U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > North Carolina
 [Register]
Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
 
 
Old 03-03-2007, 08:08 AM
 
Location: Woodlynne NJ
219 posts, read 599,854 times
Reputation: 123

Advertisements

Retiring REAL soon and moving REAL soon.
I am a (soon to be) retired police officer (Camden NJ) and have a state pension. What will NC do to me and my pension?
Quick reply to this message

 
Old 03-03-2007, 09:15 AM
 
Location: Blue Ridge Mtns of NC
5,660 posts, read 18,373,800 times
Reputation: 3550
Retirement Benefits Deduction

http://www.dornc.com/taxes/individual/retirement.html

Last edited by mm34b; 03-26-2009 at 07:56 PM..
Quick reply to this message
 
Old 03-26-2009, 06:43 PM
 
1 posts, read 7,248 times
Reputation: 14
What if you did have 5 years of service in before August 12, 1989?
Quick reply to this message
 
Old 03-26-2009, 07:52 PM
 
Location: Blue Ridge Mtns of NC
5,660 posts, read 18,373,800 times
Reputation: 3550
Quote:
Originally Posted by aic67 View Post
What if you did have 5 years of service in before August 12, 1989?
As a result of the North Carolina Supreme Court's decision in Bailey v. State of North Carolina, North Carolina may not tax certain retirement benefits received by retirees of the State of North Carolina and its local government or by the United States government retirees (including military) for each retirement plan if the retiree has five or more years of creditable service as of August 12, 1989.

Details - http://www.dornc.com/practitioner/in...06.pdf#page=29
Quick reply to this message
 
Old 06-04-2009, 07:18 PM
 
2 posts, read 13,752 times
Reputation: 12
Default Retirement Pension Taxed by State???? HELP

Hello, I have a question on interpreting the Bailey decision.

I have 11 years of Federal Service under the Civil Service Retirement System (CSRS) from 1968 to 1979. I then took a 14 year leave of absence and went back to work for the Federal Government under Federal Employees Retirement System (FERS) in 1993. I started contributing to the TSP in 1993. I plan on retiring next year and moving to North Carolina. My Federal Retirement annuity will have a component under CSRS and a component under FERS. Will any portion of my Federal Pension or TSP be taxed by the State? Thank you so much in advance for any advice you can provide.
Quick reply to this message
 
Old 06-05-2009, 08:25 AM
 
Location: Fayetteville, NC
1,484 posts, read 3,096,836 times
Reputation: 1494
From you description I think they will not tax it. I filed for the first item last year and they did not tax my military retirement. I had 5 years and 2 months service prior to Aug 1989. I think the TSP is treated different.
Quick reply to this message
 
Old 06-05-2009, 09:11 AM
 
Location: Apex, NC
2,183 posts, read 4,701,791 times
Reputation: 1385
Quote:
Originally Posted by njprintman View Post
Retiring REAL soon and moving REAL soon.
I am a (soon to be) retired police officer (Camden NJ) and have a state pension. What will NC do to me and my pension?
Retiring from Camden, NJ? Man that must have been a rough gig?
Quick reply to this message
 
Old 06-05-2009, 01:59 PM
 
2 posts, read 13,752 times
Reputation: 12
Quote:
Originally Posted by faabala View Post
From you description I think they will not tax it. I filed for the first item last year and they did not tax my military retirement. I had 5 years and 2 months service prior to Aug 1989. I think the TSP is treated different.
Thanks for the info! I appreciate it!
Quick reply to this message
 
Old 06-12-2009, 05:01 AM
 
1 posts, read 6,829 times
Reputation: 10
well, possibilities that you all have mentioned here about pension schemes, are beneficial for others.

Super Funds
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $89,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > North Carolina
Similar Threads

All times are GMT -6.

2005-2014, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25 - Top