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Penalty Tax on Early Distributions from Investment Plan for Qualified Public Safety Employees

Under the Investment Plan, participants may choose to receive their account balance at termination of employment as a lump sum or to take periodic distributions. Generally, the amount an FRS participant withdraws from a qualified retirement plan before reaching age 59½ is called “early” distributions.  Generally, participants must pay a 10% early withdrawal penalty and […]

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Update on Closing the Florida Retirement Pension Plan

Update on Closing the Florida Retirement Pension Plan

You may have read the paper recently about the Florida legislature’s goal of closing the door on the FRS pension plan to new hires starting in 2014. House Bill 7011 would prohibit government employees, police and firefighters, and teachers across the state hired after January 4th, 2014, from enrolling in the state of Florida’s pension […]

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Florida Attempts to Close The Florida Pension Plan

Florida Attempts to Close The Florida Pension Plan

As most of you have probably hear, steps have been taken to close the Florida Pension Plan. The house speaker,  Will Weatherford has a top priority to close the State’s traditional pension plan. There has been tremendous opposition form union representatives. This may help the State of Florida, but will do nothing to shore up the respect […]

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About Us

About Us

Marc began his financial planning career in 1983 and formed Silverman Financial in 1989. Since the beginning of his career, Marc has been a leader and has thoroughly enjoyed his profession.

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