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FLEOA TSP Penalty Waiver Bill Introduced

 May 5, 2015
 
As a result of FLEOA's sustained advocacy on the Hill, two FLEOA initiated bills were introduced at the end of April. First, Defending Public Safety Employees Retirement Act , a/k/a the TSP Penalty Waiver bill, was introduced in both the House and Senate: H.R. 2146 and S. 969 respectively.  ‎Senators Toomey and Bennet first introduced S. 969 which would eliminate the IRS 10% penalty for federal public safety officers accessing their TSP at age 50. This would afford federal law enforcement officers the same opportunity to access their funds as their state and local counterparts are able to do. The House version, H.R. 2146, was introduced by Representatives Reichert, Pascrell, Fitzpatrick and Reed.

The second latest FLEOA drafted bill that was introduced in both the House and Senate is the Federal Law Enforcement Self Defense and Protection Act (S. 1162, H.R. 2137)‎. This critical Officer safety bill would prevent agency heads from disarming federal law enforcement officers in good standing during a government shutdown or lapse in funding. Law enforcement officers may be confronted with risk and t‎hreats 24/7, and this bill recognizes that criminals won't take pause when a law enforcement officer is furloughed. The Senate version was introduced by Senator Toomey who has shown FLEOA tremendous support, and the House version by Representatives Collins and Gabbard who are formidable law enforcement advocates. FLEOA will be educating members of Congress on the importance of these two bills during National Police Week. 

We encourage you to contact your elected officials from your personal phones/email and ask them to cosponsor these important bills today.