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Recent Articles
- The Approved Minutes of the Wednesday, May 29, 2024, Regular Board Meeting have been uploaded.
- Agenda for the Wednesday, June 26, 2024 Regular Board Meeting
- The Approved Minutes of the Wednesday, April 24, 2024, Regular Board Meeting have been uploaded
- Office Closure
- Agenda for the Wednesday, May 29, 2024 Regular Board Meeting
Retirees
INFORMATION:
Working after Retirement
Retirees’ Annual COLA
PERAC guide for Retirees
No Social Security Deductions from Retirees Returning to Work After Retirement
Retirement Allowance Tax Information
Retirement Allowance Tax Map
FORMS:
See forms page
Other:
FRRS does not participate in the deduction of state income taxes from retirement benefits (and submit them to the state) because FRRS retirement benefits are not subject to state income tax. We suggest those that need to pay state income tax for other income sources make quarterly estimated tax payments direct to the state.
Each person’s tax situation is different, and for that reason we do not give out tax advice – we leave that to your chosen tax professional. In regards to Internal Revenue Service (“IRS”) code, we are defined as a State or political subdivision retirement plan under chapter 401(a), which can be further qualified under 414(h)(2) – ” . . . contributions not included in gross income reported for federal income tax purposes . . . “. e.g. pre-tax contributions. In some circumstances a portion of your contributions will not be “pre-tax”, when that is the case, the IRS form 1099r you receive from us will indicate the amount that is not “pre-tax”.