Baltimore County FOP Lodge #4 has been working with representatives from Nationwide for members to defer a percentage of the one-time bonus that county employees will receive in November 2014. As a result, a plan was developed to allow members to defer a portion of their bonus and avoid the heavy tax that is levied on bonuses. Now, any bonus amount deposited into your account will not be taxed until you withdraw it. Then, any withdraws will be taxed as ordinary income.
If you have not received a communication from Nationwide and wish to participate, please use the attachment or contact a Nationwide representative. All forms must be returned by September 26.