Ordinance No. 1967 -
amends the Money Purchase Plan for Peace Officers to add an optional
provision from the Pension Protection Act. The optional provision allows
disabled or retired peace officers the ability to have up to $3,000
distributed tax-free annually from the money purchase plan in order to
pay for insurance premiums for an accident or health plan or a qualified
long-term care insurance contract. Wells Fargo will administer the
distribution process in compliance with the Pension Protection Act.
Kristi Sullivan, Certified Financial Planner with Strategies CM is available to employees enrolled in this plan for investment advice. Kristi is typically on-site once a month for thirty-minute appointments or can be contacted on a individual basis, please see her information below:
View the Partnership announcement with Strategies by clicking here.
Click here for monthly participation tip prepared by Kristi Sullivan.
The plan is currently administered by Empower Retirement. The Peace Officer Money Purchase Plan number is 95265-02. Click here for instructions on how to access your Empower account online to:
- View your account balance
- Update or change your beneficiary information
- Change your investment elections
- Change your deferral percentage
Update Beneficiary Information Today! Click here to find out how.