Public Safety Worker's - retire early!
Contact us to find out if you are on target for early retirement.
You are considered a “Public Safety Worker,” if you are one of the below, which includes:
- State and Local Police,
- Firemen and EMS Workers
- Federal Public Safety Workers such as Federal Law Enforcement Officers (FDLE) and Federal Firefighters
- Air Traffic Controllers
- Border Protection Officers
- Certain Customs Officials
You have the ability to early retire without the IRS 10% early retirement penalty restrictions being applied to every dollar withdrawn from your government-sponsored retirement plan account over and above the normal federal income taxes due.
Normally if you retire prior to age 59 and 1/2 the IRS imposes an early withdrawal penalty of 10% on retirement account withdrawals. Current law provides an exception to that 10% penalty for individuals who terminate service with 25 years of service or after age 50, if you meet the above job classes and withdraw from their government-sponsored retirement plan.