In what has become an annual exercise, Congress passed a year-end tax and spending bill. As always, many little changes were made to the tax laws and put in a section called “Miscellaneous Provisions”.
One such provision extends the “age 50 rule” for certain federal employees.
This past summer, Congress passed HR 2146, a bill that allowed federal Law Enforcement Officers, Firefighters, Customs and Border Protection Officers, and Air Traffic Controllers, beginning January 1, 2016, to make penalty free withdrawals from the TSP if they retired in their 50th year of birth.
Additional “special category employees” have been added to the above occupations and will also be able to make penalty free withdrawals in their 50th year of birth.
Those positions are:
- Nuclear Materials Courier
- Member of the U. S. Capitol Police
- Member of the Supreme Court Police
- Diplomatic Security Special Agent of the State Department
John Grobe’s latest book, The Answer Book on Your Federal Employee Benefits, has just been released by LRP Publications. Order your copy at shoplrp.com. Ask your human resources office to contact Federal Career Experts about pre-retirement training.