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S. 969

Federal Public Safety Retirement Fairness Act of 2015

Federal Public Safety Retirement Fairness Act of 2015

This bill amends the Internal Revenue Code to exempt from the 10% additional tax on early distributions from tax-exempt retirement plans distributions from a thrift savings fund to a qualified law enforcement officer who has reached age 50 or has completed 25 years of credible service, whichever is earlier. The bill defines "qualified law enforcement officer" as an individual who is employed by the federal government as a law enforcement officer or as a firefighter and has completed 20 years of creditable service, or an individual who is employed as an air traffic controller and has completed 20 years of creditable service.

Read twice and referred to the Committee on Finance.

Sen. Toomey, Patrick [R-PA](R-PA)Sponsor
1 cosponsor1 D
1cosponsors1committees2actions1related bills10subjects
  1. IntroReferral

    Read twice and referred to the Committee on Finance.

    Finance Committee
  2. IntroReferral10000

    Introduced in Senate

Federal Public Safety Retirement Fairness Act of 2015 — Informed