Are pensions tax free?

Answer No. When you draw on a pension plan, the amount paid to you may be either fully or partially taxable. According to the Internal Revenue Service, if you did not pay taxes on the income at the time t... Read More »

Top Q&A For: Are pensions tax free

Does Congress have pensions with AIG?

The American International Group, Inc. (AIG) does not provide pensions for members of Congress. According to the Office of Personnel Management’s Center for Retirement and Insurance Services, no ... Read More »

Is Social Security tax taken from pensions?

The government does not take Social Security tax out of pensions. This is because the Social Security tax is only on earned income. According to the Internal Revenue Service, pensions are unearned ... Read More »

California Divorce Law & Pensions?

When a spouse earns a pension through his employment, he may be concerned about what the other spouse is entitled to if they get divorced. In California, a pension is considered marital property an... Read More »

States That Do Not Tax Retirement Pensions?

In the United States, retirement pension packages from private or public sector jobs are taxed at the state level. Certain states, a total of ten as of 2009, do not tax retirement pensions, and thu... Read More »