| IRS Retirement Age Article |
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Updated On: Sep 270, 2008
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Several members have contacted our offices about an article posted in a Nevada newspaper about early retirement. The article (click here) was only partially correct. This regulation only applies to IN SERVICE pension payments to people who retire less than the SAFETY retirement age of 50. The National Conference of Public Employee Retirement Systems (NCPERS) (Click Here) and the International Association of Firefighters (Click Here) have both done a good job answering this issue.
While this rule is not applicable to our members who are LACERA members, Local 1014 is very concerned about the current IRS changes that will be increasing scrutiny of public pension systems. While our systems are fully compliant and transparent to IRS codes, this is a drain of pension dollars and manpower for scrutiny of a system that is consistently scrutinized by its plan sponsors (LA County) and independent auditors.
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