Section 1 Short title
This Act may be cited as the “State and Local Corrections Officer Retirement Fairness Act of 2022”.
State and Local Corrections Officer Retirement Fairness Act of 2022
A BILL
To amend the Internal Revenue Code of 1986 to extend the exemption from the retirement plan early withdrawal penalty for public safety officers to State and local government corrections employees.
Sec. 2 Exemption from early withdrawal penalty for certain State and local government corrections employees
In general— Clause (i) of section 72(t)(10)(B) of the Internal Revenue Code of 1986 is amended by striking “or emergency medical services” and inserting “emergency medical services, or services as a corrections officer or as a forensic security employee providing for the care, custody, and control of forensic patients”.
Effective date— The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act.