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I would say yes.
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, if the retiree had 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.
The exclusion does not apply to retirement benefits paid to former teachers and state employees of other states and their political subdivisions.
@tarheelrick if you are Bailey eligible, the 1099-R will specifically state your vesting date on the bottom of the form. As long as the date is listed, you are Bailey eligible.
if it is not so stated, you are either not eligible or b) you should call the State Pension fund to reconcile any potential reporting error.
@CatinaT1 - there is no guessing required for NC State retirees. It is listed right on the 1099-R issued by the State Pension fund. The "guessing" comes in to play when there is a federal employee and whether they are Bailey eligible.
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