Does My 401K Affect Social Security?

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    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    During the accumulation phase social security tax is not applied to the amount of money that you contribute to your 401(k)  When you start drawing social security you will find that 15% of your social security benefit will come to you free of income tax.  The remaining 85% can be taxed based upon a complex formula but that formula includes the money that you receive from your 401(k).
    Answered on August 29, 2014
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