Yes, Thrift Savings Plans are taxable in Massachusetts.
No, it does not qualify as a tax-exempt pension.
- Contributions made by an employer to a thrift savings plan are excluded from your gross income in the year contributed. See the "Current year exclusion amounts" table below for elective deferrals, including "catch-up" provisions.
- Income earned on the contributions while in the thrift savings plan account is excluded from gross income.
- Distributions made to the retiree from the plan are fully taxable in the year paid.
Massachusetts: View government pensions
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