Does FRS (Florida Retirement System) Pension plan 401(a) qualify for retirement plan credit?

mrakyalcin · ‎January 29, 2021

MinhT1 · ‎January 29, 2021

A 401(a) plan is a qualified retirement plan.

And contributions of this plan are eligible for the Retirement savings Contribution credit (Savers' credit).

Please read this IRS document for more information.

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SteamTrain · ‎January 29, 2021

However, any contributions showing up in box 14 of your W-2 are NOT eligible for the RSCC, as these are "required" (not optional) contributions under code 414(h):

https://www.myfrs.com/Faq_Employees.htm#:~:text=These%20contributions%20should%20be%20labeled,wages%...).

https://www.myfrs.com/Plan_Funding.htm

*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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Does FRS (Florida Retirement System) Pension plan 401(a) qualify for retirement plan credit?

Does FRS (Florida Retirement System) Pension plan 401(a) qualify for retirement plan credit?

Does FRS (Florida Retirement System) Pension plan 401(a) qualify for retirement plan credit?