What is the Healthcare Enhancement for Local Public Safety Act (HELPS)?

The Healthcare Enhancement for Local Public Safety Act, known as HELPS, is part of the existing federal tax law. It is found at Internal Revenue Code Section 402(l). HELPS allows eligible retired public safety officers to exclude from gross income up to $3,000 in annual distributions from a governmental retirement plan to pay qualified health care insurance or long-term care insurance premiums. HELPS was enacted as part of the Pension Protection Act of 2006. National Conference on Public Employee Retirement Systems 02/09/2023.

Click here for the full article from the National Conference on Public Employee Retirement Systems 02/09/2023.