Can I continue to participate in the FCPS Flexible Spending Account and/or the Tax-Deferred Annuity programs after retirement?
No. Both the flexible spending account (FSA) and tax-deferred annuity (TDA) programs allow deductions from earned income only. Under current law, your retirement benefits are not considered “earned income,” and therefore, participation in these programs is not permitted after you retire. Back to Top • How can I arrange to meet with an ERFC retirement counselor? You are encouraged to schedule an appointment with an ERFC counselor after you have first requested and received a comprehensive estimate of your retirement benefits. This is necessary so that you and your counselor are each prepared to discuss your concerns with information specific to your particular circumstances. If you are within five years of ERFC retirement eligibility, you may request up to three benefit estimates by completing and submitting a Benefit Estimate Request Form (ERFC-7). You may call to request a copy by mail at 703-426-3900 or 1-800-426-4208. After you have received your benefit estimates, you may contact E
No. Both the flexible spending account (FSA) and tax-deferred annuity (TDA) programs allow deductions from earned income only. Under current law, your retirement benefits are not considered “earned income,” and therefore, participation in these programs is not permitted after you retire. Back to Top • How can I arrange to meet with an ERFC retirement counselor? ERFC provides individual counseling services for members who are within 5 years of retirement eligibility. You are encouraged to schedule an appointment with an ERFC counselor after you have first requested and received a comprehensive audited estimate of your retirement benefits. This is necessary so that you and your counselor are each prepared to discuss your plans with information specific to your particular circumstances. If you are within five years of ERFC retirement eligibility, you may request estimates for up to three different retirement dates by completing and submitting a Benefit Estimate Request Form (ERFC-7A for L
Related Questions
- Im on the HDHP and participate in the Health Savings Account (HSA). Can I also participate in the Health Care Flexible Spending Account (FSA) through WageWorks?
- Can I continue to participate in the FCPS Flexible Spending Account and/or the Tax-Deferred Annuity programs after retirement?
- Why participate in a flexible spending account?
