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Pension buyout
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<blockquote data-quote="Box Ox" data-source="post: 4269717" data-attributes="member: 48469"><p>They withhold 20% automatically for tax purposes. Whether or not you get any of that back depends on your tax bracket and withholding from your other income. Salary during the year, etc.</p><p></p><p>The tax penalty you can count on getting hit with for a cash out is 10% of the gross amount.</p></blockquote><p></p>
[QUOTE="Box Ox, post: 4269717, member: 48469"] They withhold 20% automatically for tax purposes. Whether or not you get any of that back depends on your tax bracket and withholding from your other income. Salary during the year, etc. The tax penalty you can count on getting hit with for a cash out is 10% of the gross amount. [/QUOTE]
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