- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
What do you mean by "pension"? Exactly what kind of plan is it?
Is it a defined benefits plan (you get a guaranteed benefit based on age and service time) or is it a defined contribution plan (you and the employer contribute money to a retirement fund and you and withdraw whatever you want based on how your investments perform). Do you know if it is specifically a 401k, 403b, 457a, 401a, or some other number?
What codes are in box 7 of your 1099-R? What codes were present in your 2021 1099-R?
All this is important because "early" has different meanings and different consequences for different kinds of plans. The other expert answer seems to assume this is a 401(k) plan, but I think that would be unusual for a county government employee.