Is there an open enrollment period for the IRS tax benefit granted under the Pension Protection Act of 2006?
This is an IRS tax year election, which means eligible PSOs can elect this benefit anytime. In most cases, it is also an IRS tax year benefit; those who elect it anytime during the year receive the tax benefit for the entire year. Conversely, if you cancel it anytime during the year, you lose the tax benefit for the entire year.