AFT-WV Update: IRS Retirement Ruling
Many teachers across the state have voiced concerns about an IRS ruling regarding the retirement age for public employees. In 2007, the IRS defined the normal age at which a participant in the private sector can retire as 62. Governmental agencies were granted an extension until the rules could be revised to address the differences in the various government retirement plans. The IRS has delayed implementing any changes since then, leaving educators approaching retirement with a serious question; will my benefits decrease if I don’t retire now?
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