Don’t you already paid state income taxes and federal taxes when you withdraw it?
Medicare just changed the pre op med payment. They paid for the pre op med for surgery before this week. Now you must pay up front for the IV med pre colonoscopy or back surgery etc. $150. up front. The oldsters are going to need the money to pay for everything Obama and his panel of medical decison makers take away. You cannot afford the med? You will probably not have a “relaxing time” of it.
Yeah, you do pay taxes, at a lower rate since your income is supposedly lower after retirement. I guess they want even more...
I took early retirement after 31 years at age 51 and am getting a pension from an IL corp. I pay CO state taxes on it..but not IL taxes. Plus the FEDS take a chunk out every month...the bastards.
YOU DAMN BETCHA! Unless you roll over. You have to take distributions at age 70.5 AND count that amount in your taxes.