Ask the PBA

Good point its 62 right ? Another reason it would be crazy for any LEO to sign up for the investment plan especially when there is a one time switch option anyway to the investment plan.

Its 59 1/2...not sure but it may be a federal rule...

Age 50 for public safety employees.

Retirement Topics - Tax on Early Distributions

Generally, the amounts an individual withdraws from his or her IRA or other qualified retirement plan before reaching age 59½ are called ”early” or ”premature” distributions. Individuals must pay an additional 10% early withdrawal tax and report the amount to the IRS for any early distributions, unless an exception applies.

Exceptions: There are several exceptions to the age 59½ rule. Even if individuals receive a distribution before they are age 59½, they may not have to pay the 10% additional tax if they are in one of the following situations.
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They receive a distribution from a retirement plan (other than an IRA) after leaving a job and are age 55 (age 50 for qualified public safety employees).

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They have unreimbursed medical expenses that are more than 7.5% of their adjusted gross income.

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The distributions are not more than the cost of their medical insurance (IRA only).

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They are disabled.

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They are a beneficiary of a deceased plan participant or IRA owner.

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They are receiving distributions in the form of an annuity.

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The distributions are not more than their qualified higher education expenses (IRA only).

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They use the distributions to buy, build or rebuild a first home (IRA only, and limited to $10,000).

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The distribution is due to an IRS levy.

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The distribution is a qualified reservist distribution.

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The distribution is made to an alternate payee under a QDRO.

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They are receiving a distribution timely made to reduce excess contributions under a 401(k) plan.

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They are receiving a distribution timely made to reduce excess employee or matching employer contributions (excess aggregate contributions).

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They are receiving a distribution timely made to reduce excess elective deferrals.

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They are receiving a permissible withdrawal from an EACA.

http://www.irs.gov/Retirement-Plans/Pla ... tributions

We have some Sheriff deputies in my area up in arms over that 59.5 age stuff. I think they were wanting to take their investment plan prior to that as a lump sum and were told they would take the big tax hit unless they made it an annuity. They are trying to sue the guys who talked them into not going into the defined benefit but my guess is they will lose. They were fed that line of crap about the market always performing like it did from the early 80's to late 90's and got screwed.

So now I have a great question to ask. Now that the state has won the 3%,, what about the people in the investment plan who are now only getting 12% instead of the 20%??? Its like a double hit, I want something to be done about this..! Is there anything in the works on this? What is the PBA proposing about this? With the 3% cut final, and the loss of the 8% in investments and now my taxes went up also,,, I am loosing out on a lot. I think it may be time I put in an application with Tampa Police Department. I am tired of all of this BS. Why does Georgia and Alabama State Troopers get paid more (a lot more) than FHP? Has anyone ever though of that??? This agency-- with its new heads, its terrible pay, is CRAP and I want out. I have invested a lot of years just to be crapped on the whole time, with beautiful dreams about the future that NEVER materialize.

Yeah us in the investment plan are getting screwed by **** Scott big time!

I thought it was still 20% minus the 3% we contribute. I did not know the matching was only 12% now. How did this happen and no big deal was made of it. I think this was also a contract issue since the reason many have switched to the investment plan was because of the 20%. So what do we need to do about this?

So now I have a great question to ask. Now that the state has won the 3%,, what about the people in the investment plan who are now only getting 12% instead of the 20%??? Its like a double hit, I want something to be done about this..! Is there anything in the works on this? What is the PBA proposing about this? With the 3% cut final, and the loss of the 8% in investments and now my taxes went up also,,, I am loosing out on a lot. I think it may be time I put in an application with Tampa Police Department. I am tired of all of this BS. Why does Georgia and Alabama State Troopers get paid more (a lot more) than FHP? Has anyone ever though of that??? This agency-- with its new heads, its terrible pay, is CRAP and I want out. I have invested a lot of years just to be crapped on the whole time, with beautiful dreams about the future that NEVER materialize.

Yeah us in the investment plan are getting screwed by **** Scott big time!

I thought it was still 20% minus the 3% we contribute. I did not know the matching was only 12% now. How did this happen and no big deal was made of it. I think this was also a contract issue since the reason many have switched to the investment plan was because of the 20%. So what do we need to do about this?

KEEP WORKING!!!!! :lol: :lol:

Matt:
Can you give us some info on the changes in state laws regarding off duty and retired officer carrying in other states. Some states or cities have passed laws limiting magazines to seven rounds. Apparently applies to active leos too. FOP has posted some limited info on other Leo affairs sites. Can the PBA lawyers look into this and help. Could prevent an arrest or discipline for members.

[Matt Puckett]

Matt:
Can you give us some info on the changes in state laws regarding off duty and retired officer carrying in other states. Some states or cities have passed laws limiting magazines to seven rounds. Apparently applies to active leos too. FOP has posted some limited info on other Leo affairs sites. Can the PBA lawyers look into this and help. Could prevent an arrest or discipline for members.

We will look into it and post what we find.

[Matt Puckett]

We will post more, but this link does a state by state analysis of gun laws.

http://en.wikipedia.org/wiki/Gun_laws_i ... s_by_state

We will post more, but this link does a state by state analysis of gun laws.

http://en.wikipedia.org/wiki/Gun_laws_i ... s_by_state

Thank you Matt. This was on the Tampa PD site.


This alert is to advise members of the Fraternal Order of Police that recent changes to firearms laws in New York may impact active and retired officers visiting the State and carrying concealed firearms under the auspices of the Law Enforcement Officers' Safety Act (LEOSA).

New York State law prohibits the possession of magazines holding more than seven (7) rounds. The exemption provided by the LEOSA from State and local prohibitions on the carriage of concealed firearms does NOT exempt active and retired officers from State or local laws regulating magazines. It is unlawful for out-of-State active or retired law enforcement officers to possess a magazine which is capable of holding more than seven (7) rounds in the State of New York and you could face a criminal charge. It is our understanding that the prohibition on magazines went into effect immediately.

While the National Legislative Office has not done a full legal analysis of the new laws, it is very clear that this provision in the new laws will have an immediate effect on FOP members traveling to or through the State of New York. In addition, retired law enforcement officers living in New York--even those who have retired or separated from their agency in good standing in the State of New York--may also be affected by the ban on magazines capable of holding more than seven (7) rounds.

We urge our members that choose to carry concealed firearms in New York under the auspices of the LEOSA to follow the law and use good judgement. Any questions about the new laws in the State of New York should be directed to the New York State Troopers or Office of the Attorney General of New York.
Gun Law Alert

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Re: New York stinks
by wheelgun » 02/02/13 07:31:19

Going there in May, will carry a revolver due to this law. Also, Maryland, Virginia, D.C., and New Jersey have magazine capacity laws now. Since I'm driving, I will pass thru most of those states. Glad I never got rid of my 6-shot Colt. Peace.
wheelgun

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The reason that Matt is on this board now is because he knows that there is a challenge to PBA from IUPA wanting to take over. A little secret for you guys that have not been around too long is this. There used to be a website called FLORIDA STATE COP .COM when we were under IUPA . Matt got on there promising everything just like he is doing now. And in 2006 PBA got in . But we didnt hear SHIT from Matt until just recently because he is trying to sucker us back into voting for the PBA again. Matt will lose his job if the Troopers vote him out, he is basiclly a hatchetman for the PBA and does nothing for the road trooper.

[Matt Puckett]

The reason that Matt is on this board now is because he knows that there is a challenge to PBA from IUPA wanting to take over. A little secret for you guys that have not been around too long is this. There used to be a website called FLORIDA STATE COP .COM when we were under IUPA . Matt got on there promising everything just like he is doing now. And in 2006 PBA got in . But we didnt hear SHIT from Matt until just recently because he is trying to sucker us back into voting for the PBA again. Matt will lose his job if the Troopers vote him out, he is basiclly a hatchetman for the PBA and does nothing for the road trooper.

Against my better judgment I am going to respond to this.

Well, I don't know what promises I am making to you. Please list all these promises. I am just answering questions and trying to dispel rumors.

Here's a question for you and the others on here that post negative stuff about everything and anything, why do I cause you such discomfort? If I am so horrible why do you care what I have to say?

Let's pretend all you say is true. So the worse thing I am doing is talking to people on here who have questions and want answers. PBA and I are being held accountable? If this is some kind of trick I am trying to pull, I'm not doing it so well.