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Earlier Retirement Without Penalties for Public Safety Officers

New rules allow public safety officers to withdraw retirement funds earlier without extra penalties. This change applies to individuals who are 50 years old or have 25 years of service, offering them greater flexibility in planning their retirement. It directly impacts the personal finances and life plans of public safety employees.
Key points
Public safety officers can withdraw retirement funds without penalty if they are 50 years old or have 25 years of service.
This change provides greater flexibility in managing retirement savings for this professional group.
The new rules apply to tax years beginning after the enactment date of the Act.
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Additional Information
Print number: 117_HR_8319
Sponsor: Rep. Thompson, Mike [D-CA-5]
Process start date: 2022-07-07
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Protecting Public Safety Employees' Timely Retirement Act of 2022

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8319.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-07-07.

What are the main provisions?

Key points include:

  • Public safety officers can withdraw retirement funds without penalty if they are 50 years old or have 25 years of service.
  • This change provides greater flexibility in managing retirement savings for this professional group.
  • The new rules apply to tax years beginning after the enactment date of the Act.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Thompson, Mike [D-CA-5].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

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