“I want to provide an update to people who receive benefits from the Social Security Administration-
The Department of the Treasury (Treasury) announced on April 1 that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an economic impact payment. The IRS will use the information on the Form SSA-1099 to generate $1,200 economic impact payments to Social Security beneficiaries who did not file tax returns in 2018 or 2019."
For more information, please visit https://www.ssa.gov/news/press/releases/.
BECAUSE OF THE OUTBREAK OF THE CORONA VIRUS ALL FUTURE MEETINGS HAVE BEEN CANCELLED UNTIL FURTHER NOTICE.
The Secure Act increased the required minimum distribution (RMD) age from 70 1/2 to 72, marking the first change to the RMD age since first becoming law in 1986. The age increase will only apply to anyone born on or after July 1, 1949. Now that some taxpayers will be able to defer distributions from retirement accounts until age 72, should they? It turns out, tax-deferred growth isn’t always a no-brainer.
First, as a practical matter, many retirees can’t actually afford to hold off on using their retirement savings until they’re 72. Even for those who can wait until they reach RMD age, it might not make sense to. The ‘right’ withdrawal strategy will depend on multiple factors, which change over time along with the laws, tax code, and the individual’s personal financial situation.
Here are some of the important considerations to discuss with your financial and tax advisor as you draft a retirement income strategy.
Especially for investors who have already retired, tax planning can really pay off. If you’ve already retired and don’t need income from retirement accounts before age 72, you could be living off funds from a taxable brokerage account and perhaps Social Security, too. Depending on your finances, this could land you in some of the lowest tax brackets.
In 2020, married couples filing jointly are in the 12% marginal tax bracket until $80,250 of taxable income before progressing into the 22% rate on the next dollar of income. For couples with less than $80,000 in taxable income, they may pay no tax at all on long-term capital gains!
In this type of situation, it could be advantageous for taxpayers to consider accelerating the realization of income to ensure they’re able to take full advantage of a favorable tax bracket. With some planning, you could calculate how much to take from tax-deferred accounts to stay under the next marginal tax bracket increase (or whatever metric makes sense for your tax and financial situation).
The Fire Department Pension fund has relocated from headquarters to its new location in Manhattan.
The address is 1 Battery Park Plaza, 9th Floor NY , NY 10004-1405
Phone number : 929 436 0099
Please see the attachment for further details. (CLICK ON "FIND OUT MORE")
TO WATCH A VIDEO ABOUT THE REIMBURSEMENT,
Medicare Part B reimbursements were issued for the calendar year 2018 for Medicare-eligible retirees and
Medicare-eligible dependents in April 2019.
Any retirees who were Medicare eligible on or after calendar year 2016 are eligible for $134.00 per month
(12 months= $1,608 per each eligible person).
They receive this amount automatically.
Any retirees who were Medicare eligible prior to the calendar year 2016 must complete the Medicare Part B differential Form (see below link) and provide SSA-1099 for the calendar year 2018. Those retirees who submit this form may receive an additional amount up to $300 under the Medicare Part B differential.
This payment will be issued in Spring 2020
On July 29, 2019, the President signed into law The Never Forget the Heroes: James Zadroga, Ray Pfeifer, and Luis Alvarez Permanent Authorization of the September 11th Victim Compensation Fund. The VCF Permanent Authorization Act extends the VCF’s claim filing deadline from December 18, 2020, to October 1, 2090, and appropriates such funds as may be necessary to pay all approved claims. The VCF recognizes that claimants will have many questions about the impact of the legislation on their claims. The VCF is committed to processing claims without interruption and issuing full payments to those who received a reduced award. Additional details about the VCF Permanent Authorization Act can be found here.
Please check this website frequently for updates.
We are Retired NYC Firefighters of all ranks. We meet five times per year at two locations; 901 Lakeville Road in New Hyde Park and 3051 Nostrand Ave in Brooklyn, NY. Through our Newsletter and this website we hope to keep you informed about your pensions.
Are you passionate about what we're doing? Let us know! We are always looking for volunteers to help us make our organization better for our members. We'll help you find a way to volunteer that best suits you. We're excited to have you join the team!
Whether you help through monetary donations, volunteering your time, or spreading our mission through word-of-mouth, thank you. We couldn't accomplish our goals without the help
of supporters like you.
RETIRED MEMBER'S ASSOCIATION, INC
Fire Department City of New York
ORGANIZED JANUARY 1ST, 1946
APPLICATION FOR MEMBERSHIP
We offer three types of Membership.
Life Membership- one time payment of $150.00 gives you a gold RMA Membership Card and our periodic newsletters. This is for new members.
Life Membership-for existing members with a minimum total of
10 consecutive paid dues years. One time payment of $75.00 gives you a Gold RMA Membership Card and our periodic newsletters.
Annual Membership-Annual dues of $15.00 gives you 1 year of membership with associated Card, and one year of issued Newsletters.
Once you have decided on
the type of Membership you desire, download the PDF Application above, fill out and send with your check
made payable to the RMA
and send via US Mail to:
PO Box 1332 Baldwin, NY 11510
Attn: Jim Hayhurst