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DISCLAIMER - THIS WEBSITE IS NOT ENDORSED BY OR AFFILIATED WITH THE U.S. SOCIAL SECURITY ADMINISTRATION , OR ANY GOVERNMENTAL ENTITY.
 Carol Thomas has recently retired from the Social Security Administration after 28 years service. If you have any questions about Social Security, please ask. We will use the questions you send for future posts. I will never post anyone's name, or other identifiable information.
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| 401a retirement plan |
Date Add : 05-28-2009
| Views : 261
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I recently retired from a public education system. I have my "Drop" funds invested in a 401a plan (Bencor). All the funds were "earned" prior to 2009. If I receive funds from the 401a plan, will this be considered "Earned Income" by Social Security in the year in which I receive the funds? I understand I will have to pay Federal taxes. My earned income limit is $14 thousand plus. If I receive more than the limit, will it affect my entitlement from Social Security?
Support Replied ~ 05-02-2009 22:24:20
Dear J.E.:
Earned income is just that. No retirement plans. Just what is reported on a W2 or a self employement tax return.. As long as your earnings are under $14000, you will be a ok.......Carol
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DISCLAIMER -
You should consult with your local Social Security Office before acting upon any information received as a response to your question on "Social Security Advisor".
"Social Security Advisor" is intended to provide accurate and authoritative information with regard to the subject matter covered. It is offered with the understanding that neither the publisher nor the author is engaged in rendering legal, accounting, investment or other professional advice or services.
Information obtained from RetirementCommunity.com, including e-mail responses from "Social Security Advisor" should be considered as general educational information. You must never rely upon the advice given here. Your individual situation may not fit the generalizations discussed. Only your local Social Security office can evaluate your individual situation and give you advice.
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