of current accounts before moving money.
Will I have any tax implications when completing a rollover?
Tax implications may apply depending on your individual situation. You should consult a tax advisor for guidance. Empower does not provide tax advice.
ADDITIONAL FEATURES
Are there new capabilities with Empower? Yes. You will gain access to:
- Daily account valuation
- Online and mobile account access
- Financial tools and retirement planning resources
- The ability to roll over eligible assets from your Final Pension Loan or VSF DROP account into the plan
SUPPORT & RESOURCES
How can I access my account once the transition is complete?
- Online: empowermyretirement.com
- Phone: 833-569-2433
- Mobile: Empower app
You will need to register the first time you log in.
Who can I contact with questions?
- Before the transition period: Fund Office at 212-587-9120
- After the transition: Empower at 833-569-2433 or empowermyretirement.com
Can I receive investment education from Empower?
Yes. After the transition, you will have access to resources and representatives who can provide general investment and financial wellness guidance.
