Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona
Social Security is the only retirement plan for many Americans. The federal program is also a main stay supplemental retirement plan for other Americans who participate in employer or individual plans.
When qualified plans distribute income it is taxed as ordinary income at the plan participant's effective tax bracket rate and is includable in the provisional income test for Social Security benefit taxation.
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When qualified plans distribute income it is taxed as ordinary income at the plan participant's effective tax bracket rate and is includable in the provisional income test for Social Security benefit taxation.