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Old 03-03-2007, 07:08 AM
 
Location: Woodlynne NJ
219 posts, read 630,502 times
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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?
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Old 03-03-2007, 08:15 AM
 
Location: Blue Ridge Mtns of NC
5,661 posts, read 19,424,055 times
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Retirement Benefits Deduction

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

Last edited by mm34b; 03-26-2009 at 06:56 PM..
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Old 03-26-2009, 05:43 PM
 
1 posts, read 7,558 times
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What if you did have 5 years of service in before August 12, 1989?
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Old 03-26-2009, 06:52 PM
 
Location: Blue Ridge Mtns of NC
5,661 posts, read 19,424,055 times
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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
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Old 06-04-2009, 06:18 PM
 
2 posts, read 14,372 times
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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.
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Old 06-05-2009, 07:25 AM
 
Location: Fayetteville, NC
1,487 posts, read 3,454,815 times
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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.
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Old 06-05-2009, 08:11 AM
 
Location: Apex, NC
2,311 posts, read 5,114,042 times
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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?
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Old 06-05-2009, 12:59 PM
 
2 posts, read 14,372 times
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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!
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Old 06-12-2009, 04:01 AM
 
1 posts, read 7,139 times
Reputation: 10
well, possibilities that you all have mentioned here about pension schemes, are beneficial for others.

Super Funds
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