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It Could Always Be Worse
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<blockquote data-quote="bacha29" data-source="post: 2482159" data-attributes="member: 58386"><p>Check the Summary Plan description. If the Summary Plan Description identifies the plan as a deferred compensation retirement plan you will pay taxes on what you withdraw from it during the course of a given tax year. Most plans state that the earliest you can begin WITHDRAWALS from the plan is age 59.5 with certain exemptions in case of disability. Portable or Traditional if the summary plan description says that is a tax deferred pension plan the benefits are taxable for the recipient.</p></blockquote><p></p>
[QUOTE="bacha29, post: 2482159, member: 58386"] Check the Summary Plan description. If the Summary Plan Description identifies the plan as a deferred compensation retirement plan you will pay taxes on what you withdraw from it during the course of a given tax year. Most plans state that the earliest you can begin WITHDRAWALS from the plan is age 59.5 with certain exemptions in case of disability. Portable or Traditional if the summary plan description says that is a tax deferred pension plan the benefits are taxable for the recipient. [/QUOTE]
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