Every civilian worker in this state and city is afforded the opportunity to take 75 percent of their accumulated- deductions account balance as a Final Withdrawal. The tax-free portion of the FW is eligible to be rolled into a Roth IRA, with the gains portion of the FW eligible to be rolled into a Traditional (pre-tax) IRA.
The cops and firefighters of the city are not limited that much—they can roll over 90 percent. This inequity needs to be corrected. The employer does not contribute to the employee's accumulated deductions account, so the increase in the FW is cost neutral to the city.
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