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Social Butterfly

Military RETIREMENT Pay Taxed Sometimes

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Honored Social Butterfly


@Bye wrote:
  • Bad enough they tax my social security, but the military!!

Social Security benefits are ONLY taxed under some conditions - based on income.

AARP.org - updated 04/15/2021 - How Are Social Security Benefits Taxed 

 

It's Always Something . . . . Roseanna Roseannadanna
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Honored Social Butterfly

@Bye 

Answering both of your initial post on this subject.

Don't confuse Military Pension with Veteran Pension - they aren't the same at all.

They are based on completely different eligibility standards.

VA.gov - Eligibility for Veterans Pension 

from the link ~ more at the link 

The Veterans Pension program provides monthly payments to wartime Veterans who meet certain age or disability requirements, and who have income and net worth within certain limits

 

Veteran Pensions are NOT taxed at all - not at the federal, state or local level - because they are based on war service (as differing from just military service), service connected injury, or age and income.   Veteran Survivors Pensions are also not taxed.

 

Military Pensions are much like any other civil service pension based on the length of stay in the job and whether or not you opted in sometimes.

USA.gov - Military Pay and Pensions 

Military pensions are taxed.  Of course, many states also give a "retirement exclusion"  to all or part of income received as part of retirement so at the state level it depends on how much (of all income) you are receiving in retirement.

Military Pensions should be taxed just as other pensions are taxed.

Military Pensions are based on years on the job like other work pensions.

 

 

 

It's Always Something . . . . Roseanna Roseannadanna
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