DaveF1006
Expert Alumni

Retirement tax questions

According to  NCDOR, "The exclusion applies to retirement benefits received from certain defined benefit plans, such as the North Carolina Teachers' and State Employees' Retirement System, the North Carolina Local Governmental Employees' Retirement System, the North Carolina Consolidated Judicial Retirement System, the Federal Employees' Retirement System, or the United States Civil Service Retirement System.

 

To qualify, the retiree would need to have more than five or more years of creditable service as of August 12, 1989.  The exclusion also applies to retirement benefits received from the state's §401(k) and §457 plans if the retiree had contributed or contracted to contribute to the plan prior to August 12, 1989."

 

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