A portion of it may be exempt from Georgia Income tax this year, and will definitely be exempt when you are 62 yrs. old.
From the GA DOR website, Does Georgia offer any income tax relief for retirees?
Yes. A retirement exclusion is allowed provided the taxpayer is 62 years of age or older, or the taxpayer is totally and permanently disabled. Retirement income includes items such as: interest, dividends, net rentals, capital gains, royalties, pensions, annuities, and the first $4000.00 of earned income. Earned income is income from a trade or business, wages, salaries, tips, or other compensation.
There are no special provisions for retired law-enforcement officers.
: