Thrift Savings Plan disbursement?

[2harts4ever]

Pennsylvania ... I just retired at 65 and accepted a full disbursement of my earnings from my employer sponsored Thrift Savings Plan.

I made no contributions to this plan. The money is solely what my employer contributed to this plan on my behalf.

Is this income taxable in the State of Pennsylvania?

Thanks and regards,

2harts4ever

 

[ecmst12]

Well, 401k money is taxable at the time when you withdraw it, so I would guess that this income would be also. But I'm sure others will have a more educated opinion.

 

[2harts4ever]

Hi ecmst12,

I appreciate your answer. It wasn't the way I was hoping my question would be answered ... but that is life...lol

I thought I had read somewhere that Pennsylvania didn't tax Thrift Savings disbursements as long as you were of full retirement age.

Guess I read it wrong or 'dreamed' it.

Thanks and regards,

2harts4ever

 

[ecmst12]

Stick around for more responses, I really don't know for sure one way or the other. Weekends are slow here, you can try Google too

 

[Beth3]

I'm not an expert on "Thrift" savings plans but I would be astonished if the money is not taxable at such time as it's withdrawn. I suggest you contact the Plan Administrator or a tax expert. You really don't want to run into trouble with the IRS 'cause you relied on tax advise from a public bulletin board.

 

[Kboons]

Mass. Divorce

Hi Massachusetts.I just got divorced ( not yet 30days ago) and the judge failed to understand the outstanding loan/interest I have on my TSP residential loan. He said my ex was not responsible for the due interested I have left on the loan. I want to appeal this.I dont want to hire my lawyer again. Please advise. what I can say to make everyone understand that my ex is also responsible for half this debt.

 

[Kboons]

Fers

Massachusetts. Me again. I plan on hiring a CPA to write up my FERS paperwork. Again my ex is getting half. I did not get ANY of ther 401k in the divorce. Can I appeal this? Or can I write it up that she does not get any if she remarries or I die, or I remarry? I do not plan on retiring for another 20 years. Why should she get it then? Would the arguement that the $ would not be vested until I retire, which is after the dissolution of the marriage?
I may be grasping for straws, but I dont feel I really had my day in court with the Court Mediator we were assigned.
thanks

 

[ecmst12]

You need to start your own thread for your questions and not hijack someone else's.