Taxes on Your Retirement Benefits - PSERs
Taxes on Your Retirement Benefits - PSERs
Taxes on Your Retirement Benefits - PSERs
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The remaining Investment in C<strong>on</strong>tract<br />
m<strong>on</strong>ey is divided by the number<br />
of anticipated m<strong>on</strong>thly payments the<br />
IRS projects you will receive over the<br />
lifetime of the annuity, based <strong>on</strong> your<br />
age at the time of retirement. After<br />
you have recovered the total amount<br />
of your Investment in C<strong>on</strong>tract, any<br />
subsequent m<strong>on</strong>thly annuity payments<br />
are fully taxable.<br />
If you retired and selected Opti<strong>on</strong>s 2, 3,<br />
or the Special Opti<strong>on</strong> 4:<br />
The remaining Investment in<br />
C<strong>on</strong>tract m<strong>on</strong>ey is divided by the<br />
number of anticipated m<strong>on</strong>thly<br />
payments the IRS projects you will<br />
receive over the lifetime of the<br />
annuity, based <strong>on</strong> your age at the<br />
time of retirement combined with the<br />
age of your survivor annuitant. After<br />
you have recovered the total amount<br />
of your Investment in C<strong>on</strong>tract, any<br />
subsequent m<strong>on</strong>thly annuity<br />
payments are fully taxable.<br />
Rollover Informati<strong>on</strong> for<br />
Refunds and <strong>Retirement</strong>s<br />
<strong>Your</strong> lump-sum (refund) or partial lumpsum<br />
(retirement) is eligible to be rolled<br />
over into an “Eligible <strong>Retirement</strong> Plan.”<br />
Eligible Plans<br />
PSERS allows you to roll over your<br />
funds into the following “Eligible <strong>Retirement</strong><br />
Plans”:<br />
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