Retired public safety officers may be able to reduce their taxable income by excluding up to $3,000 from their taxes each year for health, dental, vision, and long-term care insurance premium payments.
This is a federal income tax deduction program. ETF cannot give tax or legal advice. Speak with your attorney or tax advisor or contact the IRS with questions.
Eligibility
You are eligible for this program if you receive annuity payments from the Wisconsin Retirement System and are an eligible public safety officer.
Federal law defines who is an eligible public safety officer. Some of the criteria are:
- The officer separated from service as a public safety officer with the employer who maintains the retirement plan for the officer after reaching normal retirement age.
- Or, the officer separated from service by reason of disability. Officers must have either a disability retirement benefit or a duty disability benefit with a retirement benefit.
Learn more about eligibility from Title 26 USC 402(l), 26 USC 72(t)(10), and 26 USC 7702B(b).
Apply for the Tax Deduction
It’s now easier for you to take advantage of this program. As of January 1, 2023, you can self-certify your eligibility for the program on your taxes. You no longer need to apply for this program through ETF and have your insurers approve your eligibility.
For more information and instructions on how to fill out your tax forms, see IRS Instructions for Form 1040.