QUESTION:

Is Social security withheld from pension benefits?

Is Social Security withheld from my wife's teacher's pension benefits?

If so, is it at the same 6.2% as is currently w/held from teacher's salary?
asked by harrydoc001, 9/7/2008
Categories: Transitioning to Retirement, Budgeting, Work and Retirement, Early Retirement, Retirement Income
ANSWERS:
Answered by: inmanbecky, 09/10/08
Overall Rating: Be the first to rate it.

No! A pension is something that you received inthe private sector. You will be taxed at the end of the year in accordance with your other monies/earnings. There are situations when you make early withdraws or liquidate a "qualified" account where they will withold penalties and taxes.

Please feel free to contact me with any questions.

B. Inman

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