Public Safety Employees can take distributions from their government sponsored retirement plans at age 50 WITHOUT the 10% penalty!
Did you know that? I did not and I can’t believe I missed this! Many thanks to a subscriber who pointed this out to me today.
This law was signed by Obama in 2015, yet here it is 2018 and I was only made aware of it. Crazy.
Two morals of the story here:
1. If you are a government Public Safety Employee you’d be CRAZY to rollover your retirement $ to an IRA. (Even double if you’re ANY government employee living in MD or RI).
2. No one knows everything. You need to be open to other ideas and suggestions as someone WILL know something you do not.
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The Tax Bomb In Your Retirement Accounts: How The Roth IRA Can Help You Avoid It
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