Retiree - Pension Protection ActFind more information from the following link(s):
The Pension Protection Act of 2006 (PPA) allows certain public safety retirees and their survivors to deduct up to $3,000 in medical, prescription, dental and vision insurance premiums on their income tax return from the pension income received. This is an addition to the general tax rule that allows for deductions if you meet medical expense thresholds. (If you are unsure if the PPA rules apply to you, please consult your tax advisor.)
Because your December pension paycheck stub will contain the total amount of premiums you have paid for the year, the Office of Human Resources (OHR) Health Insurance Team will no longer mail PPA letters (typically sent in the Spring of the next tax year). Please review your December pension paycheck stub to obtain total premium amounts for your tax purposes. Retirees who have registered online with AccessMCG can view their paycheck stub online. For additional information on the "Pension Protection Act" click on link.
Pension Protection Act (PPA) Notice