Retirement News & Events
6th Annual Town Show
Attention Artists: All City of Tallahassee employees and retirees (including temporary employees) are eligible to enter artwork in the annual City of Tallahassee Town Show. Art forms that may be entered include paintings, photography, sculpture, drawings, jewelry, fiber art, stained glass, beading, crafts, and new this year, original music and video arts. The deadline for submitting entries is Friday, April 23, 2010. For details and an entry form, download Announcement: 6th Annual Town Show (PDF). February, 2010
Annual Pension Meeting of the Plan Participants
The Pension Advisory Committees and the City's Retirement will be holding the annual meeting of the pension plan participants as follows:
- Monday, March 22, for Firefighters
- Tuesday, March 23, for General Employees
- Friday, March 26, for Police Officers
One of the purposes of the annual meeting is to elect a plan participant to serve on the advisory committee whenever there is a vacancy or an incumbent's term expires. Below are links to the notices sent to each plan participant and which seats are open for nominations
February, 2010
Pension Protection Act of 2006 (Health Insurance Credit for retired Police Officers/Firefighters)
The Pension Protection Act of 2006 was signed into law on August 17, 2006. One of the provisions of this act is to allow "eligible retired public safety officers" to elect to exclude from gross income certain deductions made from your Pension Plan to pay for "qualified health insurance premiums." The exclusion is limited to amount of annual premiums paid, up to $3,000, and is effective beginning January 1, 2007. Regarding the deduction of 2008 insurance premiums for eligible police/fire retirees (eligibility has not changed from last year), refer to the 1040 instruction publication, page 25, at the top right-hand corner, titled "Insurance Premiums for Retired Public Safety Officers." (download PDF for more information) January, 2010
City Commission Extends Benefits to Domestic Partners
On Wednesday, October 28, 2009, the City Commission approved extended benefit coverage for both same sex and opposite sex Domestic Partners and the child(ren) of a Domestic Partner, provided certain criteria is met. The City will offer this Domestic Partner Coverage through its benefits plans, beginning January 1, 2010. (Download PDF for more information). October, 2009
Recent changes for General Employees' Pension Contributions
Effective 10/24/09 pension contributions for the General Employees Pension Plan will increase from 3.50% to 3.75%. (Download PDF for more information). October, 2009
19th Annual City of Tallahassee Retiree Appreciation Dinner
On April 30th the Retirement Office hosted its annual City of Tallahassee Retiree dinner. A new attendance record was set with over 350 retirees and guests attending. See photos provided by Lou Kellenberger.
April, 2009
Changes on investment options currently available with your Prudential Accounts
The following notice details changes that will be made to two investment options currently available in the Retirement Plans, which may affect your retirement account with Prudential Retirement. (Download PDF for more information).
April, 2009
Recent Changes to Federal Tax Rules
General Comments/Feedback The federal "Stimulus Package" (formerly known as the American Recovery and Reinvestment Act of 2009) was signed into law on Feb. 17, 2009. Because of the new law, the IRS has changed the federal tax withholding tables. The IRS has not issued separate tax withholding tables for retirees. They are the same as the tables used for employment. If your pension benefit is reduced enough by the new withholding tables, you may find that you may owe taxes at the end of the year. Download the required form for retirees (W4P Form for Retirees - PDF) to change your withholding tax. February, 2009
Waiver of Required Minimum Distributions for Retirement Plan Participants for 2009
On December 23, 2008, President Bush signed into law the Worker, Retiree, and Employer Recovery Act of 2008, which includes a one-year waiver on required minimum distribution (RMD) rules for 2009. As a result of this, a RMD payment will not be made to you in 2009 unless you contact Prudential. (Download PDF)
January, 2009