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The IRS has published new instructions on how retired fire fighters can take advantage of the Healthcare Enhancement for Local Public Safety (HELPS) benefit on their 2007 tax returns.

Last year, the IAFF won an unprecedented congressional victory in the passage of the HELPS retiree health care benefit, a tax-free distribution of up to $3,000 from retirement plans to help retirees pay for health insurance or long-term care insurance premiums.

The IRS instructions for filing 2007 tax returns explains how to take advantage of this valuable benefit. The IRS will allow retired fire fighters to exclude from income distributions made from eligible retirement plans up to $3,000 annually to pay the premiums for accident or health insurance or long-term care insurance. The premiums can be for coverage for the retiree, spouse or dependents. The distribution must be made directly from the retirement plan to the insurance provider. Eligible retirement plans include qualified trusts, section 403(a) plans, section 403(b) annuities and section 457(b) plans.

The IRS requires retirees to report total distributions on Form 1040, line 16a; Form 1040A, line 12a; or Form 1040NR, line 17a. The taxable amount should be reported on Form 1040, line 16b; Form 1040A, line 12b; or Form 1040NR, line 17b. Also, retirees should write “PSO” next to the appropriate line where the taxable amount is reported.

As you may know, the Pension Protection Act of 2006 enacted a provision (Section 845) that permits “eligible retired public safety officers” to have an eligible governmental pension plan pay qualified health insurance premiums of up to $3,000 per calendar year on a pre-tax basis.
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In an effort to provide our retired brothers (at the time of their demise) with a dignified, and respectable presence, the Retired Association has decided to organize a "Honor Guard".

This will not be a precision - spit and polish - drill team type concept, but simply a list of retired brother firefighters who may have known and worked with the departed, or at least served during the same time frame.

Participation by this Honor Guard will be ONLY By request of the family, and only to the extent that the family desires.

To include but not limited to pallbearers, (active or honorary) - liaison between the family and visiting fire fighters, or simply lending a fire service presence.

The "uniform of the day" for this honor guard shall from this day forward be known as the "Lockrow Suit" which will consist of a navy blue blazer, white shirt, grey slacks, and black shoes (properly polished) and official Honor Guard tie issued by the Association.

For those who wish to participate, and do not own a "Lockrow Suit" we have made arrangements with "Men's Warehouse" for a very good discount on the blazer and slacks.

The more members who participate in this honor guard will provide for a large cadre to draw from meaning less travel and less frequent events.

Please give this Honor Guard serious consideration, and join us in providing our departed members with class, dignity, and proper respect.