A bill to amend the Internal Revenue Code of 1986 to provide an exemption from the tax on early distributions for certain Bureau of Prisons correctional officers who retire before age 55, and for other purposes.
Correctional Officer Fairness Act of 2015
Amends the Internal Revenue Code to exempt from the 10% additional tax on early distributions from tax-exempt retirement plans distributions from a thrift savings fund to a qualified federal correctional officer who has reached age 50 or has completed 25 years of credible service, whichever is earlier. Defines "qualified federal correctional officer" as an individual who is employed by the Federal Bureau of Prisons as a correctional officer and has completed 20 years of creditable service.
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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