March 2005
Dear Member:
The Police Officers Association of Michigan (POAM) is proud to announce a new partnership with Retirement Plan Advisors and Security Benefit Group to bring you the Security Benefit Group Healthcare Reimbursement AccountSM (HRA). The Security Benefit HRA program is an investment program designed to provide dollars for medical expenses in retirement. The best part of the program is that all the dollars are tax-free!
The HRA program allows public sector employers such as cities, counties and municipalities to make tax-free contributions on behalf of employees to offset out-of-pocket insurance and health care costs after separation from service. All dollars invested accumulate tax-free and distributions are also tax-free when used for qualified medical expenses for employees and their dependents.
The program can be funded through several different sources including: ongoing contributions, accumulated sick and/or vacation time (annually or at retirement), conversion of floating holidays as well as incentive bonuses and early retirement bonuses.
To ensure local support and continued service, the POAM and Security Benefit are providing service through Retirement Plan Advisors (RPA), a local investment advisory firm with representatives across the state. Your local RPA representative will call you shortly to explain this important benefit as well as other available services. Log into www.POAM.net for information.
In the meantime feel free to contact Retirement Plan Advisors at (734) 421-2212 or POAMHRA@retirementplanadvisors.com if you have any questions or wish to schedule an appointment.
We are excited about our new partnership with Retirement Plan Advisors and Security Benefit and believe the expanded benefit offerings will help provide all our members with a stronger financial future.
Sincerely,
James Tignanelli
James Tignanelli
President